Forex Analysis & Reviews: Technical review for AUD/USD: the pair is awaiting the release of the latest employment report from the US | InstaForex

Supply Trends Resurface: Analyzing the Impact on Market Dynamics

Relevance up to 11:00 2022-06-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Read more: https://www.instaforex.eu/forex_analysis/312874

AUD/USD is trading above 0.7245 ahead of the release of the latest employment report in the US. The market's reaction may be mixed, but the preservation of yesterday's positive sentiment will lead to a further price increase, while a change will lead to a decline.

technical picture:

The quote is above the middle line of the Bollinger indicator, below SMA 5, but above SMA 14. The relative strength index (RSI) is below the overbought zone and is moving horizontally, while the stochastic indicator is leaving the overbought zone .

Possible dynamics:

The pair is likely to be under pressure today. In that case, dropping below 0.7245 will trigger a further fall to 0.7155.

 

Exchange Rates 03.06.2022 analysis
Supply Trends Resurface: Analyzing the Impact on Market Dynamics

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