Baxia Markets
August 25, 2022

AUDUSD - 0.34%

big mover analysis top header -1

The Australian dollar lost 2.95% in the last eight trading sessions; the US dollar continues strengthening across all major currency pairs despite a worse than expected reading of the Durable Goods Orders MoM economic indicator; the figure came out at 0% while the expert consensus was at 0.6%.


The US dollar strength is mostly coming from the hawkish expectations at the Jackson Hole Economic Symposium, where the board of governors of the Federal Reserve and the Federal Open Market Committee have equal authority to set interest rates in the US.



TW_Big Mover - Black AIG (3)


The pair is trading below the short and long-term moving averages, and the trend continues to be downwards; we saw a retracement during the previous two trading sessions, which is allowing the USD to gather more strength to continue gaining ground against the AUD.


The Bollinger bands are wide, allowing high volatility in the upcoming trading sessions; the price is trading at a fair level since it is inside the bands. We could see the price reach the 0.684 levels in the upcoming sessions.


The price is trading inside the Ichimoku cloud, suggesting market uncertainty; we could see the price stay inside the cloud for a few sessions before we have a breakout confirmation. Our parabolic SAR indicator suggests that the price will likely move downwards, strengthening the short signals.


The relative strength index is at 46%, allowing the pair to move in either direction before entering an oversold or overbought status.



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forex, trading conditions, technical analysis, fundamental analysis

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