AUD-USD Weekly Prediction - Bulls might have unused their chance - April 26 - 30

US positive data is not sufficient to turn the banks decision, at least for now.

AUD-USD technical values provide a bullish trend for the meantime.

The AUD-USD duo alternated between losses and profits to round up the week much unmoved, staying at 0.773.

Cheering statistics on both sides

The economic calendar has been fairly uneventful in the past couple of days, but the figures that rolled out amplified confidences. The Westpac Leading Index for the month of March published at 0.380%, advancing from the preceding 0.170%. The Business Confidence - NABs- surged to 17 in Q1, up from 14 in the former quarter of the year 2020. Furthermore, the initial estimation of Retail Sales for March rolled out at 1.4%, thrashing the anticipated 1% and jumping from negative 0.80% in February.

United States statistics was assorted, as Existing Home Sales figures plunged in March, dejected by 3.7%. Nevertheless, stockholders applauded an additional successive weakening in weekly joblessness figure, which thinned to 547K in the week ended April 16.

Next Monday, the United States will issue an order for the March Durable Goods, predicted up 1.8% after dwindling by 1.2% in the past month. The following important happening will be the US Central Bank financial policy conference. The Fed is extensively expected to uphold rates and place QE unmoved. Though things look to be improving decebtly in the United States, it however appears too premature to suppose variations even in officials´ pomposity.

On Wednesday, Australian inflation data for the first quarter will be issued, with the first quarters CPI seen stable at 0.9%.

AUD-USD Technical Overview

On the weekly chart, the AUD-USD pair displays that it is overhead a bullish 20 SMA, which retains advancement directly above the lengthier ones. Technical pointers lack steering forte, with the Relative Strength Index down at around 60-64 and the energy progressing but within unbiased heights.

With the daily chart, the pair provides an almost-neutral bearing as the 20 and 100 SMAs move slightly higher, meeting at around 0.7671. Technical gauges remain firm above their neutrals but lack steering strength. The daily chart also displays that an effort to move past 0.7800 was swiftly disallowed, and that bulls are shielding the 0.770 price region.

Important supports are at 0.766, 0.760 and 0.753, the three-monthly lows. To advance upward, the duo needs to progress past 0.782 in other to spread its profits in the direction of the 0.7900 area.

AUD-USD Sentiment Overview

Reoccurring bears are a mainstream in the time frames considered in the study, on middling, the pair is seen staying above the 0.7600 price level.

The figures of likely goals have contracted more, causing moving averages to remain virtually flat. The monthly boundaries is set between 0.740 and 0.790, while the trimestral range spreads a bit to the upside, with a test of the 0.80 price on the cards.