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AUDUSD.10.CFD trade ideas

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 ANALYSIS (SELL)AUDUSD seems vulnerable there has been a long respected falling resistance since 05 April which had traded with highest peak at around 0.76534. by that point then the Aussie keep falling like a Jo's waterfall🤑. Believe me, Trading Aussie (Australian Dollar) against Greenback (USD) will be more profitable if we look at the falling trend channel, and XABCD HARMONIC PATTERN, I expect the extension of the price close below the C, because it's our previous resistance level with 0.66951. The extension may go all the way down to 0.66759 or beyond, at an area of 0.64295. Wait for the daily candle closure below C which is 0.66855 and if expect retest below the demand boundary, however it is not necessary to retest due to correctional movement that may probably occur during FOMC meeting. Anyways guys. Don't rush, wait and we will keep you updated. If you are willing to buy AUDUSD note that, it is not the right time, unless it is confirmed to continue Trading within the horizontal range area between C to below price of be that's 0.66919 to 0.70039, breaking area of B will invalidate our analysis because B stands for the last highest traded price since 12 August, and it is boundary of falling resistance and it was a resistance horizontally also.
Short
by CELGIB_TRADING
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
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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