The Australian dollar has surged on the back of increased risk appetite and the Federal Reserve’s neutral stance. Yesterday, the S&P 500 closed the day with a 1.05% gain, and this morning the S&P/ASX200 is up by 1.27%. The yield on 5-year US government bonds fell from 4.84% to 4.63% yesterday.
On the daily chart, the price has broken above the MACD indicator line. This move coincides with a similar move on the weekly chart, where the price has risen above the MACD line. AUD/USD is set for medium- or even long-term growth. The initial target for the uptrend is 0.6514, followed by 0.6612.
On the 4-hour chart, the price has already significantly distanced itself from the MACD indicator line, and the Marlin oscillator is showing initial signs of a pullback. The price may dip slightly and prepare for further growth after the release of US employment data tomorrow, which is expected to be weaker.
The material has been provided by InstaForex Company – www.instaforex.com
AUD/USD
The Australian dollar has surged on the back of increased risk appetite and the Federal Reserve’s neutral stance. Yesterday, the S&P 500 closed the day with a 1.05% gain, and this morning the S&P/ASX200 is up by 1.27%. The yield on 5-year US government bonds fell from 4.84% to 4.63% yesterday.
On the daily chart, the price has broken above the MACD indicator line. This move coincides with a similar move on the weekly chart, where the price has risen above the MACD line. AUD/USD is set for medium- or even long-term growth. The initial target for the uptrend is 0.6514, followed by 0.6612.
On the 4-hour chart, the price has already significantly distanced itself from the MACD indicator line, and the Marlin oscillator is showing initial signs of a pullback. The price may dip slightly and prepare for further growth after the release of US employment data tomorrow, which is expected to be weaker.
The material has been provided by InstaForex Company – www.instaforex.com
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