AUDUSD Analysis 22.04.2019

The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its fourth session rebound since February 21 against the US dollar amid tight economic data by the Australian economy as it is absent due to the Easter holiday in most global countries and on the brink of developments And economic data expected Monday by the US economy, the largest economy in the world.

At 02:28 GMT, the AUDUSD fell 0.17% to 0.7140 compared to the opening levels of 0.7149, after recording a low of 0.7139 and a high of 0.7139.

Investors are currently waiting for the US economy to release housing data as the Existing Home Sales Index, which may reflect a decline of 3.7% to 5.31 million, versus 11.8% at 5.51 million homes in February. Initial US GDP reading for the first quarter by the end of this week.

Technical analysis:

There is no change in the Australian dollar against the US dollar due to the Easter holiday as the movement continues below the SMA 50 now, and the price remains within the bullish intraday channel that appears in the picture, noting that exceeding the current barrier may push the price to test the channel support at 0.7090 before Go back up again.

Overall, we continue to push the overall bullish trend unless the level of 0.7090 and the most important 0.7044 are broken below it, with the next target at 0.7250.

The trading range for today is expected among the support at 0.7090 and resistance at 0.7220.

The general trend for today is bullish.