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AUDUSD_ZERO trade ideas

AUDUSD bulls are all set to visit the 0.7000 thresholdOn Friday, AUDUSD offered the first daily closing beyond the 200-DMA, as well as a downward-sloping trend line from June, despite an upbeat US jobs report. The upside momentum recently crossed multiple hurdles surrounding the 0.6900 threshold, as well as the tops marked during early September 2022 near 0.6915, which in turn suggests the pair’s run-up towards the 0.7000 psychological magnet. In a case where the Aussie bulls keep the reins past 0.7000, a run-up towards the August 2022 peak around 0.7135 can’t be ruled out. Alternatively, sellers need to wait for a clear downside break of the resistance-turned-support line from June, close to 0.6830 at the latest. Even so, a two-month-old ascending support line, near 0.6730, could probe the AUDUSD bears before giving them control. In a case where the Aussie pair remains weak past 0.6730, the lows marked during December and the mid-November, close to 0.6630 and 0.6585 in that order, should lure the sellers. Overall, AUDUSD is ready for further upside towards the 0.7000 psychological magnet.
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