🔍 AUD/USD Daily Chart Analysis – March 9, 2025
Key Observations:
Ascending Channel 📈
The price is moving within an upward channel, indicating a short-term bullish trend.
Support & Resistance Zones 🟦🟥
Support: Around 0.6231 - 0.6200 (blue zone). A breakdown below this could push the price lower toward 0.6129 (orange zone).
Resistance: The 0.6460 - 0.6584 level is the next major hurdle for bulls.
200-Day Moving Average (Red Line) 🔴
The price is currently below the 200-MA, indicating a long-term bearish sentiment. However, a breakout above this level could signal a trend reversal.
Potential Scenarios 📊
✅ Bullish Case: If the price sustains above 0.6231, we could see a bounce towards 0.6460 - 0.6584 in the coming weeks.
❌ Bearish Case: A break below 0.6231 could push the price toward the 0.6129 - 0.6100 region before finding support.
Trade Plan 🎯
Buy Zone: Around 0.6231 with a stop-loss below 0.6200.
Sell Zone: If price rejects 0.6460, a short position could be considered with a stop above 0.6584.
📊 Conclusion: AUD/USD is at a key decision point. Bulls need to hold support for further upside. A breakdown could trigger a bearish move.
Key Observations:
Ascending Channel 📈
The price is moving within an upward channel, indicating a short-term bullish trend.
Support & Resistance Zones 🟦🟥
Support: Around 0.6231 - 0.6200 (blue zone). A breakdown below this could push the price lower toward 0.6129 (orange zone).
Resistance: The 0.6460 - 0.6584 level is the next major hurdle for bulls.
200-Day Moving Average (Red Line) 🔴
The price is currently below the 200-MA, indicating a long-term bearish sentiment. However, a breakout above this level could signal a trend reversal.
Potential Scenarios 📊
✅ Bullish Case: If the price sustains above 0.6231, we could see a bounce towards 0.6460 - 0.6584 in the coming weeks.
❌ Bearish Case: A break below 0.6231 could push the price toward the 0.6129 - 0.6100 region before finding support.
Trade Plan 🎯
Buy Zone: Around 0.6231 with a stop-loss below 0.6200.
Sell Zone: If price rejects 0.6460, a short position could be considered with a stop above 0.6584.
📊 Conclusion: AUD/USD is at a key decision point. Bulls need to hold support for further upside. A breakdown could trigger a bearish move.
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.