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Focus on AUDUSD today – 26th June, 2024 

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the AUDUSD for June 26, 2024. 

Key Takeaways 

  • Australian inflation: Today’s latest May weighted CPI annual rate was 4%, higher than the expected 3.8%, indicating that price pressures remain stubbornly strong and strengthens the case for the Reserve Bank of Australia to resume rate hikes. After the data was released, the Australian dollar rose and the yield of the policy-sensitive three-year bond also rose. 
  • Bullock’s attitude: The Governor of the Reserve Bank of Australia, Bullock, said last week that after keeping the benchmark interest rate at a 12-year high of 4.35%, the possibility of raising interest rates is not ruled out, and policymakers remain vigilant about the upward risks of inflation. The rise in CPI may increase speculation that the Reserve Bank will raise interest rates at its August meeting. 

Technical Analsis 

Daily Chart Insights 

  • MACD: Th column gradually slowed down and flattened, suggesting that bullish sentiment slowed down. The entanglement of the MA and the column suggests that the current exchange rate is still in a corrective stage, and there is no clear trend direction. 
  • Converging consolidation: The moving support formed by the black 65-day moving average and the red 33-day moving average prevents the Australian dollar from further depreciation. The high point of the exchange rate rebound also continued to fall, and the downward trend line gradually formed a convergent oscillation pattern. 

1-hour Chart Analysis 

  • Stochastic oscillator: The indicator enters the oversold area and sends a long signal, suggesting that the current long force occupies the upper side in the short term. After waiting to leave the oversold area, you can pay attention to whether there are short signals worth paying attention to. 
  • Price Action: The exchange rate is currently clearly in a long and short unclear stage. Any form of rise and fall cannot be used as a basis for entry. It is more necessary to observe whether the exchange rate has signs of retreating and breaking through after breaking through the short-term MA group. At that time, the success rate of entering the market with the trend is relatively high. 

Pivot Indicator 

  • According to the trading central in Ultima Markets APP, the central price of the day is established at 0.6660, 
  • Bullish Scenario: Bullish sentiment prevails above 0.6660, first target 0.6675, second target 0.6690; 
  • Bearish Outlook: In a bearish scenario below 0.6660, first target 0.6630, second target 0.6615. 

Conclusion 

To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you with valuable insights to empower your financial journey. 

For personalized guidance tailored to your specific financial situation, please do not hesitate to contact Ultima Markets. 

Join Ultima Markets today and access a comprehensive trading ecosystem equipped with the tools and knowledge needed to thrive in the financial markets. 

Stay tuned for more updates and analyses from our team of experts at Ultima Markets. 

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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission “FSC” of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius. 

Copyright © 2024 Ultima Markets Ltd. All rights reserved. 

Disclaimer   

Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.  

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