AUDUSD- Weekly Outlook
Buying Dips in front of 0.6540 (stop at 0.6500)
Prices traded lower on a dovish RBA meeting early today, and a risk-off sentiment pushing stocks and risk-sensitive assets, such as AUD, lower. Investors are eyeing high-impact US events today, ISM Services PMI and JOLTS Job openings.
The broad bias is bullish, as prices printed a bottom in October and trended higher in November. Technical indicators from wide time frames support the bullish direction, while intraday charts support the temporary correction.
I plan to fade the dip, buying at cluster support of a previously broken barrier, monthly pivot point, and the weekly ATR range
Our profit target is 0.6620 and 0.6670
Resistance: 0.6580 / 0.6620 / 0.6670
Support: 0.6540 / 0.6500 / 0.6450
Buying Dips in front of 0.6540 (stop at 0.6500)
Prices traded lower on a dovish RBA meeting early today, and a risk-off sentiment pushing stocks and risk-sensitive assets, such as AUD, lower. Investors are eyeing high-impact US events today, ISM Services PMI and JOLTS Job openings.
The broad bias is bullish, as prices printed a bottom in October and trended higher in November. Technical indicators from wide time frames support the bullish direction, while intraday charts support the temporary correction.
I plan to fade the dip, buying at cluster support of a previously broken barrier, monthly pivot point, and the weekly ATR range
Our profit target is 0.6620 and 0.6670
Resistance: 0.6580 / 0.6620 / 0.6670
Support: 0.6540 / 0.6500 / 0.6450
Note
AUDUSD has traede to 0.6540
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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.
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.