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AUDUSD

AUDUSD drops back below 20-DMA on RBA dayAlthough the Reserve Bank of Australia (RBA) matched wide forecasts of inaction on early Tuesday, the Aussie central bank’s concerns over economic growth, due to the pandemic-led local lockdowns, weigh on the AUD/USD prices. Also challenging the quote buyers are the headlines from China and concerning the US stimulus, as well as debt ceiling extension. That said, the pullback from 20-DMA offers a selling opportunity with the 0.7220 acting as an immediate target ahead of six-week-old horizontal support near 0.7165-55. However, any further downside will be challenged by RSI conditions, which if ignored could refresh the yearly bottom that currency stands near the 0.7100 mark. Meanwhile, an upside clearance of 20-DMA level of 0.7281 isn’t a green pass for the bull’s entry as a horizontal line from late July adds to the upside filters around 0.7320. It should be noted, however, that a clear run-up beyond 0.7320 enables the buyers to aim for a 61.8% Fibonacci retracement level near 0.7410 before highlighting the September month’s peak around 0.7480. Overall, AUD/USD remains in the bearish trajectory unless crossing the 0.7480 hurdle.
Short
by MTradingGlobal
AUDUSDAs I said last weeks ...as I said AU is in a very strong area where it has been in range for a few weeks ... but as long as it is on the trend line , I will keep the SELL idea until the 0.74990 area and from there ... I will reanalyze! THIS WEEK...as I was saying since April 2021 ... AUDUSD went down and made the 800 pips we were talking about, reaching the 2nd target where it rejected strongly! (see red line) in the next period I expect to see a range between zone 1 and zone 2 and only a closure even for 1 day below these zones will make me rethink the whole strategy! now I will wait to touch one of these areas and then I will decide an entry with BUY or SELL NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: Our analyzes have an accuracy of over 92% in the last 5 months We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market. *This information is not a Financial Advice.
by BloomFX_SIGNALS
AUDUSD jumps back towards 200-SMA amid firmer sentimentAUDUSD reverses Friday’s pullback from the key moving average while picking up bids to 0.7286 during early Monday. In doing so, the Aussie bulls brace for another battle with the 200-SMA level of 0.7305. However, any further upside needs to cross the previous week’s top surrounding 0.7315 to extend the run-up towards the mid-month peak surrounding 0.7345-50. In a case where market optimism helps the risk barometer pair to remain firmer past 0.7350, the 0.7410 and the monthly high close to 0.7480 will be in focus. Meanwhile, pullback moves may first retest 61.8% Fibonacci retracement (Fibo.) of the late August to early September upside, near 0.7245. Following that, the monthly horizontal support area, near 0.7220, and 78.2% Fibo. level near 0.7185 should probe AUDUSD bears ahead of directing them towards August month’s low, also the yearly bottom, close to 0.7105. Overall, AUDUSD consolidates pullback from early month highs but key supports provide intermediate bounces.
Long
by MTradingGlobal
Technical Analysis: Bearish marubozu keeps AUDUSD seller hopefulDespite recently bouncing off a monthly low, AUDUSD remains pressured around 20-DMA during early Wednesday. The risk-barometer pair dropped the most in a week while flashing a bearish candlestick on the daily chart. The anticipated declines also gain support from the absence of the oversold RSI conditions. However, July’s low of 0.7288 acts as a trigger for the fresh fall. Following that, 23.6% Fibonacci retracement level near 0.7225 and 0.7155 could offer intermediate halts during the south-run targeting the yearly low near 0.7105. Alternatively, 50% and 61.8% Fibonacci retracements of the pair’s late June to August 20 downside, respectively near 0.7360 and 0.7420, can guard the quote’s rebound. Also challenging AUDUSD bulls is the monthly high near 0.7480. Should the Aussie pair rises past 0.7420, odds of its rally towards the July month’s peak near the 0.7600 level can’t be ruled out.
Short
by MTradingGlobal
AUDUSD bears attack 0.7400 key support despite RBA taperingEarly Tuesday, the Reserve Bank of Australia (RBA) surprises markets by announcing details of weekly bond purchase tapering. The traders were earlier hoping for a delay in the tapering plans and hence the AUDUSD jumped around 30 pips just after the RBA news. However, downbeat comments concerning the Aussie GDP and cautious economic view recall the pair sellers, directing them towards 61.8% Fibonacci retracement of July–August downside, near 0.7410. Also acting the crucial support is an upward sloping trend line from August 20, near the 0.7400 round figure. Given the RSI pullback from overbought territory, AUDUSD may witness further declines and hence the stated support line gains major attention. Alternatively, a descending resistance line from July 13, near 0.7480, guards the quote’s short-term upside. In a case where the AUDUSD bulls look to retake controls beyond 0.7480, they need validation from the 0.7500 threshold, a break of which will propel the run-up towards July month’s high near 0.7600. Overall, RBA’s cautious optimism needs back-up from the weaker US dollar and improvement in the covid conditions to keep the AUDUSD buyers hopeful.
by MTradingGlobal
AUDUSD bulls need to tackle 0.7320-25 hurdle to keep the reinsAUDUSD bulls battle the key resistance, namely 200-SMA, during early Wednesday. Given the Aussie pair’s sustained rebound from the previous resistance line, not to forget successful trading above an eight-day-long rising support line, the buyers remain hopeful by the press time. However, overbought RSI conditions challenge the buyers, requiring a clear break of 0.7325 to keep the reins. Following that, 61.8% Fibonacci retracement of July–August downside near 0.7410 and the previous monthly top near 0.7425 should return to the charts. Meanwhile, the aforementioned short-term support line near 0.7295 restricts the quote’s immediate pullback, if any, ahead of the resistance-turned-support of 0.7270. If at all, AUDUSD drops below 0.7270, the 0.7230 level may offer an intermediate halt during the likely fall towards the last month’s low surrounding 0.7125. Overall, AUDUSD is in the recovery mode after a two-month bearish performance.
Long
by MTradingGlobal
AUDUSD bulls have a long way to recapture controlsAUDUSD recovery from 0.7100 takes clues from the upbeat RSI line to extend the heaviest daily rise in four months, suggesting further advances towards the monthly horizontal resistance near 0.7270-85. However, bearish MACD challenges the pair’s further upside past 0.7285. Even if the quote manages to cross the 0.7285 hurdle, a downward sloping trend line from early July and a convergence of 50% Fibonacci retracement of June–August downside and 200-SMA around 0.7350–60 will be tough nuts to crack for the bulls. If at all the Aussie pair rises past 0.7360, 61.8% Fibonacci retracement near 0.7420 will be in focus. On the downside, the 0.7200 round figure and 0.7150 may entertain AUDUSD sellers ahead of directing them to the nine-month-low, flashed last week, surrounding 0.7100. Should the pair bears hold the reins past 0.7100, June 2020 high near 0.7060 and the 0.7000 psychological magnet will be crucial levels to follow. Overall, AUDUSD remains on the bearish trajectory unless crossing 0.7360.
Short
by MTradingGlobal