Technical analysis of AUD/USD for June 08, 2018 888011000 110888 AUD/USD is expected to trade with a bearish outlook. The pair keeps trading on the disadvantage after pulling away from a high of 0.7675 seen yesterday. Presently it remains capped by the coming down 20-period moving average, which has actually simply crossed listed below the 50-period one. And the relative strength index is yet to recover the neutrality level of 50, revealing a lack of upward momentum for the set. Unless the crucial resistance at 0.7630 is breached, a return to 0.7560 and 0.7525 on the downside is expected.Fundamental Overview: The Australian economy looked healthy in 1Q, it was not without some serious flaws. It grew 3.1 %on-year, which was above pattern, but the household sector wasn’t part of the party. The home cost savings ratio dropped to a decade low. The things that drove development like exports, may not have the exact same repeat performance. Citi argues family consumption growth is unlikely to accelerate without a pick-up in wages growth.Inflation therefore looks set to stay mild, keeping the RBA on hold.Chart Description: The black line shows the pivot point. Currently, the rate is above the pivot point which is a signal for long positions. It will show short positions if it stays listed below the pivot point. The red lines show the assistance levels, while the green line indicates the resistance levels. These levels can be utilized to go intoand exit trades.Resistance levels: 0.7630, 0.7645, 0.7675Support levels: 0.7560, 0.7525, 0.7495The material has been offered by InstaForex Business – www.instaforex.com

By | June 8, 2018

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