By IFCMarkets
Trade balance surplus narrowing bearish for AUDUSD
Australia’s trade balance surplus narrowed in August to A5.93 billion from A6.00 billion. Will the AUDUSD decline?
The price chart on 1-hour timeframe shows AUDUSD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. And the Stochastic oscillator is above 50 level and hasn’t reached the overbought zone yet.
| Order | Buy |
| Buy stop | Above 0.6731 |
| Stop loss | Below 0.6711 |
Market Analysis provided by IFCMarkets