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U.S. Dollar / Australian Dollar

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USDAUD trade ideas

💡Don't miss the great sell opportunity in AUDUSD Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (0.7598). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDUSD is in a downtrend, and the continuation of the downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 44. Take Profits: TP1= @ 0.7564 TP2= @ 0.7537 TP3= @ 0.7510 TP4= @ 0.7493 TP5= @ 0.7472 SL: Break Above R2 ❤️ 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 ❤️
Short
by ForecastCity_ME
7
💡Don't miss the great sell opportunity in AUDUSD Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (0.7562). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDUSD is in a downtrend, and the continuation of the downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 37. Take Profits: TP1= @ 0.7402 TP2= @ 0.7245 TP3= @ 0.7004 TP4= @ 0.6853 TP5= @ 0.6673 SL: Break Above R2 ❤️ 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 ❤️
Short
by ForecastCity_ME
4
AUDUSD bulls return from 0.7730-25 support confluence AUDUSD reverses the previous day’s losses while a bounce off 50-day and 100-day SMA confluence near 0.7730-25. Given the normal RSI conditions and strong support, the quote is expected to keep the recovery moves while trying to cross the key resistance line, around 0.7770, for one more time. While a clear break above 0.7770 enables the buyers to aim for 0.7815, any further upside will need to cross the 0.7820 hurdle to direct the bullish impulse towards May’s top near 0.7890. On the contrary, a downside break of 0.7725 will aim for a 0.7675 level, comprising early April highs and May’s lows. It should, however, be noted that a clear south-run past 0.7675 won’t hesitate to refresh the monthly bottom below 0.7644. In the case where the AUDUSD remains bearish below 0.7644, which is less likely, 0.7585 and April’s low close to 0.7530 should gain the market’s attention.
Long
by MTradingGlobal
AUD dips as Australian GDP slowsThe Australian dollar has reversed directions and is in negative territory on Wednesday. In the European session, AUD/USD is trading at 0.7724, down 0.36% on the day. Australia's economy rose 1.8% (QoQ) in the first quarter of the year, down from 3.2% in Q4. This was above the consensus of 1.5%. The level of economic activity currently is 0.8% above the fourth quarter 2019 pre-pandemic level, as the recovery continues to deepen. On an annual basis, GDP climbed 1.1%, rebounding from the -1.0% read in Q4. The solid growth in Q1 reflects the continuing easing of health restrictions and the recovery in the employment market. Still, the positive numbers failed to impress investors, as the Australian dollar is down considerably in Thursday trade. The market will get another snapshot of the strength of the economy on Thursday, with the release of Retail Sales (1:30 GMT). In March, Retail Sales climbed 1.1%, and an identical gain is projected for April. As well, the country's trade balance is expected to widen to AUD7.90 billion, up from AUD5.57 billion. The RBA did not make any waves at its monthly policy meeting on Wednesday, as the bank maintained its policy settings. There is some unfinished business on the plate of RBA policymakers, as the bank will decide in July whether to implement further QE. The RBA statement did not provide any clues as to what the RBA is planning to do come July. The statement noted that “despite the strong recovery in the economy and jobs, inflation and wage pressures are subdued" and added a typical message that the bank is "committed to maintaining highly supportive monetary conditions". Any hints from the RBA about QE could have a significant effect on the movement of the Australian dollar. On the upside, 0.7727 is under pressure. Above, there is resistance at 0.7777. There are support levels at 0.7658 and 0.7608
by OANDA
AUDUSD eases from key hurdle after RBA, US PMI eyedAUDUSD bulls step back from a convergence of a three-week-old resistance line and 100-SMA following RBA’s hints to July action. The Aussie pair drops to 0.7735 before the European session amid cautious sentiment ahead of the US ISM Manufacturing PMI for May, expected to remain unchanged near 60.7 level. In addition to the 0.7760-65 resistance confluence, a six-week-old horizontal resistance near 0.7815-20 becomes the key hurdle that holds the gate for AUDUSD bulls. Meanwhile, the latest pullback eyes the 0.7700 round-figure before highlighting a two-month-long support region near 0.7670. Though, the pair’s weakness past 0.7670 will make it vulnerable to drop towards 0.7585 and April lows near 0.7540. Overall, AUDUSD consolidates April-May gains between 0.7670 and 0.7820 area.
Short
by MTradingGlobal