19 Jun, 2024
5 minutes
Daily Technical Analysis Jun 19th 2024
1. AUD/USD Analysis:
News Summary:
The Reserve Bank of Australia kept the cash rate unchanged at 4.35% for the fifth consecutive meeting and reiterated that it would not rule out any possibility, indicating that a rate increase is not impossible. The Australia dollar rebounded after the decision, with policy-sensitive three-year Treasury yields little changed, while stocks remained higher. Australia's cautious stance keeps it hawkish against the backdrop of a divided global policy outlook. Since the last RBA meeting, data has shown the Australian economy remains weak.
Trend Analysis:
We can see AUD/USD continues to rise and gradually moves away from the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column expand near the zero axis. The sell limit could be placed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [0.6570]
Key Resistance Levels: [0.6740]
Pivot Points [0.6700]
2. Gold Analysis:
News Summary:
US retail sales in May recorded a monthly rate of 0.1%, slightly lower than market expectations of 0.3%. This data reflects the cautious consumption behavior of consumers in the context of rising inflation and interest rates. In addition, central banks remain net buyers and continue to increase their holdings of gold, with purchases spanning a wide range of markets, despite the rise in gold prices in recent months.
Trend Analysis:
We can see gold H4 level still maintains oscillation and runs near the 48 hours moving average. On the other hand, the MACD double line and energy column form top divergence and shrinkage near the zero axis. The sell limit could be arranged, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [2300]
Key Resistance Levels: [2350]
Pivot Points [2337]