Short

AUD/USD Technical Analysis: Touch 0.7100 Then Bearish Mood ...

By Saleh11

Updated

AUD/USD is currently trading at session highs above 0.7055, having neutralized the immediate bearish view with a 0.30 percent gain on Friday.
The bullish doji reversal confirmed on Friday has opened up upside towards at 0.7100. On the Other hand, If Chinese Manufacturing and Non-Manufacturing PMI drop major support 0.7000/0.6990 could test again. Audusd Sell level 0.7150 Area target 0.7010 Area. A break of 0.7075 resistance can lead to 0.7100 to the upside.However, if 0.7075 caps prices, it can lead to a decline to 0.7025 immediate support followed by 0.6990 level.
AUDUSD faces recovery threats though vulnerable medium term. On the upside, resistance lies at the 1.7100 level. A cut through here will turn attention to the 0.7150 level and then the 0.7200 level where a violation will set the stage for a retarget of the 0.7250 level. Support resides at the 0.7000 level where a breach will aim at the 0.6950 level. Below here will set the stage for a run at the 0.6900 level with a cut through here targeting further downside pressure towards the 0.6850 level.

News:
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Meanwhile, U.S. numbers impressed late last week, as the U.S. dollar made broad gains. Durable goods orders climbed 2.7%, crushing the estimate of 0.7%. Core durable goods orders gained 0.4%, marking a 9-month high. This was followed by an initial GDP release of 3.2% in Q1, well above the estimate of 2.2%. This was much stronger than Final GDP for Q4, which came in at 2.2%.

AUD/USD Fundamentals:

Monday (April 29)

8:30 (Feb. Data) – US Core PCE Price Index. Estimate 0.2%
8:30 US Core PCE Price Index. Estimate 0.1%
8:30 (Feb. Data) – US Personal Spending. Estimate 0.2%
8:30 US Personal Spending. Estimate 0.7%
8:30 US Personal Income. Estimate 0.4%
21:00 Chinese Manufacturing PMI. Estimate 50.7
21:30 Australian Private Sector Credit. Estimate 0.3%

Tuesday (April 30)

8:30 US Employment Cost Index. Estimate 0.7%
9:45 US Chicago PMI. Estimate 59.1
10:00 US CB Consumer Confidence. Estimate 126.2
18:30 Australian AIG Manufacturing Index

Daily SMA100 0.7123
Daily SMA200 0.718
Previous Weekly High 0.7155
Previous Weekly Low 0.6988
Previous Monthly High 0.7168
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7039
Daily Fibonacci 61.8% 0.7025

Note

1. AUD/USD' 4-hour line chart is reporting a bear flag breakdown.
2. The Aussie dollar risks falling back to recent lows below 0.70.

Trend: Bearish
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Note

News:
1. Talking differently in the statement and press conference. Regarding the statement dovish, there are some changes in the policy. Auditors are far more impartant than Paresh Conference.
2. The audit raid can not be prevented after the deal is done. Due to this tariff, dropping audio is Hughes. If 50% of the recovers, 0,200 will go to InshaAllah.
**Audusd buy 0.7010 Area Takeprofit 0.7100 / 0.7180 Are.

Note

**Earning is expected more than ever, it does not look good either way. Very rarely, Arnig and NFP two come together better.
**Erning is a good hope because NFP will drop earlier than expected. If the Fed rate is in incremental mode, then the Arnie Impertant becomes more than NFP. But the Fed is not in the rate raising mode. So NFP will respond to the market.
**In this case, the dollar index quarantine resistance is more than the number of people to dropping again.

Note

Chinese-American Tariff Confirm By the way, the cell de facto, and even if it is impossible to come to 0.6800.

Saleh11

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