Today in the New York and London sessions AUDUSD fell heavily to lows of 0.69109 showing heavy sell volatility on the BB and KC Indicators. Furthermore RSI fell to oversold levels on the 4 hour chart. Already the latest 4 hour candle has shown a good buy here for a short term buy against the US dollar, which in turn might head into a period of retracement. With the entry price of 0.69380 area it should be possible to exit above 0 69700 and potentially beyond. At this time you can go to a lower timeframe such as the 15 minute chart and look for an oversold entry to get a better price. From a daily chart perspective AUDUSD has been moving under the 200 day simple moving average. But from a 4 hour perspective recently price has bounced off the 200 day SMA. The Aussie has also bounced off the 50 daily sma today during the early Asian session. This might further signal that AUDUSD can move higher today.
Today Australian Employment Change data will be released: (forecasted: 25.0K Previous: 88.4K). From this expected data sentiment we can analyze that analysts have taken a bearish stance on the Aussie, but that might not be the case for investors today.AAUD/USD
Today Australian Employment Change data will be released: (forecasted: 25.0K Previous: 88.4K). From this expected data sentiment we can analyze that analysts have taken a bearish stance on the Aussie, but that might not be the case for investors today.AAUD/USD
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.
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.