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AUDUSD.10.CFD trade ideas

AUDUSD stays pressured around yearly low on RBA status quoAUDUSD holds lower grounds near 0.6335, close to the yearly low marked last week, after the Reserve Bank of Australia (RBA) left its cash rate unchanged as expected. It’s worth noting that the RBA Rate Statement appeared a bit dovish and hence allowed the Aussie bears to keep the reins, especially amid a broadly firmer US Dollar. Additionally, the bearish MACD signals and an absence of the oversold RSI line also keep the pair sellers hopeful. With this, the quote is likely to revisit a seven-month-old downward-sloping support line surrounding 0.6310, quickly followed by the 0.6300 round figure. Following that, the November 2022 bottom of near 0.6270 may act as the final defense of the buyers before directing the pair toward the previous yearly low close to 0.6170. Meanwhile, a corrective bounce can aim for the 78.6% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6380 by the press time, ahead of directing the AUDUSD buyers toward the 50-day SMA level of around 0.6470. In a case where the Aussie bulls manage to keep the reins past 0.6470, a five-week-long descending resistance line near 0.6505 will be the last hurdle for the upside targeting June’s low of near 0.6600. It’s worth noting that the Aussie pair’s successful run-up beyond 0.6600 enables the quote to reverse the 2.5-month-old downtrend by aiming for July’s peak surrounding 0.6900. Overall, AUDUSD remains in the bearish trend even as the multi-month-old descending resistance line challenges the sellers.
by MTradingGlobal
AUDUSD eyes yearly low despite upbeat Australia inflationAUDUSD breaks a three-week-old rising support line even as Australia’s Monthly Consumer Price Index (CPI) matches upbeat market forecasts for August with 5.2% YoY figures. The trend line breakdown joins bearish MACD signals to keep the Aussie pair sellers hopeful. However, the RSI (14) line is approaching the oversold territory and hence suggests a limited room towards the south. The same highlights the yearly low marked earlier in September around 0.6360. In a case where the pair bears ignore the oversold RSI and refresh the yearly low, the 0.6300 round figure and November 2022 bottom of around 0.6270 will be on their radars ahead of the year 2022 low of 0.6170. On the contrary, the support-turned-resistance line of around 0.6415 guards the immediate recovery of the AUDUSD pair. Following that, a convergence of the 200-SMA and the 50-SMA, around 0.6440 by the press time, will challenge the Aussie bulls. Should the quote remain firmer past the key SMA confluence, the 0.6500 round figure and a six-week-long horizontal resistance around 0.6530 will be crucial to watch for clear directions as a sustained break of them will welcome the buyers with open hands. Overall, AUDUSD remains in the bearish trend despite upbeat Australian inflation data.
by MTradingGlobal
AUD continues to recover while still having difficulty resistancHello dear friends! Audusd continues to shine today when maintaining a significant increase and is currently trading about 0.645. Looking at the technical picture in today's 4 -hour chart, Au is receiving strong support and the next goal will be the 0.650 area. This is a strong resistance area when Au has reached the peak twice but cannot overcome, forcing Au to have a very strong motivation in the near future if he wants to overcome this resistance area. And bring many buyers to the market.
by Samson-FX
AUDUSD bulls challenge five-week-old descending triangleStrong China data and a clear upside break of the 10-day SMA allow AUDUSD buyers to prod the resistance line of a five-week-old descending triangle on early Friday. Adding credence to the Aussie pair’s upside bias is the upward-sloping RSI (14) line, not overbought, and the bullish MACD signals. With this, the risk-barometer pair is likely to cross the immediate hurdle surrounding 0.6460, which in turn will open the door for the pair’s run-up toward the 50-day SMA level of around 0.6560. It’s worth noting that the 0.6500 round figure and the 61.8% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6550, act as extra upside filters to watch during the quote’s further upside. In a case where the pair price remains firmer past the 50-DMA, the lows marked in late June and early July around 0.6600 will act as the final defense of the bears. Meanwhile, the AUDUSD pair’s failure to provide a daily closing beyond 0.6560 could drag it back to the 10-day SMA level of surrounding 0.6415. However, the 78.6% Fibonacci ratio and the stated triangle’s bottom line, respectively around 0.6380 and 0.6355, will test the Aussie pair sellers afterward. Should the quote stay weak past 0.6355, the November 2022 low of around 0.6270 and the previously yearly bottom of around 0.6170 will lure the sellers. To sum up, the AUDUSD pair is likely to witness additional recovery but the upside room appears limited.
by MTradingGlobal
AUDUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
1
AUDUSD bears flex muscles on RBA DayAUDUSD bulls struggle to hold the forte after posting the first weekly gain in seven on the Reserve Bank of Australia (RBA) Interest Rate Decision Day. That said, the Aussie pair trades within a three-week-old bearish triangle, staying below the convergence of the 100-SMA and 50-SMA surrounding 0.6450 on the key day. It’s worth noting that the steady RSI and bearish MACD signals lure the sellers to sneak in and break the stated bearish triangle’s bottom line, close to 0.6420 at the latest. In a case where the risk-barometer pair remains weak past 0.6420, it confirms the bearish chart pattern and can well refresh the yearly low, currently the August 13 bottom of around 0.6360. On the other hand, an upside clearance of the previously stated triangle’s top line, near 0.6530, could unleash the AUDUSD buyers. Following that, a downward-sloping resistance line from mid-July around 0.6600 will precede a five-week-old horizontal resistance zone surrounding 0.6625 to test the upside momentum. In a case where the Aussie pair buyers keep the reins, backed by the hawkish RBA actions or signals, the odds of witnessing a run-up toward July’s peak of around 0.6900 can’t be ruled out. Overall, AUDUSD bulls run out of steam but the bears need approval from the RBA and the triangle breakdown.
by MTradingGlobal