AUD/USD edges above its 50-day average but stays below the 200-day
AUD/USD closed Friday at 0.7035, up 0.8% over the past week and up 1.2% over the past month. The close sits just 0.1% below the 50-day moving average and 0.5% below the 200-day average, putting it in between the two short-term reference lines even after the recent bounce.
The trend rule classifies this market as Down, since the close sits below both the 50-day average (0.7045, which has been falling over the last 10 sessions) and the 200-day average (0.7071), with the 50-day still beneath the 200-day. The most recent confirmed swing high is 0.7014 from 14 October and the most recent confirmed swing low is 0.6894 from 15 October. The 52-week range runs from 0.6835 to 0.7280. On the weekly chart, price is below its 10-week average of 0.7076 but above its 40-week average of 0.7047.
RSI (14) stands at 58, a neutral reading that is neither near the 70 level some traders call overbought nor near the 30 level often called oversold. The last five daily closes have drifted higher in a narrow band: 0.7006, 0.7029, 0.7020, 0.7033 and 0.7035. Average daily range (ATR 14) is 0.0038, suggesting typical daily moves of under half a cent recently.
A daily close back above the 200-day moving average at 0.7071, or above resistance at 0.7140, would ease the current Down classification and put the next reference level, 0.7205, in focus. Conversely, a daily close below support at 0.6923 would point attention toward the next support at 0.6913, keeping the broader downtrend intact.
Australia's CPI y/y and Trimmed Mean CPI m/m data are due Wednesday 28 October at 00:30 GMT, with consensus at 4.2% y/y (prior 4.0%) and 0.3% m/m for the trimmed mean (prior 0.2%). This is the key scheduled release for AUD/USD this week and may influence volatility around the current technical levels.
- Daily prices: EODHD (AUDUSD.FOREX); trend, levels and RSI computed by Praevis
- Events: Praevis economic calendar