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AUD/USD: DAILY CHART TECHNICAL ANALYSIS

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A clear drawback break of 50-DMA nearby 0.7355 keeps AUD/USD sellers directed the 0.7300 round figure before demanding the key support of surrounding 0.7225 that comprises 23.6% Fibonacci retracement of the pair’s south-run from June 25 to August 20


Traders although the news seems to have a negative impact on AUD's value right now the increasing consumer confidence rate can help it bounce back and gain higher value ,what you need to understand is ,consumer confidence is an economic indicator that measures how confident people feel about their incomes stability


 It may serve as a key indicator for the overall shape of the economy


 A positive consumer confidence rate can help AUDs market to take off and go much higher but it would take some type of major move against the US dollar overall which we do not see any clarity yet in a short term.

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