Recommendation for AUD/USD: Buy
Buy Stop: Above 0.7760.
Stop Loss: Below 0.7705.
Donchian Channel : Neutral.
Parabolic SAR: Buy.
The AUDUSD technical analysis of the price chart on 1-hour timeframe shows AUDUSD: H1 is rising above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.7760. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.7705. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend canceling the order: the market has undergone internal changes which were not taken into account.
Australia’s employment rose more than expected in March. Will the AUDUSD continue rebounding? Australia’s employment rose more than expected in March: Australian Bureau of Statistics reported 70,700 jobs were created in March after 88.7 thousand in the previous month when the addition of 35.2 thousand new jobs was forecast. This is bullish for AUDUSD.
This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.