empty
 
 
26.09.2018 08:08 AM
Fundamental Analysis of AUD/USD for September 26, 2018

AUD/USD has been quite indecisive recently after pushing above 0.7200 area with a daily close amid impulsive bullish pressure earlier. Australia does not present macroeconomic economic reports or events this week, while USD is alert to high impact economic reports on the line. Thus, certain volatility is expected in this pair which might lead to a definite momentum in the pair.

AUD has been quite mixed amid the recent economic reports, while the empty economic calendar from Australia weakened the overall pressure of AUD it had over USD in the process. The only economic report to be published in Australia this week on Friday is Private Sector Credit report which is expected to be unchanged at 0.4%.

On the USD side, today US Federal Reserve is widely expected to increase its official funds rate to 2.25% from the previous value of 2.00%. The anticipated rate hike is likely trigger higher volatility in the market. The rate hike is quite imminent and expected to weaken USD for certain period while strengthening for the long term. Moreover, FOMC Economic Projections, FOMC Statement, and FOMC Press Conference is also expected to play a vital role in developing the market sentiment. Additionally, today US New Home Sales report is going to be published which is expected to increase to 630k from the previous figure of 627k and Crude Oil Inventories is expected to increase to -0.7M from the previous figure of -2.1M.

Meanwhile, AUD is expected to be the weaker currency in the pair. USD may hold the upper hand if the economic events and reports favor the upcoming gains in the process. Though certain spikes may be observed in the process, a definite trend can be settled for the coming days.

Now let us look at the technical view. The price is currently residing above the dynamic levels of 20 EMA, Tenkan and Kijun line while residing inside the middle of the range between 0.7200 to 0.7320 area. The price is still residing below 0.7320 area where the Kumo Cloud resistance also rests which is indicating further bearish momentum in the pair if the price remains below 0.7320 area with a daily close or else a daily close above 0.7320 will lead to further bullish pressure for the coming days. As the price remains below 0.7320 area, the bearish bias is expected to continue.

SUPPORT: 0.7200, 0.7150

RESISTANCE: 0.7320, 0.7450

BIAS: BEARISH

MOMENTUM: VOLATILE

This image is no longer relevant

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback