Australian Dollar - Dollar Analysis

Evening Analysis for CFD Instruments 06/12/2018

Fundamental analysis

06 December, 2018

AUD/USD was down additional 0.87% on Thursday to hit a three-week low of 0.71895. The Aussie, sensitive to swings in risk sentiment, was already on a shaky footing after shedding nearly 1 percent the previous day on weaker-than-expected third quarter Australian gross domestic product data. Adding to the jitters on Thursday was the arrest in Canada of a top executive of Chinese tech giant Huawei Technologies, fanning fears of a flare-up in tensions between China and the United States just as the two sides are supposed to be resuming trade negotiations. China’s Commerce Ministry is due to hold its weekly news briefing later on Thursday (December 6), where it could offer more details on China’s understanding of what had been agreed to between US and China on December 1 in Argentina. Earlier overnight, data in Australia showed that retail sales edged up 0.3% over the month of October. However, it is still a far from robust performance, with September's result being revised down to 0.1% growth. In a separate report, data showed that Australia’s Trade Balance surplus contracted in October to AUD 2.316 billion, compared to expected AUD 3.100 billion, and September’s AUD 2.940 billion. Later this afternoon, the US dollar should be expected to come under volatile pressure due to several economic data releases. In fact, this afternoon, ADP Nonfarm Employment Change for November, Initial Jobless Claims, Trade Balance and ISM Non- Manufacturing PMI will be released in the US.

Technical analysis

Australian Dollar - Dollar Analysis Technical analysis 06/12/2018
Time Frame: 1 hour

AUDUSD Support & Resistance Table - 06/12/2018

Support & Resistance Level Explanation
Resistance 2 0.7269 Daily R2
Resistance 1 0.7236 Daily R1
Support 1 0.7176 Daily S1
Support 2 0.7143 Daily S2

AUDUSD Indicator Table - 06/12/2018

Indicator Signal
SMA 20 Sell
SMA 50 Sell
SMA 100 Sell
MACD( 12;26;9) Sell
RSI (14) Buy
Stochastic ( 9;6;3) Buy

AUDUSD Indicator / Period Table - 06/12/2018

Indicator / Period Day - SellWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellSell
RSI (14) Buy SellSell
SMA 20 Sell SellSell

AUDUSD 06/12/2018 - Reference Price : 0.7208

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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