Daily Analysis Forex Mix

[radex78]

Canadian Dollar strengthens against US Dollar, BOC Gov Macklem Speaks highlighted.

This week USDCAD experienced a significant decline, extending the previous week's decline. Yesterday the price drew a long body bearish candlestick indicating a strong decline forming a high of 1.35363 and a low of 1.34783 on FXOpen's chart. The price draws a bearish candlestick body along the middle band point to the lower band.

Recently, Bank of Canada (BoC) Governor Tiff Macklem stated that core inflation would continue to ease as expected and the inflation rate would get closer to the target of 2%, and keep inflation in the range of 1%-3%. Furthermore, there is a possibility that the BoC will reduce interest rates if all the incoming data supports a cut. The next decision is scheduled for October 23.

Market analysts now forecasted the possibility of interest rate cuts of 25 basis points at the next seven meetings. Since June the BOC has lowered interest rates in the last three decisions with a cumulative drop of 75 basis points to 4.25%.

Today, although there is no high impact category news schedule for the Canadian Dollar, traders may pay attention to data on US new home sales and Crude oil inventories.

USDCAD D1

USDCAD price is now moving outside the lower band line. Bollinger bands appear to be starting to expand, indicating increasing volatility.

The 200 MA above the middle band draws a flat channel. The 50 MA is above the 200 MA with a slight descending channel. In theory, MA 50 above MA 200 indicates an uptrend market. However, the price is below the trend line indicating a downtrend market.

The TDI indicator's VB high points to a value of 54 and VB low points to a value of 24. The difference of 30 reflects a rather high volatility value on the daily timeframe.

Market Base Line points to a value of 39 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI Price line shows a value of 30 crossing the TSL and MBL from the upper side indicating a downtrend entering the oversold level.

Trade Signal line points to a value of 42 with a downward channel indicating a market downtrend.

USDCAD H4

USDCAD price in the H4 timeframe is now outside the lower band line indicating a strong decline. Bollinger bands expand to reflect high market volatility.

The 200 MA near the upper band line draws a descending channel. MA 50 below MA 200 with a descending channel indicates a downtrend market where the price is below the indicator line.

The TDI indicator's VB high shows a value of 60 and VB low shows a value of 30. The difference of 30 reflects a rather high volatility value at the high end of the H4 timeframe.

Market Base Line points to a value of 45 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 26 crossing the TSL and the lower band line indicates the downtrend is in the oversold level.

The trade signal line points to a value of 34 with a downward channel indicating a market downtrend.

 

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USDCHF Rises Ahead of SNB Policy Rate

Yesterday USDCHF rose sharply drawing a long body bullish candlestick with almost no shadow on the top and bottom of the candle. Price formed a low of 0.84144, a high of 0.85067, and closed at 0.85012 on the FXOpen platform. Price rises from the lower band to approach the upper band line.

Ahead of the SNB interest rate decision the Swiss Franc performed weakly due to the strengthening of the USD which was supported by higher-than-expected US new home sales data. Actual new home sales data shows 716k from the forecast of 699k. However, the actual data is still lower than the previous revision of 751k.

The SNB is predicted to cut interest rates by 25 basis points from 1.25% to 1.00% in its interest rate policy decision which will be released today. Analysts expect the SNB to cut interest rates further as the Swiss economy's annual Consumer Price Index (CPI) has slowed to 1.1% in August. Investors will also look at the SNB Monetary Policy Assessment which may provide a picture of hawkish or dovish policy in the future.

Meanwhile, the Fed is predicted to cut interest rates by up to 50 basis points at its November meeting. According to the FedWatch tool by the CME Group, forecasts of the Fed cutting interest rates by 50 basis points rose by 59.2%, and forecasts of a 25 basis point cut by 40.8%.

Today investors are also waiting for US GDP data which is forecast at 3.0%, the same as the previous revision, and Unemployment Claims which is forecast at 224k from the previous revision of 219k. Markets will also consider Fed Chair Powell Speaks which may provide a hawkish or dovish policy picture before further interest rate decisions.

USDCHF D1

USDCHF price is now moving below the upper band line. Bollinger bands draw a flat channel with Bollinger band squeeze lines reflecting flat prices with low volatility.

The 200 MA is far above the price drawing a flat channel, the 50 MA has crossed the 200 MA from the upside giving a death cross signal with a potential downtrend.

The TDI indicator's VB high shows a value of 49 and VB low shows a value of 28. The difference of 21 reflects the low volatility value in the daily timeframe.

Market Base Line points to a value of 38 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI price line shows a value of 49 snaking near the TSL indicating an alternating trend.

TSL points to a value of 48 with an upward channel indicating an uptrend market.

USDCHF H4

USDCHF in the H4 timeframe is now moving between the upper and middle band lines. Bollinger bands draw a flat channel with wide band spacing indicating high market volatility.

The 200 MA near the upper band line draws a channel that starts to flatten, while the 50 MA near the middle band line draws a flat channel below the 200 MA indicating a sideways market.

The TDI indicator's VB high shows a value of 63 and VB low shows a value of 38, a difference of 25 reflects the low volatility value in the H4 timeframe.

The market base line shows a value of 50 with a flat channel, meaning the market is neutral.

The RSI price line shows a value of 59 which has crossed the TSL and MBL from the lower side, indicating an uptrend market.

The trade signal line points to a value of 49 with an upward channel indicating an uptrend market.

 

[radex78]

GBPUSD rises to hit new highs amid supportive US data

USD strengthened amid supportive US data, US GDP showed actual data of 3.0%, in line with expectations, the same as the previous revision of 3.0%. On the other hand, Unemployment Claims showed actual data of 218k lower than the forecast of 224k from the previous revision of 222k. Meanwhile, Core Durable Goods Orders were 0.5% higher than the forecast of 0.1% from the previous revision of -0.2%. Advance durable goods 0.0% from forecast -2.8% from the previous revision of 9.8%.

GBPUSD yesterday drew a long-body bullish candlestick with a Low of 1.33000, a high of 1.34335, and a close at 1.34140 on the FXOpen platform. The pair has set new record highs throughout 2024.

The Fed has recently cut interest rates by 50 basis points which has had an impact on global markets, some investors are even predicting the possibility that a rate cut might be carried out by the Fed in response to the slowing US economy even though the Fed Chair Jerome Powell last week confirmed the Fed's move is not a quick response to potential recession data, but rather a precautionary step to help shore up the US workforce.

According to the FedWatch tool from the CME Group, the forecast for the Fed cutting interest rates by 50 basis points is 51.1%, and the forecast for a 25 basis point cut is 48.9%.

Today, investors are waiting for the release of Personal Consumption Expenditure (PCE) inflation data, which is the Fed's most preferred indicator in determining the direction of interest rate policy. The Core PCE Price Index is forecast at 0.2%, the same as the previous revision of 0.2%.

GBPUSD D1

GBPUSD on the daily timeframe is now moving near the upper band line, this pair fell earlier on Wednesday at a low of 1.33118. Bollinger bands appear to be expanding, indicating high market volatility in the daily timeframe.

MA 200 draws an upward channel far below the price, and MA 50 above MA 200 draws an upward channel indicating an uptrend market.

The VB high TDI indicator shows a value of 74 and the VB low shows a value of 51. The difference of 23 reflects the value of moderate volatility in the daily timeframe.

Market Base Line points to a value of 63 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI price line is pointing at 67, drawing a slight upward channel indicating an uptrend market is entering the overbought zone.

The trade signal line pointing to the value 67 has crossed the MBL from the downside with an upward channel indicating an uptrend market.

GBPUSD H4

GBPUSD in this time frame is now moving slightly below the upper band line. The BB line draws an upward channel with fairly wide band spacing, indicating an uptrend with moderate volatility.

The 200 MA is far below the lower band drawing an ascending channel. The 50 MA above the 200 MA draws an ascending channel near the lower band line indicating an uptrend.

The VB high TDI indicator shows a value of 76 and the VB low shows a value of 51. The difference of 25 reflects the value of moderate volatility in the H4 timeframe.

Market Base Line shows the value 63 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line pointing to a value of 64 has crossed the TSL and MBL from the lower side, indicating an uptrend market is approaching the overbought zone.

The Trade Signal Line points to a value of 57, drawing an upward trend indicating an uptrend market.

 

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The increase in gold prices was paused after the PCE data was released

Last week gold prices reached a record high of $2685 on Thursday, then gold prices declined on Friday to a low of $2642 on the FXOpen platform. One of the reasons for the decline in gold may be due to the release of PCE data.

Quoted from the Bureau of Economic Analysis, the PCE price index increased by 0.1%. Excluding food and energy, the PCE price index increased 0.1%. Real DPI increased by 0.1% in August and real PCE increased by 0.1%; goods increased by less than 0.1% and services increased by 0.2%.

Previously it was estimated that the Core PCE price Index was 0.2%, after the release it was only 0.1%. Lower values are usually less favorable for a currency. PCE is one of the Fed's main inflation measures for interest rate policy, low inflation allows the Fed to cut interest rates for real economic growth.

According to the FedWatch Tool by CME Group, the Fed's forecast for cutting interest rates by 50 basis points is 52.8% and the forecast for a 25 basis point cut is 47.2% on November 7 next month.

Today's news that may concern investors is China's Manufacturing PMI which is forecast to rise to 49.4 from the previous revision of 49.1. Gold traders consider Chinese economic data important because China is one of the largest global gold-importing countries. PMI values below 50 are usually still considered contraction, and values above 50 indicate expansion.

On the other hand, geopolitical turmoil still supports the trend of gold as a safe-haven asset. Fears of the outbreak of nuclear war could increase the value of gold as investors' most sought-after precious metal.

XAUDUSD D1

Gold price is now moving near the upper band line. Bollinger bands still appear to be expanding, indicating high market volatility.

MA 50 near the lower band line drawing an ascending channel above MA 200 indicates an uptrend market.

The TDI indicator's VB high shows a value of 75 and VB low shows a value of 53. The difference of 22 reflects gold's low volatility on the daily timeframe.

Market Base Line points to a value of 64 with a slight upward channel, meaning the weight of bullishness is greater than bearish.

The RSI price line pointing to a value of 73 crossing the TSL from the upside indicates that the price is in the overbought zone trying to go down.

The trade signal line points to a value of 74 with an upward channel indicating an uptrend market.

XAUUSD H4

In the H4 timeframe, gold prices move near the middle band line. Bollinger band squeeze appears in this time frame indicating low volatility waiting for a breakout.

MA 50 below the lower band drawing an ascending channel above MA 200 indicates an uptrend market.

The TDI indicator's VB high points to a value of 79 and VB low points to a value of 57. The difference of 22 reflects gold's low volatility in the H4 timeframe.

Market Base Line shows a value of 68 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 55 across the TSL and MBL from the upper side indicating a downtrend market.

The trade signal line shows a value of 59 crossing the MBL from the upper side indicating a downtrend market.

 

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USDJPY rebounds half body of previous candlestick, waiting for Japanese job data

The USD/JPY currency pair at the end of last week drew a long bearish candlestick with a long shadow on the top candle. In trading on Monday, the price rebounded half the body of the previous candle with a low of 141,636 and a high of 143,907 on the FXOpen platform.

The new Japanese Prime Minister Shigeru Ishiba who won the Japanese prime ministerial contest has given a dovish statement weighing on the Japanese Yen where according to him monetary policy should be accommodative as the trend and directs it to depend on data. At its September meeting the BOJ left interest rates unchanged at 0.1%-0.25%.

On the other hand, the Fed indicated the possibility of reducing interest rates back to normal if all recovery targets can be achieved. "Going forward, if the economy expands broadly as expected, policy will move toward a more neutral stance over time," Powell said in Nashville, Tenn. at a conference hosted by the National Association for Business Economics.

Today investors are waiting for Japan job data. Japanese Unemployment Rate is forecasted to fall by 2.6% from the previous revision of 2.7%. Data will released by the Statistics Bureau of Japan. Apart from that, traders will also anticipate hawkish statements in the BOJ Summary of Opinions news release which may provide projections for future monetary policy.

USDJPY D1

The price of the USDJPY pair is now moving slightly above the middle band line. The Bollinger band is deflating, indicating a decrease in market volatility.

MA 50 draws a descending channel below MA 200 indicating a market downtrend. Meanwhile, the 200 MA is drawing a flat channel.

The TDI indicator's VB high shows a value of 50 and VB low shows a value of 28. The difference of 22 reflects the low volatility value of USDJPY in the daily timeframe.

Market Base Line points to a value of 39 with a flat channel, meaning the weight of bearish is greater than bullish.

The RSI price line points to a value of 48 with a flat channel indicating a sideways market.

The trade signal line points to a value of 48 with a flat channel indicating a sideways market.

USDJPY H4

USDJPY price is now moving near the middle band line. Expanding Bollinger bands reflect high market volatility.

The 50 MA near the middle band draws a flat channel below the 200 MA. The short distance between the 20 MA and the 200 MA almost meeting indicates the possibility of a fading downward trend.

The VB High TDI indicator points to a value of 69 and the VB low points to a value of 37. The difference of 32 reflects a rather high USDJPY volatility value in the H4 timeframe.

Market Base line shows a value of 53 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 51 crossing the TSL from the downside drawing an upward channel indicating an uptrend market.

The trade signal line points to a value of 45 with an upward channel indicating an uptrend market.

 

[radex78]

Gold prices rose amid heated geopolitical risks

Yesterday the price of gold rose again to around $2661 on the FXOpen platform. The price of gold yesterday formed a low of $2631 and a high of $2672 after falling to $2624 in trading on Monday.

The confrontation between Iran and Israel is thought to be one of the reasons gold rose again. Meanwhile, gold selling activity was somewhat limited amid Western investors' concerns about increasing monetary inflation due to the Fed's aggressive easing in response to worsening economic and financial conditions despite Powell's dismissal of this rumor.

The US Manufacturing PMI released yesterday showed 47.2% matching the figure recorded in August, lower than the forecast of 47.6. Services PMI is 51.5% and Hospital PMI at 58.6%. Meanwhile, JOLT Job Openings data showed 8.04m higher than the forecast of 7.64m with the previous revision of 7.71M according to the Bureau of Labor Statistics.

Today, the Chinese Bank holiday commemorates National Day, which may affect the liquidity and volatility of gold considering that China is one of the largest gold importers besides Türkiye and India.

Traders will also anticipate the ADP Non-Farm Employment Change forecast at 124k higher than the previous revision of 99k. Significant differences between actual data and forecasts may influence the market.

XAUDUSD D1

The price is now moving below the upper band line. Bollinger bands draw an upward channel with wide band spacing indicating an uptrend in high volatility market.

MA 50 above the lower band drawing an upward channel above MA 200 indicates an uptrend market.

The TDI indicator's VB high shows a value of 78 and VB low shows a value of 54. The difference of 24 reflects the low volatility value in the daily timeframe.

The market base line points to a value of 64 with a slight upward channel, meaning the weight of bullishness is greater than bearish.

The RSI price line points at the value 69 crossing the TSL from the upside and drawing a flat channel indicating sideways.

Trade Signal line pointing at value 72 drawing a flat channel indicates a sideways market.

XAUUSD H4

Gold price in the H4 timeframe is now moving above the middle band line. Bollinger bands draw a flat channel with rather wide band spacing indicating sideways with moderate volatility.

MA 50 below the middle band line drawing an upward channel well above MA 200 indicates an uptrend market.

The TDI indicator's VB high points to a value of 81 and VB Low points to a value of 42. The difference of 39 reflects the high volatility value in the H4 timeframe.

The market base line shows a value of 61 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 57 drawing a flat channel indicating a sideways market.

The trade signal line points to the value 53 drawing an upward channel indicating an uptrend market.

 

[radex78]

CHFJPY surged amid Japanese monetary releases

The Japanese Yen weakened yesterday against several other currencies USD, EURO and CHF. The CHFJPY pair jumped up yesterday forming a bullish candlestick with a low of 169,229 and a high of 172,472 on the FXOpen platform.

Yesterday the BOJ's monetary base report showed data of -0.1% lower than the forecast of 0.8% with a revision of the previous data at 0.6%. This report shows Changes in the total amount of domestic currency in circulation and current account deposits held at the BOJ. Meanwhile, the BOJ interest rate is currently still at 0.25%.

Meanwhile, the SNB interest rate is now 1% and still hints at further rate cuts. The SNB has cut interest rates 25 bps from the previous 1.25% to 1.% due to the decline in Swiss inflation. The SNB now forecasts average inflation of 1.3% in 2024, 0.6% in 2025 and 0.7% in 2026.

It is thought that the SNB aims to weaken the Franc as Swiss exporting companies echo the negative impact that the expensive Swiss Franc is having on them. SNB communications suggest to markets that further rate cuts are still in the pipeline.

Today traders are focused on Swiss CPI data which is forecast to fall 0.1% from the previous 0.0%.

CHFJPY D1

CHFJPY price is now moving outside the upper band after yesterday's strong rally caused the price to break the upper band line. Bollinger bands begin to expand reflecting rising volatility.

The 50 MA appears to have crossed the 200 MA giving a death cross signal near the price and middle band line.

The VB high TDI indicator shows a value of 60 and VB low shows a value of 29. The difference of 31 reflects the value of moderate volatility in the daily timeframe.

Market Base Line points to a value of 44 with an upward channel, meaning the weight of bearish is greater than bullish.

The RSI price line shows a value of 62 which has crossed the MBL and TSL from the lower side, indicating an uptrend market.

The trade signal line pointing to the value 55 has crossed the MBL from the lower side indicating an uptrend market.

CHFJPY H4

CHFJPY's price in the H4 timeframe is now moving outside the upper band line, reflecting a strong rally. Expanding Bollinger bands reflect increased volatility.

The 50 MA has crossed the 200 MA from the downside giving a golden cross signal near the middle band line.

The TDI indicator's VB high shows a value of 74 and VB low shows a value of 36. The difference of 38 reflects the high volatility value in the H4 timeframe.

The market base line points to a value of 56 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 71 which has crossed the TSL and MBL from the lower side indicating an uptrend entering the overbought zone.

The trade signal line points to the value 62 crossing the MBL from the downside indicating an uptrend.

 

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GBPUSD extends losses on BoE governor's dovish comments.

Yesterday GBPUSD fell drawing a long bearish candlestick with a small shadow at the bottom of the candle. The price formed a high of 1.32700 and a low of 1.30914 on FXOpen. The pair fell over 1% and traded around 1.31250 on dovish comments by BoE Governor Andrew Bailey, who said that the central bank could become more active in rate cuts if inflation eases. Meanwhile, the Final Services PMI from global S&P sources showed that actual data was lower than forecast, also weighing on the Sterling.

On the other hand, the US ISM Services PMI economic data showed actual data of 54.9%, higher than the forecast of 51.7% and the previous data revision of 51.5%. Manufacturing PMI at 47.2% matching the figure recorded in August. Hospital PMI at 58.6% 5.3-percentage point increase from the July reading of 53.3 percent.

Meanwhile, Unemployment Claims showed actual data of 225k, higher than the forecast of 222k and the previous revision of 219k. This mixed economic data is still encouraging the USD to strengthen.

Today investors are waiting for Non-Farm Employment Change data which is predicted to increase by 147k from the previous revision of 142k. Furthermore, the Unemployment Rate is predicted to be 4.2%, the same as the previous revision.

GBPUSD D1

GBPUSD price is now moving between the middle and lower band lines. Yesterday the price crossed the middle band line from the upside reflecting a sharp decline. Expanding Bollinger bands indicate increased volatility.

MA 50 draws an ascending channel near the lower band above MA 200 indicating an uptrend market.

The VB high TDI indicator shows a value of 75 and the VB low shows a value of 48. The difference of 27 reflects the value of moderate volatility in the daily timeframe.

Market Base line points to a value of 62 with a descending channel, meaning the weight of bullish is greater than bearish.

The RSI price line shows a value of 43 across the TSL and MBL indicating a downtrend market.

The trade signal line pointing to the value 55 has crossed the MBL from the upper side indicating a downtrend market.

GBPUSD H4

GBPUSD in this time frame is now moving in the range of 1.31270 near the lower band line. There is one long bearish candlestick reflecting a sharp decline followed by a candlestick with a short body indicating a fading decline. Bollinger bands draw a descending channel with wide spacing indicating high market volatility.

The TDI indicator's VB high shows a value of 65 and VB low shows a value of 23. The difference of 43 reflects the high volatility value in the H4 timeframe.

The market base line points to a value of 44 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI price line points to a value of 24, drawing a descending channel below the TSL, indicating a downtrend market has entered the oversold zone.

The trade signal line shows a value of 26 with a downward channel indicating a market downtrend.

 

[radex78]

USDJPY extends gains despite dovish BOJ sentiment

In USDJPY trading last week, the price extended its increase after previously crossing the MA 50 from the downside. USDJPY crossed the MA 50 at 145,630 and is now in the range of 148,918 on FXOpen platform trying to approach the MA 200 at 151,000.

US Non-Farm Employment Change data released at the end of last week seems to be weighing on the JPY. NFP showed the actual value of 254k higher than the forecast of 147k from the previous data revision of 159k. Meanwhile, the Unemployment rate fell to 4.1% from the forecast of 4.2% and the previous data revision of 4.2%.

Meanwhile BOJ board member Asahi Noguchi said that the central bank "must patiently maintain loose monetary conditions." This indicates that the BOJ is likely to make gradual adjustments to the level of monetary support while carefully assessing whether inflation sustainably reaches its 2% target, supported by wage growth. The BOJ also indicated there are no immediate plans for additional interest rate hikes but remains open to adjustments if economic conditions show improvement.

Today there is no high impact economic schedule for USDJPY, there is only a leading indicator that measures the level of the composite index based on 11 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads.

USDJPY D1

USDJPY price is now moving above the upper band line. Expanding Bollinger bands reflect high volatility with wide deviations.

MA 50 below the price draws a descending channel, MA 50 has crossed MA 200 with a death cross signal. However, seeing the price now rising above the line indicates a reversal pattern.

The TDI indicator's VB high shows a value of 58 and VB low shows a value of 25. The difference of 33 reflects moderate volatility in the daily timeframe.

Market Base Line points to a value of 42 with a flat channel, meaning the weight of bearish is greater than bullish.

The RSI price line points to a value of 66 crossing the TS from the lower side indicating an uptrend near the overbought level zone.

The trade signal line points to a value of 55 with an upward channel indicating an uptrend market.

USDJPY H4

USDJPY price in the H4 timeframe is now moving below the upper band line. Bollinger bands draw an ascending channel with wide band spacing indicating an uptrend with high volatility.

MA 50 is far below the price crossing MA 200 from the downside, there is a golden cross signal on the H4 timeframe.

The VB high TDI indicator shows a value of 79 and VB low shows a value of 36. The difference of 43 reflects the high volatility value in the H4 timeframe.

The market base line points to a value of 58 with an upward channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 73 with a slight downward channel, indicating the price is trying to get out of the overbought level zone.

The trade signal line points to a value of 69 with a flat channel indicating a sideways market.

 

[radex78]

AUDUSD extends losses amid reduced Fed rate cut speculation

Yesterday the AUDUSD price drew a bearish candle with a long body crossing the middle band line from the upside. Price formed a high of 0.68099 and a low of 0.67428, closing at 0.67568.

AUDUSD's losing streak was further strengthened following the announcement of the US jobs report which showed a sharp increase in payrolls and stronger-than-expected wage growth. This data has reduced expectations of the Fed, cutting interest rates from the previous 50 bps to only 25 bps.

According to the Fedwatch forecast tool, the Fed cut interest rates 25 bps to 86.3% and the interest rate forecast was unchanged at 13.7%.

To further anticipate the Fed's steps in November, investors will pay attention to the US Consumer Price Index (CPI) data for September, which will be released on Thursday.

The Australian dollar was also under pressure due to risk-averse market sentiment as tensions in the Middle East escalated. Geopolitical risks tend to reduce the attractiveness of risk-sensitive assets.

Next AUD will be driven by the RBA meeting minutes. The RBA kept the Official Cash Rate (OCR) unchanged at 4.35% and gave no timetable for starting the rate cut cycle. Investors will pay attention to the Monetary Policy Meeting Minutes which may provide hawkish or dovish expectations for the RBA's interest rate policy.

ADUUSD D1

The AUDUSD price on the daily timeframe is now below the middle band line. Bollinger bands are drawing a slight upward channel with slightly deflated bands indicating a downward change in volatility.

The 50 MA below the price above the 200 MA draws a slight upward channel indicating an uptrend market and could be dynamic support at 0.67198, while the 200 MA is support at roughly 0.88254.

The TDI indicator's VB high shows a value of 71 and the VB low shows a 44. The difference of 27 reflects the value of moderate volatility in the daily timeframe.

Market Base Line points to a value of 58 with a slight downward channel, meaning the weight of bullishness is greater than bearish.

The RSI price line shows a value of 44 across the TSL and MBL from the upper side indicating a downtrend market.

The trade signal line pointing to a value of 54 crossing the MBL from the upper side indicates a downtrend market.

AUDUSD H4

AUDUSD price in the H4 timeframe is now moving near the lower band line. Bollinger bands draw a descending channel with wide band spacing indicating a downtrend in a high-volatility market.

MA 50 above the middle band line draws a descending channel indicating a trend transition, MA 200 below the middle band line near the lower band line draws a flat channel indicating a sideways market.

The TDI indicator's VB high shows a value of 60 and VB low shows a value of 22. The difference of 38 reflects the high volatility value in the H4 timeframe.

The market base line points to a value of 41 with a descending channel, meaning the weight of bearish is greater than bullish.

The RSI price line shows a value of 23 back and forth crossing the TSL with a downward channel indicating more downtrend at oversold levels.

The trade signal line points to a value of 28 with a downward channel indicating a market downtrend.