Logo

Today's focus is on the Australian Dollar against the US Dollar - June 18, 2024

Wilson
Wilson
06-18

Today, the Reserve Bank of Australia announces its decision. With high inflation trends and no rate cuts expected before June next year, lack of clear direction may mean a temporary reaction for the Australian dollar.

🇦🇺 Australian Inflation: April CPI increased by 3.6% year-on-year, indicating persistent inflation. The Reserve Bank of Australia may consider raising interest rates again.

🔍 Technical Analysis Highlights:

• MACD (Daily): Near the zero axis; watch for bullish signals or rapid decline.

• Support Price (Daily): Strong support at the 200-day moving average and 38.2% Fibonacci level. If this strong support is also broken, the downside space opens, targeting at least the 61.8% range.

• Stochastic Oscillator (1 hour): Overbought. Awaiting bullish signal exit.

• Moving Average Resistance (1 hour): Key resistance at the 200-period moving average. Failure to break could indicate continued decline.

• Elliott Wave (1 hour): Key trend direction. Focus on the 1.382 Fibonacci extension.

📍 Pivot Points:

• Pivot price: 0.6590

• Bullish Scenario: Above 0.6590, targeting 0.6630 and 0.6645

• Bearish Scenario: Below 0.6590, targeting 0.6575 and 0.6560

#UltimaMarkets #TechnicalAnalysis #MarketAnalysis #AUDUSD #RBA #InterestRate #CPI #Indicators #ReserveBankofAustralia

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

Wiki

Foreign Exchange Trading

Foreign exchange trading is a financial trading activity that seeks profit through the exchange rate differences between different countries' currencies. It is characterized by globalization, high liquidity, and leveraged trading. Participants include central banks, commercial banks, investment institutions, enterprises, and individual investors. However, it also involves potential risks such as market fluctuations and leverage risks.

Organization

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Logo

Contact Us

Social Media

footer1