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AUDUSD sellers need 200-DMA breakdown to keep controlAUDUSD bounces off 50-DMA, following a retreat from the 3.5-month-old previous support line. The recovery moves fail to justify the downbeat oscillators and Aussie data, which in turn keep sellers hopeful. That said, a daily closing below the stated short-term moving average, around 0.6880 by the press time, could convince the Aussie bears. However, the 200-DMA surrounding the 0.6800 threshold becomes crucial support as it lured buyers earlier in January. Should the quote manages to break the 200-DMA, the odds of witnessing a slump toward the previous monthly low near 0.6685 and then towards the late 2022 swing lows around 0.6630 and 0.6580 can’t be ruled out. Meanwhile, the AUDUSD rebound needs to run a successful show beyond the support-turned-resistance line from November, close to the 0.7000 psychological magnet. Following that, the Aussie buyers may aim for the 0.7050 level before challenging the all-important 0.7135-55 resistance area comprising multiple tops marked since August 2022. It’s worth observing that the pair’s sustained break of 0.7155 won’t hesitate to cross the mid-2022 top surrounding 0.7285 and brace for the previous yearly high near 0.7660. Overall, AUDUSD is all set to reverse the late 2022 run-up but a clear downside break of 200-DMA becomes necessary.
by MTradingGlobal
AUDUSD has limited downside room on RBA dayHaving 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, a break of which won’t hesitate to drag prices toward the previous monthly low surrounding 0.6685. It should be noted that the oversold RSI (14) hints at a corrective bounce even if the MACD supports the bearish momentum. Alternatively, recovery moves may initially aim for the 0.7000 psychological magnet in case of the hawkish RBA announcements, other than the already known 0.25% rate hike. Following that, the aforementioned channel’s lower line, around 0.7080 by the press time, could probe the AUDUSD bulls. In a case where the Aussie pair buyers remain in control past 0.7080, a weekly resistance line near 0.7165 will act as the last defense of the ears bears. To sum up, AUDUSD remains on the bear’s radar on the RBA day but the downside appears limited.
by MTradingGlobal
AUDUSD lures bears even as 200-SMA probes immediate downsideA clear break of the monthly bullish channel welcomed AUDUSD buyers the last week despite the quote’s hesitance to break the 200-SMA. That said, bearish MACD signals add strength to the downside bias suggesting an imminent fall to the November 08 swing high surrounding 0.6550, given the successful break of the 200-SMA level of 0.6660. Following that, the 78.6% Fibonacci retracement level of the Aussie pair’s November-December upside, around 0.6410, can’t be ruled out. Meanwhile, any recoveries need to defy the channel breakdown by successful trading above the 0.6725-30 support-turned-resistance to recall the AUDUSD buyers. Even so, the 0.6800 hurdle comprising multiple levels marked since mid-November could test the bulls before giving them control. In a case where AUDUSD remains firmer past 0.6800, the December-start peak near 0.6850 could return to the chart. However, a convergence of the stated channel’s upper line and the monthly high, close to 0.6890, closely followed by the 0.6900 round figure, appears a tough nut to crack for the pair buyers afterward. Overall, AUDUSD sellers are in the driver’s seat and await a clear break of the 200-SMA to dominate further.
by MTradingGlobal
AUDUSD needs to cross 200-DMA for further upsideAUDUSD grinds near a three-month high as the RBA lifts benchmark interest rate by 0.25%, as expected. Given the RSI pullback from the overbought conditions, a monthly resistance line near 0.6740 restricts the quote’s immediate upside ahead of the key six-month-old descending trend line, near 0.6880 by the press time. Even so, the 200-DMA level around 0.6920 becomes the last defense of the pair sellers and may probe the north run afterward. In a case where the Aussie pair remains firmer past 0.6920, a run-up towards the tops marked in August, close to 0.7010 and 0.7135, will be in focus. Alternatively, a daily closing below the the 100-DMA and July’s low near 0.6680-85 could please the AUD/USD bears. In a case where the Aussie pair remains weak past 0.6680, a south-run towards October’s peak near 0.6545 can’t be ruled out. It should be noted that the quote’s weakness past 0.6545 will make it vulnerable to challenging the yearly low surrounding 0.6170. Overall, AUDUSD approaches the key resistances but the buyers seem running out of fuel.
by MTradingGlobal
AUDUSD bulls are at test, 0.6535 is the keyAUDUSD remains pressured after printing the first negative week in five. The bearish bias recently got acceptance from the 50-SMA breakdown. However, a 13-day-old support line near 0.6560 and the 100-SMA level surrounding 0.6535 challenge the bears of late. Should the quote drops below the key moving average, the odds of witnessing a gradual south-run towards a five-week-old ascending support line and 23.6% Fibonacci retracement level of the September-October downturn, near 0.6350, could act as the last defense before directing sellers towards the yearly low near 0.6170. Meanwhile, the 50-SMA and a one-week-old descending trend line guard recovery moves of the AUDUSD pair around 0.6655 and 0.6700 respectively. Even if the Aussie pair buyers manage to cross the immediate hurdles, the 78.6% Fibonacci retracement and the monthly top, close to 0.6760 and 0.6800 in that order, will act as additional upside filters to challenge the upside momentum. Following that, a run-up towards the top marked in September around 0.6920 and the 0.7000 threshold can’t be ruled out. Overall, AUDUSD bulls ran out of steam in the last week and further downside is on the cards.
by MTradingGlobal
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 sellers struggle on the RBA dayAUDUSD bounces off a one-month-old horizontal support while poking the 200-SMA on the day of the Reserve Bank of Australia’s (RBA) scheduled monetary policy announcements. While a clear downside break of the 0.6345-60 support area opens the door for the Aussie pair’s fresh yearly low, currently around 0.6170, an upward-sloping support line from October 13 could act as a buffer near the 0.6250 level. That said, the 61.8% Fibonacci Expansion (FE) of the AUDUSD pair’s moves between September 13 to October 27, close to 0.6060, will be in the spotlight during the pair’s downside past 0.6170. Alternatively, the 200-SMA and seven-day-old previous support, respectively near 0.6450 and 0.6480, could challenge the AUDUSD pair’s recovery moves. Following that, multiple levels marked since September 26 could test the buyers around 0.6540-50. It should, however, be noted that the pair’s successful run-up beyond 0.6550 could aim for the 61.8% and 78.6% Fibonacci retracement levels of the quote’s September-October downside, close to 0.6630 and 0.6755 in that order.
by MTradingGlobal
AUDUSD braces for recovery near YTD low, 0.6365 is crucialAUDUSD rebounds inside a three-week-old falling wedge bullish chart formation and it becomes more important for the short-term buyer’s return as the quote is around the 2.5-year low. It should, however, be noted that only an upside break of 0.6290 hurdle won’t be enough to convince bulls as a horizontal area surrounding 0.6345-65 appears a tough nut to crack for them before retaking control. Also asking as the upside filter is another horizontal zone from September 26, close to 0.6540, as well as the 200-SMA near 0.6580. Meanwhile, pullback moves remain elusive beyond the stated wedge’s support, near 0.6180 by the press time, breaking which the yearly low near 0.6170 could act as the validation point for the AUDUSD pair’s further weakness. During the pair’s weakness past 0.6170, the 0.6000 psychological magnet will be on the bear’s radar ahead of April 2020 low near 0.5980. Overall, AUDUSD bears are running out of steam and can trigger a short-term rebound. It’s worth noting, however, that the bulls have a long and bumpy way to ride.
by MTradingGlobal
AUDUSD drops towards 0.6500 on RBA’s smaller rate hikeAUDUSD reverses the previous weekly gains as the RBA disappoints bulls with 25 basis points (bps) of a rate hike, compared to a widely anticipated 50 bps move. With this, the Aussie pair reverses from a two-week-old resistance line, as well as a horizontal area comprising multiple tops marked since September 26. That said, the pair’s latest weakness aims for the 0.6400 threshold before testing the recent swing low near 0.6390. However, the yearly low near 0.6360 and the 61.8% Fibonacci Expansion (FE) of September 15-29 moves, near 0.6280, could probe the bears afterward. Alternatively, the aforementioned resistance line and the horizontal resistance area challenge buyers below 0.6535. Following that, the 100-SMA level surrounding 0.6625 could gain the market’s attention. In a case where the AUDUSD buyers manage to cross the 0.6625 hurdle, the 0.6740-50 area comprising the 200-SMA and highs marked since September 20 will act as the last defense of sellers. Overall, AUDUSD is ready for a fresh downside and can renew the yearly low as RBA disappoints policy hawks.
by MTradingGlobal
AUDUSD bears again aim for sub-0.6400 areaAUDUSD fails to extend the previous day’s corrective bounce off the two-year low as a 12-day-old resistance line joins the 61.8% Fibonacci Expansion (FE) of April-August moves, around 0.6530, to recall the bears. The nearly oversold RSI conditions, however, challenge the pullback moves, which in turn suggest limited downside and highlight the 78.6% FE level near 0.6365. In a case where the pair declines below 0.6365, the 0.6300 and the 0.6200 thresholds may please the bears before directing them to the 100% FE level near 0.6150. Alternatively, recovery moves must stay successfully beyond the 0.6530 resistance confluence to aim for the 2.5-month-old hurdle, around 0.6680-85. Following that, the monthly high near 0.6915 and a downward sloping resistance line from early June, close to 0.7020, will be in focus. Overall, AUDUSD is up for further downside but the room to the south appears limited.
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 braces for yearly low on RBA dayAUDUSD bears take a breather after bouncing off a two-month-old horizontal support area, inside a broad bearish channel from early May, as traders await the Reserve Bank of Australia’s (RBA) verdict. Although the Aussie central bank is up for another 0.5% rate hike, the fears of economic slowdown due to the trade links with China appear to tease the sellers. That said, a clear downside break of 0.6760 appears necessary for the sellers to approach the yearly low near 0.6680. Following that, the likely oversold RSI (14) and lower line of the stated channel, could challenge the further downside around 0.6560. Even if the quote drops below 0.6560 support, the 61.8% Fibonacci Expansion (FE) of April-August moves, near 0.6530, could act as another downside filter. Meanwhile, recovery moves could aim for the early August low near 0.6870 before the 100-DMA hurdle surrounding 0.6990 gains the market’s attention. Should the AUDUSD bulls manage to cross the 0.6990 resistance, the 0.7000 threshold and the aforementioned bearish channel’s upper line, close to 0.7080 by the press time, will be important to watch. It’s worth mentioning that the pair’s run-up beyond 0.7080 could give control to bulls.
by MTradingGlobal
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 bears keep reins with eyes on 0.6800AUDUSD broke a one-month-old bullish channel after witnessing a downbeat Aussie Wage Price Index. The south-run also gained support from the softer jobs report for July. Even so, a convergence of the 200-SMA and 50% Fibonacci retracement of the July-August upside, near 0.6900, restricts the immediate downside of the pair. It’s worth noting, however, that the RSI (14) is near the oversold territory and suggests limited declines before the bounce. Should the quote breaks the 0.6900 round figure, the monthly bottom surrounding 0.6870 and the 61.8% Fibonacci retracement level near 0.6850 could entertain the bears before directing them to the mid-July swing high close to 0.6800. Meanwhile, corrective pullback needs to cross the stated channel’s support line, around 0.6970 by the press time, to convince the buyers. Following that, the weekly resistance line near the 0.7000 threshold could try stopping the upside moves. In a case where AUDUSD bulls cross the 0.7000 hurdle, the month-start peak around 0.7050 might become the last defense of bears before directing the prices towards the monthly high of 0.7136. Overall, AUDUSD has signaled a bearish trajectory after the downbeat employment numbers and is ready to reverse the bounce off the yearly low marked during July.
by MTradingGlobal
Restaurants brands asia (Burger King) about to breakoutI am new to technical analysis and I observed whats mentioned on the chat. Please like if you agree or want to suggest something. On longer term its creating a symmetrical triangle, which is about to break. On short term its has created an ascending triangle. It had breakout and retested the levels. Very close to its 200 day SMA. Once it breaks the trendline, it can be a good buy opportunity. I am learning so its not a suggestion or recommendation.
NSE:RBA
by morbidTortoise67939
3
RBA is in IMPORATNT Level?Today Stock broke its recent (Apr 6) High), Now Stock is facing Major Resistance. If it break LONG Term resistance with good candle and volume, then we may see strong upside movement in coming days. It has a potential to reach 150, after the breakout. Wait for the proper breakout to enter. Recent chart gives clear picture how bull are in control. Now its a testing time, whether it is a profit booking or genuine bullish movement. This is just a view not recommendation to trade. Share your opinion in comment Section. NSE:RBA
NSE:RBA
by varun_devadiga
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 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
AUDUSD stays on the way to sub-0.7000 region despite recent bounAUDUSD rebounds from a two-month low, also snapping a four-day downtrend, by cheering a strong quarterly inflation data at home. The recovery moves could also be linked to the oversold RSI and a U-turn from 78.6% Fibonacci retracement of the January-April upside. However, the Aussie remains below the key moving averages and the Fibo levels and the MACD signals are firmly bearish, which in turn suggests that the bears aren’t out of the woods. Hence, fresh selling pressure can’t be ruled out with the first support around 0.7110, comprising 78.6% Fibo. Following that, 0.7050 and the 0.7000 psychological magnet can lure the sellers ahead of directing them to the yearly low surrounding 0.6965. Meanwhile, further recovery hinges on the pair’s ability to close beyond the previous month’s low surrounding 0.7165. Should the AUDUSD bulls manage to cross the 0.7165 hurdle, the 61.8% Fibonacci retracement level and the 200-DMA, respectively around 0.7230 and 0.7290, will be on their radar. Even so, the 50-DMA and the support-turned-resistance line from January, close to 0.7355 and 0.7385 in that order, will test the pair buyers before giving them control. Other than the technicals, the market’s risk-off mood and firmer USD also challenge the AUDUSD buyers.
Short
by MTradingGlobal