Fort Financial Services - Analytics

    Fort Financial Services

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    AUD/USD (a 4-hour chart)

     AUD/USD (a 4-hour chart)

    General overview

    The Australian Central Bank left the interest rates unchanged amid a political instability in the country and abroad.

    Current situation

    The price was not able to move far from 0.7500. After reaching 0.7550 the AUD fell and set a new local low at the mark 0.7450. The resistance is at 0.7500, the support comes in at 0.7400.

    MACD and RSI decreased, which is a sell signal. Any further decrease will indicate sellers growing strength. The instrument approached the 50-day moving average on the 4 hour chart. This line may become a support for the price and it bounces upwards. The Moving Averages (50, 100 and 200) are moving horizontal.

    Trading recommendations

    The price may bounce from the level 0.7440 (the 50-EMA). In the scenario where the buyers return to the market the price will grow to 0.7550. Alternatively, if the AUD/USD does make a breakout at the level 0.7450 the price will decrease to 0.7400.

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