AUD/USD - the pair that has been remaining in the bearish trend for a very long time. Starting from October we saw the local growth in Australian currency, but after a while the downtrend continued.
Fundamental analysis
Australian retail sales last week were worse than the forecast (growth by 0,2% against the forecast +0,5%)
Despite this fact RBA took the decision to leave the interest rate on +0,75%. BUT, the Regulator annonced that it is ready to adjust its monetary policy if needed (RBA Says To Ease Policy If Needed To Support Sustainable Growth)
This week - pay attention, please on the US consumer price index ( CPI ), published on Wednesday 13.11
On Thursday we expect the unemployment rate in Australia
Technical analysis
After trend line breakthrough we might expect that the downtrend will continue
MACD lines intersected
DMI lines are heading down
The support level is on 0,68000. The resistance line is on 0.68800
Fundamental analysis
Australian retail sales last week were worse than the forecast (growth by 0,2% against the forecast +0,5%)
Despite this fact RBA took the decision to leave the interest rate on +0,75%. BUT, the Regulator annonced that it is ready to adjust its monetary policy if needed (RBA Says To Ease Policy If Needed To Support Sustainable Growth)
This week - pay attention, please on the US consumer price index ( CPI ), published on Wednesday 13.11
On Thursday we expect the unemployment rate in Australia
Technical analysis
After trend line breakthrough we might expect that the downtrend will continue
MACD lines intersected
DMI lines are heading down
The support level is on 0,68000. The resistance line is on 0.68800