AUD / USD overview from April 13, 2021
AUD / USD continues to decline moderately and is currently trading in the area of the important level of 0.7600.
According to the assurances of the Australian authorities, the epidemiological situation in the country is under control, however, the Reserve Bank of Australia admits a decrease in economic indicators in the second quarter. First of all, the Central Bank is concerned about the dynamics of inflation, which in March fell to 0.9%. The March business confidence index dipped from 18 to 15 p.
The US dollar index is consolidating around 92.300. Yesterday, the United States Treasury Department released a report according to which the US budget deficit for the first half of the year reached $ 1.7 trillion, a new record. This is understandable, since the United States authorities poured fabulous amounts of money into the economy to fight the pandemic.
According to the H4 chart, AUD / USD is falling within the boundaries of the moderately ascending channel. The fan of averages of the Alligator indicator begins to straighten downward, the awesome oscillator indicator remains in the negative area and forms bearish bars.
The entry into sales will be indicated by the consolidation of the asset below 0.7577. The target level is 0.7470. Stop loss is set at 0.7610.
When the price consolidates above the resistance of 0.7632, we give priority to long positions in the direction of 0.7700 with a stop loss set at 0.7600.