AUD USD Technical Analysis | AUD USD Trading: 2015-02-26 | IFCM
IFC Markets Online CFD Broker

AUD USD Technical Analysis - AUD USD Trading: 2015-02-26

RBA meeting to take place next week

We would like to focus your attention to the AUD/USD currency pair. The Aussie is currently traded 29% below the historical high of 2011 and showed signs of the bullish influence over the last three weeks. Since September 2014 it has dipped 18% with the maintained base rate of 2.5%, kept since August 2013. In February 2015 the Reserve Bank of Australia (RBA) cut the rate only 0.25%, down to 2.25%. Some market participants deem that it is not enough for such a strong depreciation of the Australian dollar. The RBA meeting will take place next Tuesday. Most investors don’t expect additional rate cuts. In our opinion, these forecasts may buoy the Aussie.

technical-analysis-charts-aud-usd

Having a look at the H4 chart, the AUD/USD broke the triangle top with confidence. Now it is moving inside the uptrend price channel, so that it can be considered as the trend confirmation. The RSI-Bars chart also indicates the uptrend. Please note that its readings reached the overbought border and performed a pullback: the oscillator has not been below 50. This is a good “bullish” signal which implies the Australian dollar strengthening. We do not rule out the bullish momentum being developed after the fractal resistance breakout at 0.79: this level can be used for placing a pending buy order. Stop loss is to be placed at the last Parabolic signal, which can currently act as the support line at 0.782. After pending order placing, Stop loss is to be moved every four hours near the next fractal low, following Parabolic signals. Thus, we are changing the probable profit/loss ratio to the breakeven point. If the price meets stop loss level without reaching the order, we recommend cancelling the position: market sustains internal changes which were not considered.

PositionBuy
Buy stopabove 0.79
Stop lossbelow 0.782

Dear traders. For the detailed report of the strategy based on analytical issues of technical analysis click here.


IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger