Tuesday , July 27 2021

Australian Dollar: USD / AUD (AUD = X) enjoys an optimistic job report and focuses on other people's problems



Australian Dollar: USD / AUD (AUD = X) enjoys an optimistic job report and focuses on other people's problems

The Australian dollar is stabilizing at a higher place, enjoying an optimistic job report and focusing on other people's problems. The Reserve Bank of Australia stands in the coming week. Here are the highlights of this week and the latest technical analysis for AUD / USD.

Australia enjoyed an increase of no less than 32.8 thousand jobs in October and unemployment reached 5%. An encouraging figure supports the Aussie. In the US, data is rather disappointing with a small miss in retail sales and inflation. On the other hand, talks between the US and China made some progress and this is positive for A $. The Australian dollar also benefited from a focus on Brexit, which hurt the pound, impacted the euro and also the safe haven move of the yen, but left the Aussie unscathed. This weekend, several Fed officials such as Clarida, Kaplan and Harker expressed concern about the global economy and seemed in no hurry to raise interest rates. US dollar suffers.

Overall, the price bias is: upwards.

The projected upper limit is: 0.74.

The projected lower limit is: 0.72.

The projected closing price is: 0.73.

Candlesticks

The black body occurs (because the price closes lower than the one opened).
During the last 10 bars, there are 6 white candles and 4 black candles for 2 white candles. During the last 50 bars, there are 27 white candles and 23 black candles for nets of 4 white candles.

Momentum indicator

Momentum is a general term used to describe the speed at which prices move over a certain period of time. Generally, changes in momentum tend to lead to price changes. This expert shows the current value of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is to look for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 89.3661. This is overbought reading. However, the signal is not generated until the Oscillator crosses below 80. The last signal is the selling period 6 ago.

Relative Strength Index (RSI)

The RSI shows an overbought area (above 70) and oversold (below 30). The current RSI value is 62.28. This is not the topping area or bottoming. Buy or sell signals are generated when the RSI moves out of the overbought / oversold area. The last signal is the buy period of 138 (s) ago.

Commodity Channel Index (CCI)

CCI shows overbought area (above 100) and oversold (below -100). The current value of the CCI is 133. This is overbought reading. However, a signal is not generated until the indicator crosses below 100. The last signal is the selling period 6 ago.

MACD

The Moving Average Convergence / Divergence (MACD) indicator gives a signal when it passes 9 period signal lines. The last signal is the purchase of 25 past periods.

Rex Takasugi – TD profile

AUD FOREX = closed down -0.002 at 0.731. Volume is 97% below the average (consolidation) and Bollinger Bands 53% wider than usual.

Open Low High Close Volume___
0.732 0.733 0.730 0.731 2.838

Technical Outlook
Short Term: Overbought
Medium Term: Bullish
Long Term: Bearish

Moving Averages: 50-period 50-period period 200
Cover: 0.73 0.72 0.74
Volatility: 10 10 10
Volume: 117,763 112,796 105,135

Short-term traders must pay closer attention to buying / selling arrows while medium / long-term traders must place greater emphasis on the Bullish or Bearish trend reflected in the lower band.

Summary

AUD FOREX = currently 1.9% below the 200-period moving average and is in an uptrend. High volatility compared to the average volatility in the last 10 periods. Our volume indicators reflect the volume flowing in and out of AUD = at a relatively similar (neutral) speed. Our trend forecast trend is currently bullish on AUD = and has had this view for the last 9 periods.

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