Introduction: Welcome to our daily technical analysis of the financial markets, focusing today on AUD/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. AUD/USD Analysis:
News Summary:
The Australian dollar continued its upward trend last week and further rose above the 0.63 mark. This round of gains was mainly driven by improved risk sentiment; at the same time, the strengthening of commodity prices provided additional support for the Australian dollar. Risk sentiment has gradually improved, global trade tensions have temporarily eased, and the rebound momentum is strong. If the market's expectations for the Fed's rate cut increase, this will further benefit the Australian dollar.
Trend Analysis:
We can see AUD/USD is oscillating and still moving above the 48 hours moving average on H4 chart. In addition, the MACD double line and histogram bar are shrinking above the zero axis. The sell limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [0.6270]
Key Resistance Levels: [0.6420]
Pivot Points [0.6380]
2. Crude Oil Analysis:
News Summary:
The intraday volatility of crude oil was mainly driven by the expectation of adjustment of US tariff policy and the recovery of China's crude oil imports, but the market still has doubts about the continuity of the policy. The Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) lowered their forecast for oil demand growth to 730,000 barrels per day, putting pressure on global crude oil market sentiment. China's crude oil imports increased by 5% year-on-year, boosting regional demand, but failed to improve the overall oil market outlook.
Trend Analysis:
We can crude oil H4 level is still fluctuating and running near the 48 hours moving average. On the other hand, the MACD double line and energy bar continue to shrink near the zero axis. The sell limit could be used, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [57.50]
Key Resistance Levels: [63.00]
Pivot Points [62.00]
