AUDUSD Analysis 25.04.2019

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound from its lowest level since March 8 against the US dollar amid a lack of economic data by the Australian economy as it is absent due to Anzac holiday and on the eve of economic developments and data expected Thursday from Ahead of the US economy, the world's largest economy.

At 02:22 GMT, the AUDUSD rose 0.09% to 0.7021 compared to the opening levels of 0.7015, after reaching a high of 0.7022, while the seven-week low at 0.7004.

Investors are eyeing the US economy for a reading of durable goods orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 0.7% rise from 0.3% in February. The core reading of the index itself rose 0.2% from 0.1% in February.

This comes in conjunction with the reading of the index of requests for aid, which may show a rise of 7 thousand applications to 199 thousand applications during the last week last Saturday, as may show the reading of the index of continuing requests for a rise by 29 thousand applications to 1,682 thousand applications during the week in the past 13 This month, before we see the US Treasury Department's semi-annual report on international economic and exchange rates.

Technical analysis:

The AUDUSD ended yesterday's trading below 0.7044, to activate the bearish scenario over the short and short term, paving the way for achieving negative targets starting at 0.6915 and extending to 0.6800.

SMA 50 supports the expected decline, which will remain intact unless the levels of 0.7044 and 0.7110 are breached and stability above it.

The trading range for today is expected among the support at 0.6950 and the resistance at 0.7080

The general trend for today is bearish