A clear downside break of the 10-month-old rising support line teases the AUDUSD bears as China releases mixed inflation data from July. Even so, an ascending trend line from early November 2022, close to 0.6470, could join the nearly oversold RSI to challenge the Aussie bears. Following that, a 78.6% Fibonacci retracement of October 2022 to February 2023 upside,...
AUDUSD fades bounce off a three-week low while poking a two-month-old rising support line, now immediate resistance around 0.6730, on the Reserve Bank of Australia (RBA) Interest Rate Decision Day. Adding strength to the upside barrier is the 200-DMA hurdle surrounding the said 0.6730 level. Following that, a run-up towards the 50% Fibonacci retracement of...
AUDUSD remains on the front foot while printing the first daily gains in five after strong Australian employment data. The pair’s latest upside also justifies the upward-sloping RSI line, not oversold, as well as the bullish bias of the MACD signals. With this, the quote is likely to extend the north run toward May’s peak of around 0.6820 ahead of targeting the...
The odds of witnessing further AUDUSD upside appear dicey as a convergence of the 21-EMA and 50-EMA, around the 0.6700 round figure, challenges the bulls, together with the RBA’s inability to defend the hawkish bias. However, a three-month-old ascending support line, close to 0.6600 at the latest, limits the Aussie pair’s downside. Even if the quote drops below...
AUDUSD remains on the back foot at the three-week low after posting the biggest weekly loss since August 2022 on Australia inflation day, breaking convergence of the 200-SMA and 50% Fibonacci retracement of its late May to early June run-up on downbeat Aussise Monthly CPI. Having breached the stated key support, the 61.8% and 78.6% Fibonacci retracements,...
AUDUSD marked the biggest weekly gain since early November 2022, not to forget mentioning the second in a row, backed by RBA’s hawkish surprise. The Aussie pair, however, currently jostles with the key upside hurdle as the key week comprising the US inflation and Federal Reserve (Fed) monetary policy decision looms. That said, a four-month-old descending...
AUDUSD struggles to defend the previous weekly rebound from the yearly low as traders await the Reserve Bank of Australia’s (RBA) monetary policy decision. Although the Aussie central bank is likely to keep the benchmark rates unchanged after a surprise 0.25% rate hike in the last, it can follow the RBNZ’s hawkish action amid recently firmer Australian data and...
AUDUSD remains on the bear’s side after breaking the key support line in the last week. The nearly oversold RSI, however, allowed the quote to consolidate in the last few days while the bearish MACD signals keep sellers hopeful. Hence, the Aussie pair remains vulnerable to testing an eight-month-old horizontal support zone surrounding 0.6380 while any further...
AUDUSD remains pressured inside a two-week-old descending triangle after posting heavy losses in the last week. Also favoring the downside bias is the Aussie pair’s sustained trading below the 200-EMA, as well as bearish MACD signals. It’s worth noting, however, that the RSI (14) appears mostly oversold and hence the pair’s bottom-picking around the stated...
AUDUSD remains firmer inside an 11-week-old trading range, poking the 100-DMA hurdle of 0.6790 of late. Apart from the 100-DMA, the stated range’s top line, close to 0.6810, also challenges the Aussie pair buyers. It’s worth noting, however, that the RSI conditions approach the overbought territory and hence the 0.6810 hurdle appears crucial for bulls to cross to...
AUDUSD marked negative closings in the last two consecutive weeks ahead of the Reserve Bank of Australia’s (RBA) monetary policy decision. That said, the previous weekly fall could be linked to a downside break of a seven-week-old ascending support line. However, the Aussie pair recently confirmed a short-term falling wedge bullish chart formation. The same joins...
AUDUSD stays below the key support line stretched from the last October, after multiple rejections from the 100-DMA hurdle, as traders analyze Australian inflation data on Wednesday. With a clear break of important previous support joining downbeat RSI and bearish MACD signals, the Aussie pair has a further downside to track. The same highlights the 61.8%...
AUDUSD stays within a three-week-old bullish channel, poking the upside hurdle, on the RBA day. It’s worth noting that the 200-EMA adds strength to the top line of the state channel, around 0.6815-20 by the press time. Given the firmer oscillator, the bulls are likely to keep the reins. However, a clear upside break of the 0.6820 hurdle becomes necessary for the...
Following its bounce off YTD low, the AUDUSD pair crossed an important resistance line from early February, now support. The Aussie pair’s further advances, however, remained gradual and portray a 13-day-old bullish channel. That said, the quote picks up bids inside the aforementioned bullish chart formation ahead of Australia’s monthly Consumer Price Index (CPI)...
Even if sustained trading below the 100-DMA and a three-month-old ascending trend line become necessary for the AUD/USD bears, a daily closing below the 200-DMA and an upward-sloping previous support line from October 2022 signals the pair’s further decline. Further, the bearish MACD signals and downbeat RSI adds strength to the downside bias. Hence, the sellers...
AUDUSD braces for the first monthly loss in four despite Friday’s rebound from the 61.8% Fibonacci retracement of its December 2022 to early February highs. A clear downside break of the two-month-old ascending trend line joins a two-week-old descending trend line to favor sellers. Adding strength to the bearish bias are the downbeat oscillators. The corrective...
Having breached a one-month-old bullish channel the last Friday, AUDUSD portrays a recovery that recently crossed the 200-SMA and a horizontal support area comprising multiple levels marked since early December 2022, respectively near 0.6900 and 0.6880-70. Also adding to the downside filter is a seven-week-long ascending trend line, close to 0.6840 at the latest,...
Despite the AUDUSD pair’s south-run on the downbeat Aussie jobs report, the pair trades successfully inside a 3.5-month-long upward-sloping trend channel. That said, the overbought RSI highlights beyond an ascending trend line hurdle stretched from mid-November and the 61.8% Fibonacci retracement level, respectively near 0.7015 and 0.7090 as near-term key hurdles....