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Audusdsignal

AUDUSD | New perspectiveThe Aussie staged a rebound on Friday in tandem with other recently hard-hit risk assets, though remains on course for a possible retracement into the major bearish trendline identified on the daily timeframe. Therefore, we are bound to witness two possibilities in the new week as I expect selling opportunities at around 0.705/0.71750 and below the key level at 0.69150 which also welcome a possible counter-trend where buyers could accumulate right above the key level to complete a retracement phase. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
by darcsherry
AUDUSDThe Australian dollar broke through significant support during the week, and it looks to me as if we are more likely than not going to go lower. Keep in mind that the Australian dollar is highly sensitive to commodity markets, and therefore global growth. The 0.70 level above should offer resistance as it has been that massive support we have been paying attention to. Because of this, I will be looking for signs of exhaustion anywhere near that area. On the downside, the 0.68 level is an area that could offer a little bit of support.
Short
by SmoothJB
AudUsd- 0.7000-0.7050 is very strong ceiling nowLike all Usd pairs, AudUsd also has lost a lot of its value in the past 6 weeks( almost 10%). After reaching a strong resistance above 0.76 at the beginning of April, the pair fell hard and the recovery from the beginning of May was also met with strong selling from 0.73 resistance. Yesterday's test of 0.7+ was reversed hard leaving a very long-tailed Pin Bar on our daily chart and now the pair seems determined for further losses. I'm strongly bearish as long as the price is under 0.7050 and I expect a drop to 0.67 Sell rallies can be a good strategy in AudUsd's case
Short
by Mihai_Iacob
AUDUSDI wrote in my previous piece on this currency pair on 27th April that the price was still making lower lows and lower highs, which suggested the medium-term bearish trend was still in force. Therefore, I was looking for a bearish reversal at 0.7235, which would present an attractive short trade entry point. I was correct about the primary direction of the day, as the price fell over the day and reached as low as the support level which I had identified at 0.7082 shortly before the Tokyo close, but the price gave a nice short-term long trade from that level when it was reached, signaling its intention to move higher with a bullish pin bar on the hourly chart. The price now is back where it was one week ago. The RBA just announced a 0.25% rate hike which some analysts had been expecting, but which surprised many who had been expecting a hike of only 0.15%. This caused a short-term bullish price spike of approximately 1%, but this quickly ended within 45 minutes, with the price retracing back to its consolidation area just above the nearest support level at 0.7082. It seems clear that this support level at 0.7082 is going to be today’s pivotal point. The price is clearly within a long-term bearish trend, so the highest probability setup that might emerge today would probably be a short trade entry following the price getting established below 0.7082. This would likely trigger a further fall to the 0.7006 area which could be strong long-term support. On the other hand, if 0.7082 holds as support, we will probably see the price rise over the short term.
by SmoothJB