Today, on June 3rd, the Aussie gained some value against its American counterpart after the Reserve Bank of Australia held a meeting. Australia is going to publish a report on economic activity in Q1 2014 tomorrow, on June 4th. Economists assume that the economic activity increased by 3,2% during the reporting period against 2,8% seen a quarter before.
The second quarter is expected to see a slowdown by 0,4% as opposed to the previous quarter. At the same time, the RBA keeps on easing its monetary policy as a response to the consequences of new national budget adopted by the Australian authorities coupled with weaker price growth in the local housing and commodity markets as well as weaker investment inflow in the Australian mining sector.
Commodity prices have dropped, the global economy is slowing down in 2104, inflation is doing the same. As for the Australian economy, it saw strong growth for 20 years while there was a investment bom in the local mining industry. However, the economic growth slowed down after the investment boom ended coupled with an economic slowdown in China, the biggest importer of Australian commodities.
At the same time, the Australian government, which is a rather conservative one, adopted the tightest budget in 20 years in May. Apparently, the austerity undermined businessmen and investors' trust in the Australian economy. At the same time, the housing prices seem to be dropping, which is the first wakeup call indicating possible drop in consumer spending in the near future.
AUDUSD
According to the comprehensive analysis made by Masterforex-V Academy, the Daily chart of AUDUSD is showing a bullish reaction going on against the prevailing bearish tendency started on October 10th 2013. The price is currently heading fro the local high set at 0,9460.
At the same time, the ascending and descending MF sloping channel formed a classic pattern called «descending triangle». The bears are aggressive and pressing the price down while the bulls are trying to hold the demand around local lows.
At this point, the experts assume that the bullish reaction may end in the near future to give the bears another chance to drop AUDUSD down and let the US Dollar regain some value against the Aussie. However, the bearish scenario will manifest itself only after breaking below the bottom sloping channel, putting itself below the triangle.
Alternatively, the price will see further highs if it manages to break and consolidate above the top of the descending triangle.
In order ot define and specify the targets, lets switch to H4. The downward targets are 0,9167 and 0,9136. The upward targets are 0,9327 and 0,9372. The downward and upward scenarios are represented by the green and blue arrows respectively, Masterforex-V Academy reports.
Кафедра бинарных опционов Академии Masterforex-V рекомендует открывать сделки по бинарным опционам на бай (делать ставку на повышение) от границы восходящего наклонного канала при наличии условий для входа. Бинарные опционы позволяют получить более 70% прибыли от вложенного капитала при правильном определении движения валютной пары австралиец/доллар на 4-часовом графике на Форекс. Время экспирации опциона – не более 2-3 часов.
