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U.S. stock index futures opened lower on Monday, with S&P 500 futures down 0.7% and Nasdaq futures down 0.8%.UK Government: The UK discussed with other leaders the situation in Ukraine and the catastrophic toll the war is taking on both sides; the potential sanctions if Russia fails to seriously engage in ceasefire and peace talks; and the need for an unconditional ceasefire and for Russian President Vladimir Putin to take peace talks seriously.British Prime Minister Starmer spoke to the leaders of the United States, Italy, France and Germany.1. Ukraine said that Russia launched the largest drone airstrike since 2022. 2. US Secretary of State: Russia and Ukraine may hold talks in the Vatican. Russia is preparing a list of "ceasefire requirements" in Ukraine. 3. Financial Times: Russian President Putin refused to discuss the peace plan proposed by the United States, Ukraine and Europe. 4. Putin: Russia respects the interests of the United States and expects to be treated the same. 5. Medvedev: The "ultimatum" of Western countries will not help end the Russian-Ukrainian conflict. 6. What kind of special military action results does Russia need to achieve? Putin responded: 1. Eliminate the root causes of this crisis; 2. Create conditions for lasting and stable peace; 3. Ensure the security of the Russian nation; 4. Safeguard the rights and interests of those who regard Russian as their mother tongue and Russia as their motherland.FOMC permanent voting member and New York Fed President Williams will deliver a speech in ten minutes.

Price Analysis: AUD/USD Advances Toward 0.6740 Ahead Of PBoC's Decision

Alina Haynes

Apr 19, 2023 16:00

AUD:USD.png 

 

The AUD/USD pair strengthened to near 0.6740 after a gradual retracement. In light of the weakening U.S. dollar and the upward revision of China's growth rate forecast, the demand for Australian dollars was exceptional. The US Dollar Index (DXY) is exhibiting a dearth of volatility prior to the release of the Federal Reserve's (Fed) Beige Book.

 

The Australian Dollar remained active on Tuesday after the Reserve Bank of Australia (RBA) minutes were released. The RBA minutes revealed that policymakers actively debated a rate hike, but ultimately decided to maintain the current 3.6% rate. Philip Lowe, the governor of the Reserve Bank of Australia, stated that the central bank needs more time to compile information prior to taking action.

 

After a robust quarterly performance, forecasting agencies were enthusiastic about increasing their projections for China's Gross Domestic Product (GDP). In the future, the People's Bank of China's (PBOC) interest rate determination will be the primary event. Australia is China's greatest trading partner, and optimistic economic forecasts from China would benefit the Australian Dollar.

 

The AUD/USD exchange rate is exhibiting an Inverted Flag pattern on an hourly time frame. The Inverted Flag is a trend-following pattern that consists of a protracted consolidation followed by a decline. Participants prefer to enter an auction after a bearish bias has been established, and current vendors increase their position size during the consolidation phase of a chart pattern.

 

The 20-period Exponential Moving Average (EMA) is superimposed on the price of the asset at 0.6720, indicating lackluster performance.

 

Currently, the Relative Strength Index (RSI) (14) fluctuates between 40.00 and 60.00, indicating the absence of a possible trigger.

 

A future break above the March 22 high of 0.6759 will propel the asset toward the April 3 high of 0.6693. A breach above the latter would cause the asset to reach a new low on February 6 of 0.6855.

 

A breach of the April 10 low at 0.6620 would expose the Australian dollar to the March 10 low at 0.6564, followed by the round-number support at 0.6500, according to an alternative scenario.