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Audusdanalysis

AUDUSD Signals Potential Intraday downside moveHello Traders, Here is my intraday technical outlook of AUDUSD. Long term On the H4 time frame, a big inverted head and shoulders pattern is seen, indicating a potential long term bullishness. Short term AUDUSD has displayed interesting price action, indicating potential bearish momentum in the near term. Here's a breakdown of the short term analysis: 1. Intraday Consolidation and Sign of Weakness : AUDUSD experienced a period of consolidation around 0.68956 -0.68705, suggesting indecision in the market. However, signs of weakness emerged during this phase, indicating that sellers might have been gaining control. 2. Rally Without Strength and Failed Resistance Test : Despite the consolidation, the pair attempted to rally to the upside. However, the rally lacked conviction and failed to reach the resistance zone, signaling a lack of buying power. As a result, sellers took the opportunity to overpower the buyers, leading to the establishment of a crucial supply level. 3. Break of Support Zone : The bears succeeded in breaking below the significant support zone located around 0.68496. This breakout is a bearish signal, suggesting that sellers are gaining control of the market. Considering the analysis, the outlook for AUDUSD leans towards a potential further decline to the 0.68040. Traders should keep a close eye on price action, especially during the retest of the broken support. If the retest confirms the newfound resistance, it would add more credibility to the bearish scenario. Cheers and happy trading.
Short
by Samuel124
4
AudUsd in strong supportAfter the double bottom in the important support area at 0.66, AudUsd has risen strongly and reached 0.69 resistance given by the previous high. At this moment the pair is rolling back down in a normal correction and this could offer bulls nice buying opportunities in anticipation of an up continuation. At the time of writing AudUsd is trading exactly in the old resistance of the range which should provide support now and I'm looking for reversal signs.
Long
by Mihai_Iacob
3
AUDUSD might pumping after correctionSeveral weeks ago I expect it will going down retrace to price 64¢ but it didn't, it was pumping from 65¢ and broke the strong resistance swing high at 68¢, after that correction to strong support at 66¢ before it pumping hard again to test that 69¢, but unfortunately not yet touched. Usually when the price doesn't touched particular strong round number (almost touch 1-3 pips), once again when it comes to that price, it will break the price like it was nothing (long bullish/bearish candle close above/below the strong price). Actualy I had sell limit at 69¢ several weeks ago but the price didn't take my sell order (missed less than 2 pips). Now the market structure is clear, bull domination. Usually price will spike to 60-70 pips before it going in favor (downward). I expect will correction to 67¢ for buy opportunity to test the new resistance at 69¢ (200 pips). It was consolidating 100 pips between 66¢ (minor support) and 67¢ (minor resistance) for 10 days before it pumping hard broke the 67¢ after USD high impact news released (CPI data) and this mean this (67¢) is strong demand on daily or weekly chart (spot the move without change to daily or weekly chart). I'll looking the price to build minor structure on smaller timeframe such as H1 before take consideration to sell for corrective moves. What do you guys think?
Long
by UnknownUnicorn33119711
AUDUSD Long OpportunityAUDUSD is on a bullish assault and is currently offering buys for the near-term Here is my rationale: Weekly: -we broke structure on the weekly to the upside recently, especially after a long time being both ranging and marginally bearish -we printed two strong wicks in the past two weeks to the downside, the last culminating into a hammer candle -this indicates that we have exhaustion after the strong retracement we experienced on the pair three weeks ago -the hammer gave a hint of bullish momentum stepping into the market -we are currently in the overall bullish continuation phase on this time frame H4: -we have broken structure to the upside and are, today, strongly pushing to the upside -we have had a clear bullish dominance in the market and I am seeking this momentum to carry on to the 0.69000 level, where the June high leveled out and is a potential source of liquidity if we are to shift direction to the downside Midrange (H1) -we are strongly bullish -the weekly high at 0.68830 and the June high at 0.69000 are strong levels of magnetism for the pair -I am seeking a buy at the 38.2%-50% fib retracement level, targeting 0.68800, right below the previous zone of supply where the pair took orders and dumped them all the way to 0.66000 at the close of June.
Long
by lovinmulika
1
AUDUSD Possible sell zone!!Currency Pair : AUDUSD Possible direction : Bearish Multiple-timeframe Analysis : Daily : Price has just tested the daily 20EMA and has broken toward downside forming a daily MIDDLE MAN which may continue to drop as long term trend is down Monthly: There is strong rejecjction from the resistance level. Weekly: Pirce already tested the weekly resistance level and rejected from upper wick of the weekly doji. 4H: Price currently is in pullback and may start dropping from 20EMA to merge with it's long term down trend Possible trade recommendation : Bearish as per chart sketch Press like button if you enjoy.
Short
by ForexWizard01
1
Who's Right? Hawk Economists vs. Dove Traders - RBA meets TodayYesterday, the AUD/USD experienced its third consecutive day of growth. However, the upward trend is expected to face obstacles during Tuesday's trading session due to the impending Reserve Bank of Australia meeting. Despite some analysts adopting a more hawkish stance and predicting a rate hike as the most likely outcome of today's meeting, money market traders have reduced their forecast to a one-in-three chance of an increase, down from 40 percent on Friday afternoon. Although inflation numbers in Australia have slowed down, the Consumer Price Index remains above the target range, while the key interest rate stands at 4.1 percent, below the CPI. Furthermore, recent remarks from RBA Governor Lowe have maintained a hawkish tone, leaving the possibility of further rate hikes open, even after two unexpected increases. As US markets remain closed in observance of Independence Day, the AUD/USD has been consolidating at 0.66700 prior to the RBA decision. With conflicting views from economists and traders, the meeting's outcome has the potential to inject some volatility into the pair. In terms of potential resistance levels, the initial zone to watch out for is around 0.66900, followed by 0.67200. However, it is important to note that considering the RSI's decline below the 60.00 level, the upward momentum has weakened. Nevertheless, the overall inclination remains biased towards the upside. Therefore, exploring higher levels may not be immediately feasible.
by BlackBull_Markets
AUD/USD could rebound if the RBA deliver a hawkish hikeAUD/USD retracted around -4.4% from the June high, and it appears we may have seen a swing low around 66c. The pullback found support around a volume cluster from the previous rally and formed a 3-day bullish reversal pattern (morning star reversal). Soft US inflation helped weigh on the US dollar, and an RBA hike tomorrow could send the Aussie higher. Money markets are pricing in ~23% chance of a hike, whilst economists are split 50/50 between a hike or a pause. I suspect money markets have priced it incorrectly once again, and the RBA are more likely to hike by another 25bp tomorrow. 4.1% is still low relative to the RBA’s peers, the BOE hiked by 50bp and the ECB, SNB and BOC all hiked by 25bp since the RBA’s last meeting. And the Fed continue to suggest two more hikes are coming. Sure, Australian inflation was lower than estimate, but remains nearly twice the upper range of the RBA’s target. And as this may be Lowe’s last meeting, he may feel obliged to back another rate hike tomorrow. AUD/USD has pulled back during Asian trade and is trying to build a base above Thursday's high. An initial move towards the 0.6720 high seems feasible, with a 25bp hike potentially seeing the Aussie extend it rally towards the 86c resistance zone.
Long
by CityIndex