AUDUSD Analysis: Higher than expected Australia’s current account surplus bullish for AUDUSD

June 2, 2020

By IFCMarkets

Higher than expected Australia’s current account surplus bullish for AUDUSD

Australia’s current account surplus rose more than expected in first quarter: the current account surplus jumped to A$8.4 billion in Q1 from A$1.7 billion for the last three months of the 2019, when an increase to 6.3 billion was expected. This is bullish for AUDUSD.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelNeutral
MA(200)Buy
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 0.6868
Stop lossBelow 0.6774

Market Analysis provided by IFCMarkets