# AUDUSD Ascending Channel (Feb 01, 2018) Source: https://www.tradersway.com/resources/market-info/audusd-ascending-channel-feb-01-2018/ Language: en Updated: 2018-02-01 Description: Explore AUDUSD Ascending Channel (Feb 01, 2018). AUDUSD continues. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. AUDUSD continues to trend higher inside its ascending channel pattern on the 4-hour time frame. Price is currently testing the channel support and might be due for a bounce to the top. The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This means that the rally is more likely to resume than to reverse. Still, a break below the channel support could find a floor at the 100 SMA dynamic inflection point. Stochastic is still on the move down to indicate that selling pressure is present. The oscillator is near oversold conditions, though, so sellers might want to take a break soon and allow buyers to take over. In that case, the pair could recover to the top of the channel near .8200. Australia’s quarterly CPI readings turned out slightly weaker than expected as the headline figure came in at 0.6% versus 0.7% while the trimmed mean CPI was at 0.4% versus 0.5%. Private sector credit also fell short of estimates at 0.3% versus 0.5%. Meanwhile, data from China was mixed as the official manufacturing PMI fell from 51.6 to 51.3 while the non-manufacturing component improved from 55.0 to 55.3. The Caixin version of the manufacturing PMI held steady at 51.5 as expected. Earlier today, data from Australia also turned out mixed. The AIG manufacturing index printed a gain from 56.2 to 58.7 while import prices popped up by 2.0% to reflect stronger inflationary pressure. Building approvals, however, slipped 20%. ![AUDUSD Ascending Channel (Feb 01, 2018)] The FOMC statement led to a bit of a boost for the dollar on stronger inflation expectations and the addition of the word “further” in projecting more tightening moves. The next event risk for the dollar could be the NFP release on Friday and the ADP report hinted at a potential upside surprise. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/audusd-ascending-channel-feb-01-2018/#primary", "url": "https://www.tradersway.com/resources/market-info/audusd-ascending-channel-feb-01-2018/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/audusd-ascending-channel-feb-01-2018/", "headline": "AUDUSD Ascending Channel (Feb 01, 2018)", "inLanguage": "en", "datePublished": "2018-02-01T06:39:27+00:00", "dateModified": "2018-02-01T06:39:27+00:00", "articleSection": "Market Info", "description": "Explore AUDUSD Ascending Channel (Feb 01, 2018). AUDUSD continues. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/audusd-ascending-channel-feb-01-2018/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "AUDUSD Ascending Channel (Feb 01, 2018)", "item": "https://www.tradersway.com/resources/market-info/audusd-ascending-channel-feb-01-2018/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```