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U.S. DOLLAR / AUSTRALIAN DOLLAR REFERENCE RATE

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AUDUSD seller’s return eyes sub-0.7000 levelsAUDUSD marked a notable U-turn from the 50-DMA by the end of the key week. As RSI and MACD conditions back the recent weakness, another south-run towards breaking the 0.7000 psychological magnet can’t be ruled out. However, a convergence of the downward sloping trend line from August and 61.8% FE level of June 2021 and January 2022 moves, near 0.6920, become strong support. If at all the bears keep reins past 0.6920, the 0.6900 threshold may test the further downside towards June 2020 swing lows surrounding 0.6780. Alternatively, 50-DMA level surrounding 0.7165 guards immediate recovery moves of the AUDUSD prices. Following that, the 0.7200 round figure and the 100-DMA level of 0.7250 will be important to watch. It’s worth noting, however, that the pair’s rebound remains elusive below the previous month’s top of 0.7315. On a fundamental side, China’s return from the Lunar New Year holidays highlight AUDUSD as a lot has happened in the last week and Beijing will need to react to the hawkish monetary policy signals by the major central bank.
by MTradingGlobal
AUD/USD - DAILY TIME FRAME - SWING TRADE - SELL SET UPPoints to consider for Sell Set up: Price has broken downwards from the DAILY BEARISH FLAG PATTERN. Price is currently retesting the break of the flag pattern and also the daily Break of Structure (BOS) price region/zone, which is also Golden zone of Daily Fib Retracement (61.8% to 78.6%) Price Rejection is observed on the Higher Time Frame (HTF) Inverted hammer candle/Pin bar seen on the 4Hour Time frame. BOS and retest observed on the 1H Time Frame. Note: Plan Your Trade and Trade as per Your Plan
Short
by parthpatel711
AUDUSD bulls eye short-term hurdle amid RBA playsAUDUSD bulls stay hopeful as the Reserve Bank of Australia (RBA) ends QE, despite posting initial losses due to rejection of the immediate rate hike concerns. The upside momentum ignores recently cautious RBA Governor Philip Lowe’s comments while staying above a three-week-old descending resistance line, near 0.7115. That said, the 50-DMA level around 0.7170 acts as an immediate barrier for the pair to cross before directing the bulls towards the last home of bears, namely the 100-DMA level close to 0.7260. Alternatively, pullback moves may initially aim for the 0.7000 threshold ahead of highlighting the lows marked in December 2021 and January 2022, respectively around 0.6990 and 0.6965. In a case where the AUDUSD bears keep reins past 0.6965, the 61.8% Fibonacci Expansion (FE) of mid-June 2021 to January 2022 moves, surrounding 0.6920, should gain the market’s attention. Overall, AUDUSD bulls are up for consolidating the early 2022 losses on hawkish RBA. However, the upside momentum needs caution as the US NFP is yet to play its role.
by MTradingGlobal
1
AUD/USD AnalysisThe AUD/USD has resumed its decline in Asia, despite surprised by the sharp rise in inflation data. “Underlying inflation accelerated to 1% quarter-on-quarter and 2.6% year-on-year in the fourth quarter. Quarterly trimmed inflation was at its highest level since the third quarter of 2008, with annual figures For the first time since mid-2014, we are above the center of the Reserve Bank of Australia's target range, ". "RBA will almost certainly need to adjust forward guidance to admit that rate hikes are possible this year. RBAs are likely to want wage growth to accelerate significantly. Therefore, it seems that the main argument is not to shift to a rate hike in 2022. However, it is possible to prove this faster than expected. " The AUD / USD has returned to the well-known conflict level around 0.7160, which has played both support and resistance roles since last September. Beyond this area, the 100-day simple moving average (SMA), which is the level at which the bulls struggled earlier this month, will be tested. Alternatively, 23.6% Fibonacci retracement seems likely to be the level of support after the daytime descent could not break Fibonacci.
by FiscalAutonomy
AUDUSD ANALYSIS ON H4 CHART.Overall, AUD/USD is ranging across. The Australian employment data released yesterday indicated a slowdown in jobs creation and unemployment rate continued to decline in December. Employment Change (Actual: 64.8K, Forecast: 60.0K, Previous: 366.1K) Unemployment Rate (Actual: 4.2%, Forecast: 4.5%, Previous: 4.6%) The Australian flash PMI data will be released next Monday at 0600 (GMT+8). Flash Manufacturing PMI (Forecast: NA, Previous: 57.7 revised from 57.4) Flash Services PMI (Forecast: NA, Previous: 55.1) Currently, AUD/USD is testing to break below the key level of 0.72. Its next support zone is at 0.71000 and the next resistance zone is at 0.73000. Look for short-term selling opportunities of AUD/USD if it breaks below the key level of 0.72.
Short
by charliedavies770