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U.S. Dollar / Australian Dollar

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USDAUD trade ideas

AUDUSD buyers can ignore Monday’s bearish spinning topWith the US House backing President Donald Trump’s demand for a $2,000 paycheck, AUDUSD remains positive amid a risk-on mood. The pair failed to justify Trump's signing of the coronavirus (COVID-19) aid package the previous day amid fears that the Senate will turn down his push during the last days in the White House. While Monday’s downbeat performance printed a bearish spinning top on the daily chart, the pair’s ability to stay beyond an upward sloping trend line from November 23 and 21-day SMA confluence, around 0.7500, keeps the AUDUSD buyers hopeful. Also favoring the upside momentum could be the bullish MACD and an absence of the overbought RSI. That said, a short-term falling resistance guards immediate upside around 0.7620 while the monthly top near 0.7640 can probe the optimists afterward. On the contrary, AUDUSD weakness past-0.7500 can trigger a gradual downpour targeting the early- November top near 0.7340. Though, the December 02 high near 0.7450 and the 0.7400 round-figure can offer intermediate halts during the fall. In a case where the AUDUSD bears dominate past-0.7340, 0.7300 and 0.7220 may restrict the fall en-route November bottom close to 0.6990.
Long
by MTradingGlobal
💡 Don't miss the great sell opportunity in AUDUSDTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.755). 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 downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 40. Take Profits: TP1= @ 0.7460 TP2= @ 0.7420 TP3= @ 0.7370 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 trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
4
💡 Don't miss the great sell opportunity in AUDUSDTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.756). 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 downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 40. Take Profits: TP1= @ 0.7500 TP2= @ 0.7485 TP3= @ 0.7450 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 trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
5