AUDUSD Technical and Fundamental Analysis; 4hr/TF
First thing which we establish depicting the 4hr/TF of AUDUSD are the levels of support and resistance.
Our vital Support level was present at approximately 0.63180, following our level of Resistance at 0.68550.
Furthermore, @0.63400 we receive an insight of a Triple Moving Average crossover amongst 4, 9, and 18 day charts.
Price then accelerates across moving average as it moves into a Bullish engulfing candlestick, allowing us to identify our ascending pattern on the 4/hr.
Our first target of @0.6500 was hit indicating continuous support via our EMA50, reinforcing the chances of a constant rise.
Fundamentals:
USD Jobless Claims Report - Thursday 30th April
USD (ISM) Manufacturing PMI - Friday 1st May
Our vital Support level was present at approximately 0.63180, following our level of Resistance at 0.68550.
Furthermore, @0.63400 we receive an insight of a Triple Moving Average crossover amongst 4, 9, and 18 day charts.
Price then accelerates across moving average as it moves into a Bullish engulfing candlestick, allowing us to identify our ascending pattern on the 4/hr.
Our first target of @0.6500 was hit indicating continuous support via our EMA50, reinforcing the chances of a constant rise.
Fundamentals:
USD Jobless Claims Report - Thursday 30th April
USD (ISM) Manufacturing PMI - Friday 1st May
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