{"id":125081,"date":"2018-04-13T09:41:15","date_gmt":"2018-04-13T13:41:15","guid":{"rendered":"http:\/\/countingpips.com\/?p=125081"},"modified":"2018-06-01T15:40:53","modified_gmt":"2018-06-01T15:40:53","slug":"audusd-forex-technical-analysis-positive-data-bullish-for-audusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/audusd-forex-technical-analysis-positive-data-bullish-for-audusd\/","title":{"rendered":"AUDUSD: Forex Technical Analysis – Positive data bullish for AUDUSD"},"content":{"rendered":"
April 13, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Positive data bullish for AUDUSD<\/strong><\/p>\n

February retail sales and trade surplus were higher than expected. Will the AUDUSD <\/a> advance continue?<\/p><\/blockquote>\n

The Reserve Bank of Australia left the interest rate at 1.5% and the policy unchanged at its April 3 meeting. Australian economic data have been mostly better than expected recently: retail sales growth accelerated in February increasing above expected 0.6% on month after 0.5% growth in January. And while the balance of trade surplus slipped in February the decline was smaller than expected, and the AIG\/Housing Industry Association Australian Performance of Construction Index rose to 57.2 in March of 2018 from 56.0 in a month earlier. Positive data are bullish for AUDUSD. However deterioration of consumer confidence after marginal decline in Westpac Consumer Confidence Index in April to 102.4 from 103 a month earlier, and expected rise in unemployment rate to 5.6% in March from 5.5% due to be released on April 19 2018 pose downside risks for Australian dollar.<\/p>\n

\"AUDUSD\"<\/p>\n

On the daily timeframe AUDUSD: D1 <\/b> is retracing higher after hitting thirty-five-month high in the end of January. The price has breached above the 200-day moving average MA(200).<\/p>\n