AUDUSD Potential DownsidesHey Traders, in the coming week we are monitoring AUDUSD for a selling opportunity around 0.66100 zone, AUDUSD was trading in an uptrend and successfully managed to break it out. currently AUDUSD is in a correction phase in which it is approaching the retrace area at 0.66100 support and resistance zone.
Trade safe, Joe.
Aud-usd
AUDUSD to find sellers at previous key level?AUDUSD - Intraday
Posted a Bullish Hammer Bottom on the 4-hour chart.
A higher correction is expected.
Short-term bias has turned negative.
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 0.6575 level.
We look to Sell at 0.6575 (stop at 0.6607)
Our profit targets will be 0.6495 and 0.6480
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: Approaching the Channel Down bottom.AUDUSD is on a strong 2 day sell streak below both the 1D MA50 and 1D MA200 but is approaching the bottom/ LL trendline of the six month Channel Down. The 1D time frame is technically bearish (RSI = 36.760, MACD = -0.003, ADX = 28.005) and the closer the 1D RSi gets to being oversold (30.000) the stronger the buy signal on the long term becomes.
As long as the 1D candles close inside the Channel Down, we are buying this weakness, targeting R1 initially (TP1 = 0.6800) and if we get a closing over it as well, then re-buy and target the top of the Channel Down (TP2 = 0.7000).
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Will AUDUSD react at previous swing low?AUDUSD - 24h expiry
We are trading at oversold extremes.
Price action looks to be forming a bottom.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at 0.6574.
We look to Buy at 0.6575 (stop at 0.6540)
Our profit targets will be 0.6665 and 0.6780
Resistance: 0.6665 / 0.6780 / 0.6925
Support: 0.6550 / 0.6380 / 0.6170
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 Weekly Forecast | 22nd May 2023Fundamental Backdrop
The Wage Price Index q/q maintained at 0.8% which shows that the economy has not improved.
Employment Change suffered significantly, dropping from 61.1k to -4.3k, which shows that consumer spending has been greatly reduced.
Unemployment Rate also increased from 3.5% to 3.7%, showing that overall economic health has detoriated.
Technical Confluences
Near-term resistance at 0.66940
Near-term support at 0.66360
Major support at 0.65950
Idea
This week with no major news events for AUD, we could see price continue bearish towards the major support at 0.65950.
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 Breakout and Potential retraceHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66400 zone, in above chart we have a breakout of AUDUSD trend below 0.66400 support and resistance area, currently we will be watching a potential retrace of the trend towards more lows.
Trade safe, Joe.
AUD USD - FUNDAMENTAL ANALYSISCommodity Currencies Still Vulnerable
Danske expects that tighter financial conditions and vulnerability in the global economy will tend to undermine commodity currencies.
As far as the Australian dollar is concerned it adds; “With the global growth backdrop remaining weak, recovery in Chinese manufacturing losing steam and metal prices declining, the outlook for AUD FX remains modestly negative.”
AUDUSD Sell Forecast | 18th May 2023Fundamental Backdrop
Employment Change dropped from 61.1K to -4.3k, far worst than the forecast of 24.8K. This shows that consumer spending has decreased leading to overall economic activity dropping.
Unemployment Rate increased from 3.5% to 3.7%, which shows overall economic health has weakened significantly
Technical Confluences
Near-term support at 0.66350
Next support at 0.65850
Idea
We could see the AUD drop towards the 0.65850 major support level by the end of the week.
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 to find buyers at 0.236 retracements?AUDUSD - 24h expiry
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 0.6629.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected although we prefer to buy into dips close to the 0.6630 level.
We look to Buy at 0.6632 (stop at 0.6602)
Our profit targets will be 0.6707 and 0.6727
Resistance: 0.6780 / 0.6925 / 0.7160
Support: 0.6550 / 0.6380 / 0.6170
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.
✨ NEW: AUDUSD ✨ Curve Analysis (3W) ✨SLO @ 0.7130 ⏳
TP4 @ 0.7115
TP3 @ 0.7033
TP2 @ 0.6925
TP1 @ 0.6750
BSO @ 0.6650 📈
BLO @ 0.6585
ADDITIONAL INFO:
* The pair is currently trading below the 200-day moving average, which is a bearish signal.
* The RSI is below 50, which is also a bearish signal.
* The MACD is crossing below the signal line, which is another bearish signal.
Based on these technical indicators, the outlook for AUDUSD is bearish and the pair could continue to decline and test the support level at 0.6565.
However, Price Action is currently reacting to a Major Support Level and heading upward. If the pair can break above the resistance level at 0.6783, the outlook would turn to bullish momentum.
Here are some of the factors that could affect the price of AUDUSD in the near future:
* The outcome of the upcoming US Federal Reserve meeting.
* The release of US economic data, such as GDP and unemployment figures.
* The development of the Russia-Ukraine war.
It is important to remember that technical analysis is only one tool that can be used to make trading decisions. It is important to also consider fundamental factors, such as economic data and political events, when making trading decisions.
AUDUSD Sell Forecast | 17th May 2023Fundamental Backdrop
Wage Price Index q/q maintained at 0.8% which shows that consumer inflation maintaining could lead the Central Bank to pause interest rates.
Tomorrow's employment Change is expected to drop by half and the Unemployment Rate is expected to remain the same, indicating a weakening economy.
Technical Confluences
Near-term support at 0.66350
Next support at 0.65850
Idea
We could see the AUD drop towards the 0.65850 major support level by the end of the week.
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.
AUD USD - FUNDAMENTAL ANALYSISAustralia: Jobs, wage data and RBA minutes on tap
Australia’s labor market data is out on Thursday and expected to show the addition of 25k jobs in April after 53k jobs added in March, with the unemployment and participation rates seen steady at 3.5% and 66.7% respectively. Just a day ahead of this release, we also get the Q1 wage price index which could be a key focus as RBA Governor Lowe emphasised the importance of the “evolution of labor costs” to justify the recent increase in the cash rate. A big upside surprise in wage and labor data could continue to suggest a tight job market in Australia, and bring back “sticky” inflation concerns which could be a tricky situation for the RBA and potentially mean more downside for the AUDUSD which has broken below the 50DMA. RBA minutes from the May meeting are also out on Tuesday.
AUDUSD Buy short termAUDUSD is inside a Channel Up with the 1day MA100 on its top and the 1day MA50 in the middle.
Buy on the short term and target the Channel's top at 0.68150.
Price closing over the Channel Up equals buy, Target 0.7000.
Price closing under Support A equals sell, Target 0.6400.
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AUD USD - FUNDAMENTAL ANALYSISAustralia: Jobs, wage data and RBA minutes on tap
Australia’s labor market data is out on Thursday and expected to show the addition of 25k jobs in April after 53k jobs added in March, with the unemployment and participation rates seen steady at 3.5% and 66.7% respectively. Just a day ahead of this release, we also get the Q1 wage price index which could be a key focus as RBA Governor Lowe emphasised the importance of the “evolution of labor costs” to justify the recent increase in the cash rate. A big upside surprise in wage and labor data could continue to suggest a tight job market in Australia, and bring back “sticky” inflation concerns which could be a tricky situation for the RBA and potentially mean more downside for the AUDUSD. RBA minutes from the May meeting are also out on Tuesday.
AUDUSD Weekly Forecast | 15th May 2023Fundamental Backdrop
Inflation Expectations for NZD dropped from 3.30% to 2.79% q/q, causing AUD to drop from 0.68 to 0.668 last week.
Wage Price Index q/q is expected to increase from 0.8% to 0.9% this week, which could lead to a stronger AUD.
Employment Change is expected to drop by half and the Unemployment Rate is expected to remain the same, indicating a weakening economy.
Technical Confluences
Near-term support at 0.66350
Next support at 0.65850
Idea
We could see the AUD drop towards the 0.65850 major support level by the end of the week.
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 0.67500 zone, AUDUSD was trading in an uptrend and successfully managed to break it out, now waiting for a correction to see a potential retrace from 0.67500 support and resistance area.
Trade safe, Joe.
AUDUSD to find support at previous resistance?AUDUSD - 24h expiry
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 0.6806.
We are trading at overbought extremes. A lower correction is expected.
Short term bias is bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 0.6720 (stop at 0.6690)
Our profit targets will be 0.6795 and 0.6815
Resistance: 0.6925 / 0.7160 / 0.7400
Support: 0.6665 / 0.6550 / 0.6380
AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67700 zone, AUDUSD is trading in a downtrend in currently seems to be in a correction phase in which it is approaching the major trend at 0.67700 zone. We would also keep an eye on this week CPI to confirm the trade.
Trade safe, Joe.
AUDUSD Potential Long Forecast | 8th May 2023Fundamental Backdrop
1. Last week the AUD increased its Cash Rate from 3.60% to 3.85%.
2. It signals to the market that the economy is performing well and that inflation is likely to rise.
3. This can increase demand for Australian assets, such as bonds and equities, which in turn can lead to an increase in demand for the Australian dollar.
Technical Confluences
1. Near-term resistance at 0.67850
2. Next resistance at 0.68500
Idea
With the demand for AUD in place and the DXY set to further weaken, we could see price head towards the resistance at 0.67850. A break above 0.68100, could see price head towards the next resistance at 0.68500.
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 tomorrow's trading session we are monitoring AUDUSD for a selling opportunity around 0.67500 zone, AUDUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.67500 support and resistance zone.
Trade safe, Joe.
AUDUSD to find resistance at previous swing highs?AUDUSD - 24h expiry
We are trading at overbought extremes.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Previous resistance located at 0.6793.
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 0.6786 (stop at 0.6816)
Our profit targets will be 0.6716 and 0.6706
Resistance: 0.6925 / 0.7160 / 0.7400
Support: 0.6665 / 0.6550 / 0.6380
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.