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AUDUSD

AUDUSD rebound appears overdue on RBA rate hike dayAUDUSD holds onto its bounce off a downward sloping support line from late January, as well as the 61.8% Fibonacci Expansion (FE) of April-June moves as traders await the Reserve Bank of Australia’s (RBA) third rate hike. Nearly oversold RSI also hints at the quote’s further recovery, in addition to the hawkish hopes from the Aussie central bank. The upside momentum, however, remains elusive unless crossing the late January swing low surrounding 0.6965-70. Also likely to challenge the pair buyers is the 50-day EMA level of 0.7050 and the 200-day EMA close to 0.7210. In a case where the quote rallied beyond 0.7210, the odds of its run-up beyond June’s top of 0.7282 can’t be ruled out. On the contrary, the 61.8% FE level, near 0.6770, precedes the aforementioned support line from January, around 0.6750, to limit the short-term downside of the AUDUSD pair. Should the pair stays on the back foot below 0.6750, the March 2020 high near 0.6680 will act as the last defense for the pair buyers, a break of which won’t hesitate to drag the prices towards the April 2020 peak of 0.6569. Overall, AUDUSD is likely to witness a corrective pullback and the RBA’s rate hike could serve the purpose. However, the Fed Minutes and US NFP may keep sellers hopeful and hence the pair buyers need to remain cautious.
by MTradingGlobal
AUDUSD keeps door open for bears targeting 0.6800Despite the recent rebound, AUDUSD holds onto the downside break of fortnight-old support amid an absence of oversold RSI, which in turn hints at the pair’s likely to rush towards refreshing yearly low. However, the latest bottoms surrounding 0.6850 and 0.6830 may act as intermediate halts during the fall. That said, the 61.8% Fibonacci Expansion (FE) of June 03-16, at 0.6800, will be in the spotlight. In a case where the quote remains bearish past 0.6800, the late 2018 lows near 0.6745 could become a buffer before directing the bears towards the 2019 trough close to 0.6670. Meanwhile, the corrective pullback may poke the support-turned-resistance line from mid-June, at 0.6900 by the press time, a break of which could escalate the recovery towards the weekly resistance line close to 0.6955. It should be noted, however, that the 100-SMA and the 200-SMA, respectively near 0.6990 and 0.7035, could challenge the AUDUSD bulls afterward. Should the prices rally beyond 0.7035, the June 16 peak of 0.7069 might act as the last defense for bears. To sum up, AUDUSD has already flashed a bearish signal to refresh yearly lows, mainly due to its risk-barometer status.
by MTradingGlobal
AUDUSD funnels down to a weekly triangle breakout AUDUSD gyrates inside the one-week-old symmetrical triangle after the RBA Minutes and Governor Philip Lowe’s speech. Given the RBA’s hawkish bias and recently firmer RSI, the Aussie pair is likely to cross the stated triangle to the upside, which in turn highlights 0.7015 as immediate resistance. However, the 200-SMA level surrounding 0.7065, as well as the early June swing low near 0.7140, will act as important hurdles afterward. Should the quote manage to stay firmer past 0.7140, an upside towards the 0.7200 threshold and then to the 0.7230 resistance level can’t be ruled out. Meanwhile, AUDUSD bears await a clear downside break of the aforementioned triangle’s lower line, around 0.6920 by the press time. Following that, the monthly low near 0.6850 and May’s bottom of 0.6828 could gain the seller’s attention. In a case where the quote drops below 0.6828, the downside momentum may aim for late 2019 lows close to 0.6680-75. Overall, the AUDUSD eyes to consolidate the previous two-week downtrend but a clear break of the 0.7015 support is necessary for the pair’s advances.
by MTradingGlobal
AUDUSD teases bears ahead of RBA’s rate hikeAfter failing to cross the 200-day EMA, AUDUSD broke a three-week-old support line and the 50-day EMA as traders await the Reserve Bank of Australia’s (RBA) second rate hike of 2022. Given the steady RSI and recently bullish MACD signals, the quote is likely to rebound towards the 200-day EMA hurdle surrounding 0.7270. However, a clear run-up beyond the previous support line, near 0.7240 by the press time, becomes necessary to recall the pair buyers. The follow-on advances past 0.7270 could aim for a 61.8% Fibonacci retracement of April-May, around 0.7345. Should the pair manage to stay firmer past 0.7345, the odds of witnessing a rally towards late April swing high near 0.7460 can’t be ruled out. Alternatively, a clear downside break of the 50-day EMA level surrounding 0.7170 won’t hesitate to break the 0.7100 threshold while seeking a retest of the 23.6% Fibonacci retracement level of 0.7025. Following that, 0.6945 could act as the last defense for buyers before directing the sellers towards the yearly low near 0.6830. Overall, AUDUSD bulls appear to run out of steam as traders await the RBA’s rate increase. Given the widely priced-in move, bears could search for any hints of no more rate lifts to retake control.
by MTradingGlobal
AUDUSD bulls run out of steam after Aussie GDPAUDUSD struggles to remain beyond a three-week-old support line, having reversed from a multi-day high the previous day, even as Australia’s Q1 2022 GDP rises past the market’s downbeat forecasts with 0.8% QoQ figures. That said, the Aussie pair bears need validation from the immediate support line, near 0.7145, to challenge the 23.6% Fibonacci retracement (Fibo.) of April-May fall, around 0.7025. The quote’s downside past 0.7025, however, could struggle as the broad 0.6965-50 support area appears a tough nut to crack for the pair sellers, a break of which won’t hesitate to refresh the yearly low, marked in May around 0.6830. Meanwhile, recovery moves need validation from the 100-DMA level surrounding 0.7230, as well as May’s peak near 0.7265. Following that, a run-up towards 61.8% Fibo level close to 0.7345 becomes imminent. However, tops marked in March and late April, respectively around 0.7440 and 0.7455, will challenge the AUDUSD bulls before directing them to April’s high, also the yearly peak, near 0.7660. Overall, AUDUSD recently flashed the much-awaited pullback signals and hence further downside is brewing. However, the US NFP is left to propel prices, which in turn requires the trader’s discretion.
Short
by MTradingGlobal
AUDUSD UPTREND BUY WITH PROPER SLAU is creating HH formation so next key area is around 0.72500. if we break the previous high there is probability that we gonna test 0.72500 as its clear uptrend.i habe also mentioned the stop loss which is below 2 nd HL which is safe and its not gonna hit if we continues the uptrend once if in 30-40 pips profit trail sl to hl accordingly. Make sure you do your own analysis before taking trade. Happy weekend guys...be safe..🙋🏻‍♂️
Long
by yatinp32
AUDUSD rebound appears interesting if it stays beyond 0.6960AUDUSD managed to rebound from a two-year low on Friday, snapping a six-day downtrend and portraying a falling wedge bullish chart pattern. However, downbeat data from China and fresh fears of covid resurgence push the risk-barometer pair to reverse the previous day’s recovery moves during early Monday. Even so, the RSI’s bullish divergence, confirmation of the falling wedge seems more likely, which in turn could gain recovery strength on staying beyond the 0.6960 hurdle. Following that, a run-up towards the downward sloping trend line from early April, surrounding 0.7150 can’t be ruled out. However, the 0.7000 and the 0.7100 thresholds may offer intermediate halts during the anticipated rally. If at all the pair buyers keep reins past 0.7150, the 200-SMA level near 0.7280 will act as the last defense for the bears. Meanwhile, fresh declines can initially target the latest multi-month low around 0.6830 ahead of challenging the 0.6800 round figure, also comprising the lower line of the aforementioned wedge. It’s worth noting that the AUDUSD pair’s sustained downtrend past 0.6800 will aim for an early 2020 peak close to 0.6685 before targeting the sub-0.6600 area. Overall, AUDUSD bears are running out of steam and a corrective pullback is more likely.
by MTradingGlobal
AUDUSD pierces 0.7100 on RBA’s rate hikeAUDUSD bulls cheer the Reserve Bank of Australia’s (RBA) 25 basis points (bps) rate hike in early Tuesday. The recovery moves also justify the RSI rebound from oversold territory, as well as pierce a downward sloping resistance line from April 21, near 0.7100 by the press time. Considering the RBA’s hawkish moves, backed by firmer technicals, the Aussie pair is likely rising towards the mid-March swing low surrounding 0.7165. However, the 200-SMA and previous support line from March, around 0.7285 and 0.7410 in that order, will challenge the bulls afterward. Meanwhile, the pair’s fresh downside may aim for the 0.7040 level before directing the bears towards the 0.7000 psychological magnet. Following that, the yearly bottom surrounding 0.6965 will be in focus as a break of which will direct the AUDUSD bears toward the mid-2020 lows near 0.6775. Overall, AUDUSD is cheering the well-due recovery as the RBA announced rate-hike. However, the upside momentum needs validation from the Fed before reversing the broadly bearish trend.
by MTradingGlobal