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AUDUSD bulls eye 200-DMA on Aussie employment data dayAlthough AUDUSD retreats from a descending trend line from early April, the 100-DMA challenges the pair bears as they cheer a retreat from a two-month high. The same paves the way for the Aussie pair’s another battle with the 200-DMA hurdle, around 0.6950 by the press time. It should be noted, however, that the overbought conditions of RSI suggest the quote’s third pullback from the key moving average resistance. Though, a clear upside break of the 200-DMA, as well as sustained trading beyond the 0.7000 psychological magnet, won’t hesitate to challenge the August 2022 peak near 0.7135. On the contrary, a daily closing beneath the 100-DMA support surrounding 0.6700. Following that, July’s low near 0.6680 can act as an extra downside filter before directing bears toward the 23.6% Fibonacci retracement level of the April-October downturn, close to 0.6520 as we write. In a case where AUDUSD bears dominate past 0.6520, the odds of witnessing a fresh yearly low, currently around 0.6170, can’t be turned down. Overall, AUDUSD is on the bull’s radar but the 200-DMA appears strong challenge for the pair’s further upside.
by MTradingGlobal
AUDUSD rebound remains unreal below 0.6780Despite falling heavily after the US inflation, the AUDUSD bounced off a two-month-old support line as nearly oversold RSI pushed back the bears. The recovery, however, remains below a two-week-old horizontal hurdle surrounding 0.6770-80, which in turn joins bearish MACD signals to challenge the optimists. If the Aussie pair crosses the 0.6780 hurdle, it can quickly run up towards the 61.8% Fibonacci retracement level of July-August upside, around 0.6855. Following that, a convergence of the 200-SMA and a downward sloping resistance line from mid-August, close to 0.6910, appears a tough nut to crack for the bulls. Meanwhile, a clear downside below the aforementioned two-month-long support line, at 0.6700 by the press time, won’t hesitate to challenge the yearly low marked in July at around 0.6680. During the AUDUSD pair’s weakness past 0.6680, the RSI might have turned oversold and could challenge the bears. Also acting as a downside filter is the 61.8% Fibonacci Expansion (FE) of the August 11 to September 13 moves, close to 0.6645. In a case where the quote drops below 0.6645, the odds of witnessing the 0.6600 threshold on the chart can’t be ruled out. Overall, AUDUSD is likely to remain on the bear’s radar but the downside room is limited, which suggests further grinding of the pair ahead of next week’s FOMC.
by MTradingGlobal
1
AUDUSD prepares for more downside below 0.6900AUDUSD reversed before the 100-DMA hurdle on Friday. The bears, however, jostle with the five-week-old horizontal support area surrounding 0.6860-50 afterward, a break of which could quickly drag the quote towards May’s low near 0.6830. It’s worth noting that the pair’s downside past 0.6830 could have an intermediate halt around the 0.6800 round figure before directing the bears toward the 0.6680-70 support zone comprising the lows marked during September 2019 and July 2022. Alternatively, recovery moves may initially poke the 0.7000 psychological magnet before attacking the 100-DMA resistance, around 0.7030 by the press time. Even if the quote rises past 0.7030, the 200-DMA level near 0.7130 and the monthly high of 0.7136 will be crucial for the AUDUSD bulls to tackle to retake control. Following that, an upward trajectory towards June’s peak, close to 0.7285, can’t be ruled out. Overall, AUDUSD bears are in the driver’s seat and are riding towards the yearly low.
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
AUD/USD AnalysisThe AUD/USD has resumed its decline in Asia, despite surprised by the sharp rise in inflation data. “Underlying inflation accelerated to 1% quarter-on-quarter and 2.6% year-on-year in the fourth quarter. Quarterly trimmed inflation was at its highest level since the third quarter of 2008, with annual figures For the first time since mid-2014, we are above the center of the Reserve Bank of Australia's target range, ". "RBA will almost certainly need to adjust forward guidance to admit that rate hikes are possible this year. RBAs are likely to want wage growth to accelerate significantly. Therefore, it seems that the main argument is not to shift to a rate hike in 2022. However, it is possible to prove this faster than expected. " The AUD / USD has returned to the well-known conflict level around 0.7160, which has played both support and resistance roles since last September. Beyond this area, the 100-day simple moving average (SMA), which is the level at which the bulls struggled earlier this month, will be tested. Alternatively, 23.6% Fibonacci retracement seems likely to be the level of support after the daytime descent could not break Fibonacci.
by FiscalAutonomy
💡Don't miss the great sell opportunity in AUDJPY Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (84.480). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDJPY is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 48 Take Profits: TP1= @ 84.230 TP2= @ 83.970 TP3= @ 83.740 TP4= @ 83.440 TP5= @ 83.020 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
2
A trading opportunity to sell in EURAUDMidterm Forecast: There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.6190 would begin in Midterm. Technical analysis: The RSI bounced from the resistance #1 at 62 and it prevented the price from more gains. A trough is formed in the daily chart at 1.5425 on 06/14/2018, so more gains to resistance(s) 1.5825, 1.5890, 1.6040 and maximum to Major Resistance (1.6190) is expected. Price is above WEMA21, if the price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 53. Trading suggestion: There is a possibility of temporary retracement to suggested Sell Zone (1.5825 to 1.5890). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (1.5825) Ending of entry zone (1.5890) Take Profits: TP1= @ 1.5730 TP2= @ 1.5620 TP3= @ 1.5525 TP4= @ 1.5425 TP5= @ 1.5275 TP6= @ 1.5075 TP7= @ 1.4910 TP8= @ 1.4605 TP9= @ 1.4445 TP10= @ 1.4040 TP11= @ 1.3675 TP12= @ 1.2225 TP13= @ 1.1600 TP14= Free
Short
by ForecastCity