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March 30th news: According to a notice issued by Myanmars Meteorological and Hydrological Department on the 30th local time, after a strong earthquake occurred in the central part of the country on the 28th, a total of 33 aftershocks were reported as of the evening of the 30th, with the highest magnitude being 7.5 and the lowest being 2.8.On March 30, the Russian Ministry of Defense announced that the Russian army had taken control of the Zaporizhia settlement in the Donetsk region. The Russian Ministry of Defense issued a statement on the same day saying: "Through successful military operations, the Russian army has taken control of the Zaporizhia settlement." TASS quoted the Russian military as saying that after taking control of the Zaporizhia settlement, the Russian armys stronghold on this section of the front was expanded. This will bring more tactical advantages to the Russian army.Finnish President: We have told US President Trump that we need a date for a ceasefire in Ukraine in order for this goal to be achieved.On March 30, Israeli Prime Minister Netanyahu said at a government meeting that Israel is ready for the next phase of negotiations on the Gaza ceasefire agreement, but the Palestinian Islamic Resistance Movement (Hamas) must lay down its arms. Netanyahu said that Hamas claimed that Israel was not ready to enter the second phase of negotiations on the ceasefire agreement, but this was not true. Israel is ready for negotiations. In order to achieve negotiations, Hamas must lay down its arms before Israel can allow its leaders to leave the Gaza Strip. Israel will be responsible for the overall security of the Gaza Strip and facilitate the implementation of the "voluntary migration" plan proposed by US President Trump.The U.S. tsunami system issued a warning that the Tonga earthquake may trigger a tsunami threat.

Price Analysis: AUD/USD Advances Toward 0.6740 Ahead Of PBoC's Decision

Alina Haynes

Apr 19, 2023 16:00

AUD:USD.png 

 

The AUD/USD pair strengthened to near 0.6740 after a gradual retracement. In light of the weakening U.S. dollar and the upward revision of China's growth rate forecast, the demand for Australian dollars was exceptional. The US Dollar Index (DXY) is exhibiting a dearth of volatility prior to the release of the Federal Reserve's (Fed) Beige Book.

 

The Australian Dollar remained active on Tuesday after the Reserve Bank of Australia (RBA) minutes were released. The RBA minutes revealed that policymakers actively debated a rate hike, but ultimately decided to maintain the current 3.6% rate. Philip Lowe, the governor of the Reserve Bank of Australia, stated that the central bank needs more time to compile information prior to taking action.

 

After a robust quarterly performance, forecasting agencies were enthusiastic about increasing their projections for China's Gross Domestic Product (GDP). In the future, the People's Bank of China's (PBOC) interest rate determination will be the primary event. Australia is China's greatest trading partner, and optimistic economic forecasts from China would benefit the Australian Dollar.

 

The AUD/USD exchange rate is exhibiting an Inverted Flag pattern on an hourly time frame. The Inverted Flag is a trend-following pattern that consists of a protracted consolidation followed by a decline. Participants prefer to enter an auction after a bearish bias has been established, and current vendors increase their position size during the consolidation phase of a chart pattern.

 

The 20-period Exponential Moving Average (EMA) is superimposed on the price of the asset at 0.6720, indicating lackluster performance.

 

Currently, the Relative Strength Index (RSI) (14) fluctuates between 40.00 and 60.00, indicating the absence of a possible trigger.

 

A future break above the March 22 high of 0.6759 will propel the asset toward the April 3 high of 0.6693. A breach above the latter would cause the asset to reach a new low on February 6 of 0.6855.

 

A breach of the April 10 low at 0.6620 would expose the Australian dollar to the March 10 low at 0.6564, followed by the round-number support at 0.6500, according to an alternative scenario.


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