AUD/USD see knee-jerk dips below 0.75 handle to hit lows of 0.7480 after the RBA cut rates by 25 bps as expected.
The cut was largely priced in wake of dwindling economic growth, mixed labour market and rising AUD.
The pair has quickly reversed the dip to trade around 0.7520 levels, finds stiff resistance at 1H 20-SMA at 0.7550.
Intraday bias is lower, we see...
Due to AUD currently being one of the weakest performing currencies and also along with that a highly expected rate cut by the RBA I am shorting AUDUSD for about 310pips.
Watching price action closely as it can skyrocket at any point.
Shorting the pair currently and hoping to get to 50% retracement
Don't think pair will hit 0.76800 in 1 impulse move, expecting another correction some where along 1.272
1.618 and then another move up hopefully!
Long term outlook very bleak for the once relatively strong AUD.
It's been a tough two years on the Australian currency. With a very wobbly gold price dictating the nerves and a phenomenally crucial period of USD relative strength the AUD is suffering without a doubt.
Using a simple fib based regression trend analysis along with a modified pitchfork that ties...
Hello Traders,
We have an opportunity to go long on this pair @Market
Price has rejected this area previously and we are entering the oversold region on RSI.
Target 1 @ 0.7530
Target 2 @ 0.7587
SL @ 0.7374
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Linking To the Gartley on the Daily chart, Bearish Bat has formed and been respected on the 15min, hopefully inficating the direction of price, reinforcing the prediction on the daily chart
Any thoughts/ Criticisms??
AUD/USD showing a Bullish Gartley Pattern on Daily chart, bouncing off the .618 and.786 marks, expecting a retrace to around the area where D is.
Any Thoughts/Criticisms?
RBA minutes released, AUD/USD slumps despite no hint of August easing.
Minutes highlighted the central bank policy is not on a preset course and reiterated the data dependency of the central bank.
AUD/USD hit a new 10-day low of 0.7509 before recovering slightly to currently trade at 0.7530 levels.
Technically indicators have turned bearish. RSI points south...
AUD/USD is trading a narrow range in the Asian session, Doji formation seen on daily charts.
The pair is trading a rising channel and price action has bounced of channel base support at 0.7575.
Momentum studies are bullish, RSI strength seen at 57, and MACD is well above zero mark.
Upside finds immediate resistance at 0.7605 (5-DMA), break above could see...
Bat pattern forming on 1 hourly according the main rules for harmonic patterns .
ENTRY =>0.75029
TARGET 1 => 0.76111
TARGET 2 => 0.75633
STOP/LOSS => 0.74643
Aussie rally stalls at 0.7658 levels, pair has slipped from highs and is currently struggling at the 0.76 handle.
We see strong trendline support at 0.7585 levels, further weakness only on break below.
Downside could then test 0.7571 (61.8% Fib), further weakness could take the pair to 0.7530 (July 12 lows).
On the upside, resistance aligned at 0.7658 (July 12...
