Technical analysis 28.06.19

AUDUSD

The pair is supported by the news of a truce in the US-China trade war, which somewhat reduces the overall market tension without, however, eliminating it completely. It can be assumed that the pair will continue to grow against the backdrop of these news, as well as due to today’s release of the PCE price index in the US and the personal income and expense data. If they don’t indicate growth, a more aggressive reduction of interest rates by the Fed will be expected, which will cause pressure on the USD rate.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory and is moving horizontally. Stoch are also there and aren’t informative.

Trading recommendations:

If the pair remains above 0.7000, it will continue moving up to 0.7070.