The AUDUSD:D1 forecast in our January 22, 2020 technical analysis is bearish. | IFCM New Zealand

The AUDUSD:D1 forecast in our January 22, 2020 technical analysis is bearish.

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  • The Westpac Consumer Sentiment Index for Australia declined 1.8% month-over-month to 93.4 in January.
  • AUDUSD: D1 has breached below the neck line of the "head-shoulders" chart pattern of technical analysis.
  • Here is what indicators show as of January 22, 2020:

    • The Parabolic Indicator gives a bearish signal.
    • TheBollinger Bands igives a bearish signal.
    • The MACD indicator ggives a bearish signal.
    • The RSI oscillator is falling but has not reached the oversold zone.
    • The Fractals give a neutral signal.
    • The MA(200) indicator gives a bearish signal.

    So the bearish forecast still stands for the AUDUSD: D1.

    OrderSELL
    Sell stop Below 0.6835
    Stop lossAbove 0.6942

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