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AUDUSD

AUDUSD sellers attack 200-SMA to revisit 0.6525 key supportAUDUSD appears well-set for biggest weekly loss in seven while extending the previous week’s U-turn from a 3.5-month-old horizontal resistance area surrounding 0.6675-80. The Aussie pair currently pokes the 200-SMA support near 0.6565 amid an impending bear cross on the MACD and a retreat in the RSI (14) line, which in turn suggests slower grind toward the south. Hence, the quote is likely to break the adjacent SMA support of 0.6565 and aim for an upward-sloping support line from mid-February, close to 0.6525 at the latest. In a case where the bears keep the reins past 0.6525, the monthly bottom of 0.6477 and the yearly trough surrounding 0.6442 will be in the spotlight. Meanwhile, AUDUSD rebound needs validation from late February swing high of 0.6595, as well as the 0.6600 round figure. Following that, multiple swing highs marked so far during 2024 near 0.6625-30 could test the buyers. It’s worth noting, however, that the Aussie pair’s further advances remain elusive unless the quote offer a daily closing beyond the aforementioned multi-month-old horizontal resistance zone near 0.6675-80. Should the bulls manage to keep the reins past 0.6680, the 0.6700 and 0.6750 might entertain them before highlighting the late 2023 swing high of 0.6871. Overall, the AUDUSD pair is likely to decline further and can challenge the key support line as traders await a few more US consumer-centric data ahead of the next week’s FOMC monetary policy meeting.
by MTradingGlobal
AUDUSD LongFOREXCOM:AUDUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
1
AUDUSD Technical AnalysisThe Fed left interest rates unchanged as expected at the last meeting while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut. The US CPI beat expectations for the second consecutive month with the disinflationary trend reversing. The US PPI beat expectations across the board by a big margin. The US Jobless Claims beat expectations with the data remaining steady. The latest US PMIs increased further from the prior month with the Manufacturing PMI beating expectations and the Services PMI missing. The US Retail Sales missed expectations across the board by a big margin. The market now expects the first rate cut in June. AUD The RBA left interest rates unchanged as expected with the central bank maintaining the usual tightening bias and data-dependent language. The recent Monthly CPI report missed expectations across the board which was a welcome development for the RBA. The latest labor market report missed expectations by a big margin. The wage price index surprised to the upside as wage growth in Australia remains strong. The latest Australian PMIs showed the Manufacturing PMI falling back into contraction while the Services PMI jumped back into expansion. The market expects the first rate cut in August. AUDUSD Technical Analysis 1-Day Timeframe On the daily chart, we can see that AUDUSD broke above the key resistance level where we had also the red 21 moving average for confluence and extended the rally to new highs. The buyers are targeting the next resistance at 0.6623 but the momentum seems to be waning a bit. The sellers, on the other hand, will likely wait for the price to reach the 0.6620 level before piling in for new shorts or looking for some key breakouts on the lower timeframes. AUDUSD Technical Analysis 4-hour Timeframe On the 4-hour chart, we can see that the price has been diverging with the MACD recently. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, we got pullbacks into the red 21 moving average where the buyers kept on stepping in to target the 0.6620 level. The moving average and the black trendline will now be key levels for the sellers as they will need to break through them to gain more conviction for a bearish trend and target new lows. AUDUSD Technical Analysis 1-hour Timeframe Timeframe On the 1-hour chart, we can see that we have a resistance zone around the 0.6580 level which the buyers will need to break to increase the bullish bets into the 0.6620 level. There is no important data till next Tuesday, so the market will likely be driven by the technicals until then. follow us for more trading ideas.
Long
by forexinworld
AUDUSD probes month-long bearish channel on China’s returnMarket sentiment improved early Monday as China returned to trading after a week-long Lunar New Year holiday. With this, AUDUSD justifies its role as a risk barometer and cheers optimism at the biggest customer, namely China, by challenging a one-month-old bearish trend. However, the road towards the north appears long and bumpy before convincing the Aussie bulls. That said, the stated falling channel’s top line, close to 0.6555, guards the immediate run-up of the pair ahead of the 200-bar Exponential Moving Average (EMA). Following that, a horizontal area comprising multiple levels marked since early January, between 0.6620 and 0.6640, appears a tough nut to crack for the bulls before taking control. On the contrary, the AUDUSD pairs’ retreat will aim for the 0.6500 round figure before convincing the bears to target the monthly low of near 0.6440. It’s worth noting, however, that the bottom line of a one-month-long descending trend channel, close to 0.6430 at the latest, will restrict further downside of the pair. In a case where the quote remains weak past 0.6430, a slew of support levels around 0.6400, 0.6340 and 0.6320 will try pushing back the bearish moves. However, the pair’s downside past 0.6320 will make it vulnerable to slump toward the previous yearly low surrounding 0.627. Overall, AUDUSD is likely to extend the latest rebound as upbeat sentiment joins firmer MACD and RSI signals. However, the room towards the north appears limited and the upside is also dependent on the RBA and FOMC Minutes.
by MTradingGlobal
AUDUSD bears can ignore post-RBA rebound from 11-week lowAUDUSD prints the first daily gain in three while bouncing off the lowest level since mid-November after the Reserve Bank of Australia (RBA) kept the benchmark rates unchanged. The corrective bounce also justified the RSI (14) line’s rebound from the oversold territory. However, the bearish MACD signals and the previous week’s confirmation of the Head-and-Shoulders (H&S) bearish chart pattern keeps the Aussie pair sellers unless the quote jumps back beyond a convergence of the neckline and the 100-SMA, around 0.6525-30 by the press time. It’s worth noting, however, that the quote’s sustained trading beyond 0.6530 isn’t an open invitation to the Aussie pair buyers as multiple tops marked during late January and early February near 0.6620 and the 50-SMA hurdle of 0.6650 will act as the final defense of the sellers. Meanwhile, the AUDUSD pair’s fresh downside needs validation from the latest multi-day bottom surrounding 0.6470 and the mid-November swing low of around 0.6450. Following that, the odds of witnessing the Aussie pair’s quick fall toward the November 10 swing low of 0.6338 and then to the theoretical target of the H&S, namely the 0.6190 can’t be ruled out. That said, the previous yearly low marked in October around 0.6270 may act as an intermediate halt during the fall between 0.6338 and 0.6190. To sum up, the AUDUSD pair’s recovery remains off the table despite the pair’s latest gains.
by MTradingGlobal
1
AUDUSD lures bears amid softer Aussie inflation, 0.6670 eyedAUDUSD struggles to defend the bounce from a two-month-old rising support line and the 200-SMA amid softer Australia Consumer Price Index (CPI) data. Also attracting offers for the Aussie pair is the risk-off mood and an impending death cross on the four-hour chart, a bearish moving average crossover between the 50-SMA and the 100-SMA. It’s worth noting, however, that the RSI and MACD suggest a slower grind to the south. That said, the aforementioned trend line stretched from early November and the 200-SMA, around 0.6685-75 at the latest, appears crucial for the pair sellers, a clear break of which will help bears to aim for early December peaks surrounding 0.6620. Following that, an eight-week-old horizontal support area near 0.6540-45 will be the last defense of the buyers. Meanwhile, a convergence of the 50-SMA and the 100-SMA, close to 0.6750-60 at the latest, guards the immediate upside of the AUDUSD pair. Should the quote remain firmer past 0.6760, the previous monthly high of around 0.6870 and the mid-2023 peaks near 0.6900 could test the Aussie pair buyers ahead of the 0.7000 psychological magnet and last year’s top of 0.7157. Overall, the AUDUSD buyers appear running out of steam but the bears need validation from 0.6670 to enter the ring.
by MTradingGlobal
AUSDUSD shortFOREXCOM:AUDUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
AUDUSD stays bullish beyond 0.6650 resistance-turned-supportAUDUSD edges higher past 0.6700 after posting the biggest weekly gains since the mid-November. In doing so, the Aussie pair defends Wednesday’s upside break of descending trend line stretched from early February, now immediate support near 0.6650. The resistance break joins upbeat RSI (14) to keep the buyers hopeful. However, the MACD signals appear less bullish and RSI line also nears the overbought conditions. The same suggests limited upside room for the buyers to cheer, which in turn highlights May’s high of around 0.6820 as an immediate upside hurdle to trace. Following that, a 10-month-old horizontal resistance area surrounding 0.6900-6920 will be a tough nut to crack for the bulls. Meanwhile, a downside break of the previous resistance line near 0.6650, now immediate support, could quickly drag the AUDUSD prices to the 200-SMA support surrounding 0.6575. It’s worth noting, however, that tops marked in late August and early September, as well as comprising December’s bottom, will challenge the Aussie pair’s downside past 0.6575 near 0.6525-20. Additionally, a seven-week-old rising support line near 0.6480-75 will act as the final defense for the buyers before giving control to the bears. Overall, AUDUSD is likely to revisit the mid-2023 peaks during the year-end trading. The pullback moves, which are less likely, remain unimportant beyond 0.6475.
by MTradingGlobal
AUDUSD bears have bumpy road ahead, 0.6460 is crucialAUDUSD remains pressured on early Monday, after snapping a three-week uptrend by the end of Friday. In doing so, the Aussie pair justifies its risk-barometer status as traders await this week’s key data/events comprising the US inflation, multiple PMIs and top-tier central bank meetings. In addition to the market’s anxiety, the bearish MACD signals and a downward-sloping RSI (14) line also favors the Aussie pair sellers in targeting a four-month-old horizontal support surrounding 0.6520-15. However, the quote’s weakness past 0.6515 appears difficult unless the bears manage to conquer the 0.6460 support confluence comprising the 100-SMA and a six-week-old rising support line. Following that, the pair becomes vulnerable to decline towards an area near 0.6360 that includes multiple levels marked since the mid-August. Meanwhile, the AUDUSD pair’s recovery needs validation from the 0.6600 and the scheduled catalysts to convince buyers. Even so, the 61.8% Fibonacci ratio of the pair’s June-October downside, close to 0.6660, will precede the monthly high of 0.6690 and the 0.6700 to test the Aussie bulls before giving them control. In a case where the quote remain firmer past 0.6700, the 78.6% Fibonacci retracement level of around 0.6770 and June’s peak near 0.6900 will be in the spotlight. Overall, AUDUSD is likely to remain pressured during the key week but the road toward the south appears long and bumpy.
by MTradingGlobal
AUDUSD extends pullback from 100-SMA despite RBA rate hikeAUDUSD drops nearly 50 pips even after the Reserve Bank of Australia (RBA) matches expectations of announcing a 0.25% rate hike. In doing so, the Aussie pair extends the previous day’s pullback from the 100-day SMA while poking a five-month-old horizontal support. It’s worth noting that the RSI (14) line’s retreat from the nearly overbought territory also suggests the quote’s further declines past the multi-month-old horizontal support surrounding 0.6460. In that case, the 50-SMA support of 0.6390 will act as the final defense of the buyers before dragging the pair toward a one-month-old horizontal support zone nearing 0.6290 and then to the yearly bottom of 0.6270. On the contrary, the AUDUSD’s corrective bounce off the immediate horizontal support of near 0.6460 will need validation from the 100-SMA level of 0.6500 to convince the bulls. Even so, the monthly high of around 0.6525 and June’s low close to 0.6600 will challenge the Aussie pair’s upside. In a case where the quote remains firmer past 0.6600, a nine-month-old falling resistance line near the 0.6700 round figure and the late July swing high of around 0.6740 will be on the buyer’s radar. Overall, the AUDUSD pair’s latest decline shows the market’s lack of belief in the RBA’s hawkish move, which in turn joins the bearish signals to keep the sellers hopeful.
by MTradingGlobal
Audusd boosts the trend of increasingGreetings, beloved companions! Following a prolonged period of lateral movement, AUDUSD has at last regained its upward momentum. This resurgence is attributed to the weakening of the USD, which in turn provides substantial support for this particular currency pair. Having effortlessly surpassed the 0.644 peak, there is potential for it to establish itself as a robust support level. Should there be a retest of the breakout area, it would further reinforce the significant progress made by this currency pair.
Long
by Samson-FX
AUDUSD begins eventful week on a front foot, 0.6380 eyedAUDUSD prints a three-day winning streak on upbeat Australia Retail Sales for September during the initial trading hours of an eventful week comprising the FOMC and US NFP. In doing so, the Aussie pair extends the previous week’s rebound from a monthly support line while also justifying the bullish MACD signals and the upbeat RSI (14) line. With this, the pair buyers are confident while planning the battle with the 0.6380-85 resistance confluence comprising the 200-SMA and descending trend lines stretched from late September, as well as from early October. Also acting as the upside filter is the previous weekly high of around 0.6400 and the monthly peak surrounding 0.6450, a break of which will give control to the bulls. On the contrary, the 0.6300 round figure restricts the short-term downside of the AUDUSD pair. Following that, a slightly rising support line from early October, close to 0.6290 at the latest, will act as the final defense of the Aussie pair buyers. It’s worth noting that the monthly trough near 0.6270 will also challenge the sellers before allowing them to target the previous yearly bottom close to 0.6190. Overall, the AUDUSD pair remains in the recovery mode but the upside momentum needs validation from the 0.6380-85 hurdle and the scheduled key fundamental data/events.
by MTradingGlobal
AUDUSD ShortFOREXCOM:AUDUSD if you like the ANALYSIS, give a BOOST Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard
Short
by Phinics
AUDUSD trading strategy on October 20The RBA meeting has been held and we have found the co-governor leaning towards the possibility of additional interest rate hikes and will await economic data in the near term. In line with the hawkish trend, RBA Governor Michele Bullock spoke at the summit yesterday and pointed to recent back-to-back events that provide a high reward. All of this makes Wednesday's Australian Q3 CPI the focus of attention for AUD. A Bloomberg survey expected the full share to come in at 5.2%, well above the RBA's mandated target of 2-3%. In the near future, US government bond benefits will increase higher than continued USD support and could create AUD/USD at a new bottom.
Long
by NicoTradingMaster
AUD is gradually forming a double bottom patternAUD/USD continues to recover from the 0.6285 area, gradually forming a double bottom pattern with the neckline at 0.6435. On frame D1, the recovery momentum has weakened after touching the 20-day MA at 0.6380. On the H4 frame, the currency pair is still maintaining an uptrend. The RSI and MACD indicators signal that the upward momentum is still maintained. The price can still gain momentum if it maintains above the MA 20 line at 0.6330. Immediate resistance will be at 0.6390 and 0.6435. If the price retraces below 0.6330, the next important support levels will be 0.6310, 0.6285 and 0.6255.
Long
by NicoTradingMaster
AUDUSD bears again approach 0.6285 key supportAUDUSD extends the previous day’s retreat from the weekly top towards the bottom line of a three-week-old descending triangle surrounding 0.6285, tested twice in October. It’s worth noting, however, that the RSI (14) line is nearly oversold and hence challenges the Aussie bears around the key support. The same highlights the probability of witnessing a bounce from 0.6285 support but the recovery remains elusive unless the quote confirms the aforementioned bullish triangle, by crossing the 0.6390 upside hurdle. Even so, the 200-SMA and a downward-sloping resistance line stretched from early August, close to 0.6400 and 0.6440 respectively at the latest, will test the Aussie bulls before giving them control. Meanwhile, a downside break of the stated 0.6285 key support will need validation from the November 2022 low of around 0.6270 to keep the AUDUSD bears on the table. In that case, the 0.6200 round figure and the previous yearly low of around 0.6170 could lure the pair sellers. In a case where the pair remains weak past 0.6170, it becomes vulnerable to drop toward the April 2020 bottom of around 0.5980. That said, softer Australia Employment Change and Participation Rate join the broad US Dollar recovery to weigh on the AUDUSD pair. However, the downside room appears limited.
by MTradingGlobal