AUDUSD Analysis: Rising Australian building approvals bullish for AUDUSD

January 8, 2020

By IFCMarkets

Rising Australian building approvals bullish for AUDUSD

Building approvals in Australia rose 11.8% over month in November, 2019. Will the AUDUSD rise?

AUDUSD rising toward MA(200)

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 declining. The Stochastic oscillator is about to reach the oversold zone.

Technical Analysis Summary

OrderBuy
Buy stopAbove 0.6886
Stop lossBelow 0.6866

Market Analysis provided by IFCMarkets