Daily Market Forecast By Capitalcore

[Capitalcore]

AUDUSD Pair Faces Bearish Pressure on H4 Chart

AUD/USD, commonly referred to as the "Aussie," represents the exchange rate of the Australian dollar against the U.S. dollar. It is one of the most actively traded currency pairs globally, reflecting the economic dynamics between Australia and the United States. Fundamental analysis indicates potential volatility today due to crucial news events including the Reserve Bank of Australia's (RBA) interest rate decision and rate statement, both influential in guiding traders' expectations regarding future monetary policy. Positive or hawkish signals from the RBA, hinting at higher interest rates or stronger economic outlooks, would likely strengthen the Australian dollar. Conversely, commentary from Federal Reserve Governor Michelle Bowman at the Santander Banking Conference, combined with U.S. consumer confidence data from RealClearMarkets, may influence USD strength depending on perceived economic optimism or signals toward future Fed policy adjustments.

Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
Technically, the AUD/USD H4 chart today indicates short-term bearish momentum, evident from the latest five consecutive bearish candles. The AUDUSD price action is currently within a narrowing Ichimoku green cloud, suggesting reduced volatility and potential trend uncertainty. Both Leading Spans A and B have flattened, hinting at indecision in market direction. The last candle closed below both the baseline (Kijun-sen) and conversion line (Tenkan-sen), aligning closely with the lagging span (Chikou Span). Additionally, the recent volume has been predominantly bearish, supported by four consecutive red volume bars. MACD indicators (12,26) are currently negative at -0.00029 and -0.00048 respectively, with a histogram reading at 0.00019, further suggesting bearish sentiment and possible continuation of the downward price action in the short term.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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