April 1, 2020
By IFCMarkets
Lower commodity prices bearish for AUDUSD
Reserve Bank of Australia reported commodity prices decline deepened in March: exported commodity prices dropped 10.2% year over year following a 6% decline in February. Falling prices for commodities which account for over half of Australia’s export earnings. This is bearish for AUDUSD.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 0.6051 |
| Stop loss | Above 0.6136 |
Market Analysis provided by IFCMarkets
