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U.S. Dollar / Australian Dollar

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USDAUD trade ideas

AUDUSD teases bullish triangle breakout around 0.7500Upbeat sentiment helps AUDUSD bulls to battle the key upside hurdle around July highs. The buyers are likely to gain from a firmer RSI line, not overbought, as well as bullish MACD signals but 20-SMA and the upper line of the weekly falling triangle’s resistance line, near 0.7500. In a case where the quote rises past 0.7500, the recent top near 0.7545 and the late June’s swing high near 0.7620 should lure the buyers. Meanwhile, an ascending support line from October 10 precedes the stated triangle’s support line, respectively around 0.7470 and 0.7450, to restrict short-term AUDUSD declines. In a case where the Aussie pair drops below 0.7450, the 0.7400 threshold and October 18 low near 0.7380 should return to the chart. Overall, AUDUSD remains on the front foot but a pullback can’t be ruled out.
Long
by MTradingGlobal
AUDUSD: Inverse H&S with Leading diagonal with Third waveAfter falling near the level of 0.74800 AUDUSD has found its bottom near the level of 0.717000. If we observe carefully we can see an inverse Head & Shoulder pattern whose neckline has been broken decisively in today's session. From the perspective of Elliottwave analysis , we can see a Leading Diagonal & a three wave correction followed by a rally above the neckline. It clearly suggest that AUDUSD is rising in its third wave of an impulse 12345. The measured target of the Inverse H&S is coming about to be near the zone of 0.74200-0.74400 which can also be treated as a target for wave 3 . Trading strategy: As long as AUDUSD is maintaining above the level of 0.72270 , one should look for buying opportunity on any minor dip or on cmp for the target zone of 0.74100-0.74400.
Long
by TradingSutra
2
AUDUSD Trading Idea 8 Oct 2021I think the overall market is in the downtrend, one should look for the selling opportunity. In my personal opinion, Price gave a moderate rejection at the resistance starting to form a hanging man or bearish close or whatever may be the case at 4 hr time frame. If the candle closes around 0.72925 level then you can take a sell entry to put a stop loss at 0.74033. I am bearish with this trade. A possible profit target can be around 0.72310 or somewhere around.
Short
by puneetbhardwaj90
AUDUSD drops back below 20-DMA on RBA dayAlthough the Reserve Bank of Australia (RBA) matched wide forecasts of inaction on early Tuesday, the Aussie central bank’s concerns over economic growth, due to the pandemic-led local lockdowns, weigh on the AUD/USD prices. Also challenging the quote buyers are the headlines from China and concerning the US stimulus, as well as debt ceiling extension. That said, the pullback from 20-DMA offers a selling opportunity with the 0.7220 acting as an immediate target ahead of six-week-old horizontal support near 0.7165-55. However, any further downside will be challenged by RSI conditions, which if ignored could refresh the yearly bottom that currency stands near the 0.7100 mark. Meanwhile, an upside clearance of 20-DMA level of 0.7281 isn’t a green pass for the bull’s entry as a horizontal line from late July adds to the upside filters around 0.7320. It should be noted, however, that a clear run-up beyond 0.7320 enables the buyers to aim for a 61.8% Fibonacci retracement level near 0.7410 before highlighting the September month’s peak around 0.7480. Overall, AUD/USD remains in the bearish trajectory unless crossing the 0.7480 hurdle.
Short
by MTradingGlobal
AUDUSDAs I said last weeks ...as I said AU is in a very strong area where it has been in range for a few weeks ... but as long as it is on the trend line , I will keep the SELL idea until the 0.74990 area and from there ... I will reanalyze! THIS WEEK...as I was saying since April 2021 ... AUDUSD went down and made the 800 pips we were talking about, reaching the 2nd target where it rejected strongly! (see red line) in the next period I expect to see a range between zone 1 and zone 2 and only a closure even for 1 day below these zones will make me rethink the whole strategy! now I will wait to touch one of these areas and then I will decide an entry with BUY or SELL NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: Our analyzes have an accuracy of over 92% in the last 5 months We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market. *This information is not a Financial Advice.
by BloomFX_SIGNALS