TriumphFX – Forex Analysis – AUD Pairs – April, May & June 2021


Previous analysis… https://analysis.dehuifx.com/2020/12/21/triumphfx-forex-analysis-aud-pairs-january-february-march-2021/

AUDCAD – Daily Chart

AUDCAD Daily Chart

As suggested in our last AUD chart analysis, the AUDCAD was bullish and found support around the trend support area.

Price has since been bearish and has swung below the trend support area, suggesting that the uptrend could be over. The AUDCAD is starting to look indecisive. The moving averages confirm the potential indecision – they are moving sideways.

Trading opportunities may exist around the previous trend support area (as resistance), around the daily moving averages and around any of the horizontal levels at 0.9015, 0.9245, 0.9715, 0.9890 and 0.9985.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to improve from April 2021 but have confessed that there is a great deal of uncertainty around the current pandemic and the path to economic recovery and growth.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

AUDCHF – Daily Chart

AUDCHF Daily Chart

The AUDCHF closed above the horizontal channel resistance area and has since been bullish, as suggested in our last chart analysis.

Price is up-trending – the AUDCHF has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and widening and price is above the recent consolidation area, signalling that the uptrend may continue. Price is currently finding resistance around 0.7230.

Buying opportunities could exist around the trend support area, around the dynamic support of the moving averages, if AUDCHF closes above 0.7230 and around the horizontal levels at 0.6905, 0.6730 and 0.6385. Price may continue to find resistance and even reverse around 0.7230.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The SNB are expecting economic growth from the 2nd quarter of 2021.

AUDJPY – Daily Chart

AUDJPY Daily Chart

As suggested in our last AUD analysis, price has been bullish and has swung higher.

AUDJPY is up-trending. The moving averages are bullish and widening, suggesting that the upside direction could continue. Price action is currently forming a potential inverted head and shoulder pattern, signalling that price could attempt a retrace move before swinging higher.

Long opportunities may exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 80.70, 79.60, 78.15, 73.25 and 72.65. A bullish move could find resistance around the recent highs at 85.05.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is performing well under the current COVID-19 economic crisis, relative to other 1st world countries.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

AUDUSD – Daily Chart

AUDUSD Daily Chart

Price reversed around the trend support area and was bullish, as suggested in our last chart analysis.

AUDUSD has been up-trending but a recent bearish move has swung below the trend support area, suggesting that upside momentum is weakening – the trend may becoming to an end. The moving averages confirm the potential market indecision – they are starting to move sideways. AUDUSD may start ranging between 0.7585 and 0.7965.

Trading opportunities could exist around the moving averages, around the previous trend support area (as resistance) and around the horizontal levels at 0.7000, 0.7380, 0.7585 and 0.7965.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

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