This morning, the Australian Dollar was trading at its lowest level since November 2 when it opened lower. Higher crude oil and gold prices strengthened the Australian dollar. Demand for natural gas and coal rose sharply during Ukraine’s civil war, which had a beneficial impact on the currency. In addition, traders point out that a possible recovery in China’s economy is advantageous for the Australian Dollar.
The price line has a pivot point below it at 0.74750, with support at 0.74620 and resistance at 0.74820. The EMAs of 200, 100 are moving upward, and the EMA of 10 crossed the EMA of 100 with an upward signal. The MACD starts its negative zone, with the signs indicating a down trend. The Stochastic and RSI indicators are moving toward low ranges and the ADX is not indicating a clear trend.
The price is above the Ichimoku Cloud and the Chinkou Span is far away the market price. The Tenkan-sen and the Kijun-sen are moving with uptrend.

• There is resistance at 0.74820, followed by resistance at 0.74950 and 00.75020.
• There is support at 0.74620 Below, there is 0.74550 and 0.74420.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.