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AUDUSD.10.CFD trade ideas

AUDUSD rebound appears interesting if it stays beyond 0.6960AUDUSD managed to rebound from a two-year low on Friday, snapping a six-day downtrend and portraying a falling wedge bullish chart pattern. However, downbeat data from China and fresh fears of covid resurgence push the risk-barometer pair to reverse the previous day’s recovery moves during early Monday. Even so, the RSI’s bullish divergence, confirmation of the falling wedge seems more likely, which in turn could gain recovery strength on staying beyond the 0.6960 hurdle. Following that, a run-up towards the downward sloping trend line from early April, surrounding 0.7150 can’t be ruled out. However, the 0.7000 and the 0.7100 thresholds may offer intermediate halts during the anticipated rally. If at all the pair buyers keep reins past 0.7150, the 200-SMA level near 0.7280 will act as the last defense for the bears. Meanwhile, fresh declines can initially target the latest multi-month low around 0.6830 ahead of challenging the 0.6800 round figure, also comprising the lower line of the aforementioned wedge. It’s worth noting that the AUDUSD pair’s sustained downtrend past 0.6800 will aim for an early 2020 peak close to 0.6685 before targeting the sub-0.6600 area. Overall, AUDUSD bears are running out of steam and a corrective pullback is more likely.
by MTradingGlobal
💡Don't miss the great buy opportunity in AUDUSD Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.7175). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDUSD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 70 Take Profits: TP1= @ 0.7265 TP2= @ 0.7295 TP3= @ 0.7340 TP4= @ 0.7400 TP5= @ 0.7456 SL= Break below S2 ❤️ 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 ❤️
Long
by ForecastCity_ME
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
💡Don't miss the great buy opportunity in AUDUSD Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.7498). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 62 Take Profits: TP1= @ 0.7529 TP2= @ 0.7570 TP3= @ 0.7600 TP4= @ 0.7629 TP5= @ 0.7671 SL= Break below S2 ❤️ 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 ❤️
Long
by ForecastCity_ME
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