AUDUSD Analysis: Rising trade surplus in Australia bullish for AUDUSD

May 7, 2020

By IFCMarkets

Rising trade surplus in Australia bullish for AUDUSD

Australia’s trade surplus rose in March: the surplus rose to A$10.6 billion in March from A$3.87 billion in prior month, when an increase to A$6.4 billion was expected. This is bullish for AUDUSD.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelBuy
MA(200)Sell
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 0.6473
Stop lossBelow 0.6401

Market Analysis provided by IFCMarkets