Aud-usd
AUDUSD, H4 | Reversal off multi-swing high resistancePrice seems to be approaching a major resistance at 0.6811 which has seen multiple reversals in the past. A reversal from here could see prices being pushed down to 0.6730 which is a 23.6% Fiboancci retracement and our first support.
What is worth taking note is that NZDUSD is also approaching a major resistance and could see a reversal soon too. Our bearish view on AUDUSD, being positively correlated with NZDUSD, is in line with this drop.
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AUDUSD to turnaround at resistance?AUDUSD - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
We look to Sell at 0.6800 (stop at 0.6830)
Our profit targets will be 0.6720 and 0.6700
Resistance: 0.6810 / 0.6890 / 0.7010
Support: 0.6725 / 0.6620 / 0.6460
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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67800 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 0.67800 support and resistance zone.
Trade safe, Joe.
AUD USD - FUNDAMENTAL ANALYSIS2023-2024 Exchange Rate Forecasts From MUFG
Growth Concerns hamper Commodity Currencies
MUFG notes important uncertainty over the outlook for Reserve Bank of Australia (RBA) policy.
On balance it expects that the RBA will not hike rates again.
As far as the currency is concerned, it adds; “We continue to see AUD/USD moving higher but assume underperformance relative to core G10 as growth globally and in Australia remains challenging.”
MUFG notes that the government and Reserve Bank of New Zealand have revised their GDP forecasts and no longer expect a recession, but is doubtful whether the upgrade is justified.
It adds; “These conditions imply the government and the RBNZ’s GDP forecasts could be unrealistic. NZD/USD gains as the dollar weakens could be curtailed as aggressive monetary tightening hits growth.”
MUFG expects that weaker risk conditions will hamper the Canadian dollar with forecasts of USD/CAD declines based on US weakness rather than Canadian currency gains.
Further Upside for the AUDUSDThe RBA surprised markets by hiking rates 25bps, taking interest rates in Australia to 4.1%.
This decision saw the AUDUSD rise steadily from the 0.66 price level up toward the 0.67 resistance level.
As the price maintains above the bullish ichimoku cloud and the 200MA signals further upside potential, look for the AUDUSD to break above the 0.67 resistance level to trade up toward the next resistance and round number level of 0.68.
This move higher would need to be supported by further weakness in the DXY (checkout DXY analysis in the link)
AUDUSD Potential Forecast | 6th June 2023 Fundamental Backdrop
RBA hike rates by 0.25bps today, resulting in strong bullish momentum.
RBA hiking rates highlights the stubborn level of inflation that AUD faces.
Technical Confluences
Near term resistance level at 0.67066 where price can potentially react to.
0.67066 will serve as a point of target.
Idea
Will wait for retracement before entering onto longs.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66500 zone, AUDUSD was trading in an uptrend and successfully managed to break it out, currently we are waiting for a potential retrace of the trend towards more lows.
Trade safe, Joe.
AUDUSD Weekly Forecast CashRate | 4th June 2023Fundamental Backdrop
RBA Gov Lowe mentioned "Very Much in Data-Dependent Mode on Interest Rates", "Monetary Policy in Restrictive Territory"
This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates
CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can lead to an increase in interest rates.
Cash Rate on Tuesday expected to maintain at 3.85%
Technical Confluences
Near-term resistance level at 0.66196
Next resistance at 0.67860
Near-term support level at 0.65220
Idea
If the RBA chooses to maintain its cash rate at 3.85% on Tuesday, we could see the AUD drop towards the near-term support at 0.65220.
However, if the unexpected occurs and the RBA chooses to increase its interest rates, we could see the price rise above the near-term resistance level at 0.66196, before heading towards the next resistance at 0.67860.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Potential turning point for Audusd
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AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67000 zone, AUDUSD is trading in a downtrend and currently sees to be in a correction phase in which it is approaching the major trend at 0.67000 support and resistance zone.
Trade safe, Joe.
AUDUSD New bullish leg started inside the Channel DownAUDUSD made today the first strong green (1d) candle in a long time as it touched and rebounded at the bottom of the Channel Down.
This is the new bullish leg that should aim to fill the new Lower High.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 0.67000 (3.70% rise from the bottom as the previous bullish leg).
Tips:
1. The RSI (1d) crossed above its MA line, same with March 13th. That was a day after the bottom of the Channel Down at the time and the start of the new bullish leg.
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Notes:
Past trading plan:
AUDUSD Bear FlagHey Traders. in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.65 zone, in above chart we have a breakout of AUDUSD bear flag pattern, currently we are waiting for a correction to see a potential retrace of the flag towards more lows.
Trade safe, Joe.
AUDUSD Channel Down approaching its bottom. Time your buy.The AUDUSD pair is trading within a Channel Down pattern since the February 14 High and currently is close to completing the Bearish Leg to the new Lower Low. Our target is 0.64000, just above Support 1, where we will turn bullish again. The 1D RSI below 30.00 will be the ideal buy signal. The buy's target will be 0.66250, always below the 1D MA100 (green trend-line).
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AUDUSD SELL | CPI, RBA Gov Lowe speaks | 31st May 2023Fundamental Backdrop
RBA Gov Lowe spoke today
He mentioned "Very Much in Data-Dependent Mode on Interest Rates", "
"Monetary Policy in Restrictive Territory"
This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates
CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can lead to the increase in interest rates.
Technical Confluences
Near-term resistance level at 0.65100
Near-term support level at 0.64150
Idea
Today's speech by RBA Gov Lowe indicates towards raising more interest rates in the future.
Based on previous data whenever the RBA raises interest rates, the AUD rises a few days before it drops.
We could see the AUD head towards the next support level at 0.64150 if interest rates are raised on 6th June.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Looking for AUDUSD rallies.AUDUSD - 24h expiry
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 0.6490.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 0.6560 level.
We look to Sell at 0.6550 (stop at 0.6575)
Our profit targets will be 0.6490 and 0.6470
Resistance: 0.6550 / 0.6665 / 0.6780
Support: 0.6380 / 0.6170 / 0.5900
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUDUSD correction time; RSI/BBAND/STOCH/HAIKEN ASHIInstructions:
1)The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal.
2) Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone.
3) The Forex Stochastic Oscillator (Stoch) helps identify buy and sell moments based on comparing the current price with the price range over a specific time frame.
4) In addition, I use Heiken Ashi candles, which help to see the trend in a smoother and smoother way.
Intervals:
D1:
1) RSI under level 30
2) Price bounced off the Bollinger band
3) Stoch under level 30 and green line (buy) is dominating
4) Haiken Ashi still red so we can wait
H4:
1) RSI under level 30
2) Price bounced off the Bollinger band
3) Stoch under level 30 and green line (buy) is dominating
4) Haiken Ashi green candle is building
H1:
Conclusions:
Based on the analysis of the RSI, Bollinger Bands, Stoch and the Heiken Ashi candles, it appears that the AUDUSD asset may be at a turning point.
Stop Lose:
Under the top of the Bollinger Band +10/15pips. SL will be set at break even after a 10/15pips gain.
aud/usdWe are closely observing the AUDUSD pair for a potential selling opportunity within the 0.66600 zone. As AUDUSD continues to trade in a downward direction, it is presently undergoing a correction phase, gradually nearing the crucial trendline at the 0.666 level, which acts as both a support and resistance area.
A SELL TRADE SETUP ON AUDUSDHey Traders,
Check this analysis on AUDUSD out.
The pair just broke below the daily support zone and now i am anticipating for a 50% to 61.8% correction touching the supply area for a nice and smooth sell opportunity.
Provided that DXY remain strong.
Keep a close tab on this as well.