Technical Analysis: AUDUSD

AUDUSD climbed to a three-week high

On Monday, AUDUSD continued rising. It reached a three-week high of the 0.710 mark for some time.

The USDX fell for six consecutive trading days

On Monday, the USDX decreased for the 6^th straight trading day and broke below the 99 mark. It ended down 0.25% at 98.42.

Chinese CPI failed to meet expectations year on year in March

Chinese CPI, y/y (March) fell from 1.3% to 1% Vs. 1.2% (forecast), according to the data from the National Bureau of Statistics of China.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, AUDUSD rose steadily. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that AUDUSD will rise further. Investors should focus on whether AUDUSD will break through the resistance at 0.712. It will jump with potential resistance at 0.718 if it breaks above 0.712.

4-hour chart

On the 4-hour chart, AUDUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether AUDUSD will break through the support at 0.706. It will climb if it retreats but is stable above 0.706.

Key resistance: 0.712,0.718

Key support: 0.706,0.702

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as AUDUSD retreats during the day.