AUDUSD Approaching an important supply zone into the coming FOMCHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67 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 0.67 support and resistance zone. We just had a 25 bps today from the RBA which should push the fed to follow up and make further rate hikes too. Several feds have also mentioned the importance of another rate hike.
Trade safe, Joe.
Aud-usd
Corrective Movement for AUDUSDThe AUDUSD pair has reached a support level, with a divergence appearing on momentum indicators. This could lead to a corrective movement, with a retest of the channel it escaped from, the 100 and 200 moving averages for the 4-hour timeframe, and the Fibonacci level of 38.20% around 0.66630. The price is then expected to drop towards 0.6550.
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AUDUSD Bear FlagHey Traders, in tomorrow's trading session we are monitoring AUDUSD for a selling opportunity around 0.665 zone, AUDUSD have formed a bear flag pattern and in the chart above the breakout of the flag is already done, so for now on we will be watching a potential retrace of the breakout from 0.66500 support and resistance zone.
Trade safe, Joe.
AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.666 zone, AUDUSD was trading in an uptrend and successfully managed to break it out, currently AUDUSD seems to be in a correction phase in which it is approaching the major trend at 0.666 support and resistance zone. Fundamentally the market is pricing another rate hike early May as fed still see inflation as a concern which should trigger more USD bulls.
Trade safe, Joe.
AUDUSD Potential BreakoutHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.665 zone, AUDUSD was trading in an uptrend and seems to be attempting to break it out after a bunch of fed hawkish comments about the coming monetary policy on early May and another potential rate hike. Technically if we get dips below 0.665 we will monitoring a potential retrace of the trend towards more lows.
Trade safe, Joe.
To catch a falling knife? AUDUSD - 24h expiry -
Previous support level of 0.6619 broken.
We are trading at oversold extremes.
A higher correction is expected.
Previous support located at 0.6564. The hourly chart technicals suggests further downside before the uptrend returns.
Preferred trade is to buy on dips.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
We look to Buy at 0.6575 (stop at 0.6540)
Our profit targets will be 0.6665 and 0.6680
Resistance: 0.6665 / 0.6780 / 0.6925
Support: 0.6550 / 0.6380 / 0.6170
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🔥 NEW AUDUSD ✨ COUNTER-TREND TRADE 🔥SLO @ 0.6700 ⏳
SSO @ 0.6575 ⏳
TP1 @ 0.6460 (shaving 25%)
TP2 @ 0.6350 (closing all sell positions)
BLO @ 0.6325 ⏳
ADDITIONAL INFO:
00:00 Shout Out to @kristonperry
00:42 Supply Zone / Sell Limit Order
01:00 Support / Sell Stop Order
01:20 Position Sizing @ ~2-3%
01:50 Shaving 25% @ each TP
02:54 Demand Zone 2, preferred
04:40 Boost, Follow, Comment, Join
AUDUSD: Potential rebound before fallingAUDUSD has been trading below its 100-day and 200-day moving averages, indicating bearish pressure. However, it has recently broken out of bearish flag pattern. But its currently facing a strong support level as seen on the daily chart:
Upon analyzing the 4-hour chart, we can predict a potential rebound from the current support level to retest the previous resistance level. This level coincides with the 100 and 200 moving averages on the 4-hour chart and the 38.20% Fibonacci level. The analysis would be invalidated if the AUD rises above 0.67100.
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AUDUSD: Hourly chart selling pressureOn the long-term, the AUDUSD pair is moving sideways, meaning there is no trend to follow. However, on the short-term (hourly and 4-hour frames), traders can benefit from these sideways movements by identifying local trends and support and resistance levels.
Looking at the hourly frame, we can see that the price is trading below the 100 and 200 daily moving averages as well as the 100 and 200 moving averages for the hourly frame. This may confirm that trading is under selling pressure.
Last week, we expected the price to break the local uptrend, which would increase selling pressure on the price. Currently, the price is approaching a support line at 0.6693, and we are waiting for the price to correct to the broken trend edge and the moving averages (without surpassing them). This would signal a sell opportunity until at least 0.6659. However, it's worth noting that the situation remains unstable due to the sideways movement, and the price could reverse at any moment.
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AUD USD - FUNDAMENTAL DRIVERSThe Pound and Euro could reach fresh multi-month highs against the U.S. Dollar this spring, although a lull in price action over the northern hemisphere's summer months would then be expected.
This is according to the analysis of W. Brad Bechtel, Global Head of FX at Jefferies LLC, which also warns of the potential for a more notable turn lower in the Dollar by year-end.
Bechtel has been watching the Dollar index - a measure of overall USD performance against a basket of major currencies - and finds the rise witnessed over recent days can continue, even if it is somewhat unconvincing.
"I am still of the view that we are likely to see some weakness in the USD in the medium term, but in the very short term DXY might get pulled just a bit higher first," says W. Brad Bechtel, Global Head of FX at Jefferies LLC.
Bechtel is watching U.S. interest rate markets as an explainer of the Dollar's performance as inflation narratives become "a thing again" .
"DXY made a double bottom around 100.80 for now but has not really participated in the rally as U.S. rates grind higher," says Bechtel.
U.S. two-year bond yields have been rising since the week of March 20, a development that would typically be expected to offer the U.S. Dollar support.
But, "in percentage retracement terms the USD is nowhere close to the 50% seen in the 2yr which tells me that there is some structural weakness in the USD out there still" .
"If this move in U.S. yields fizzles and starts to reverse lower again, then the USD will take out 100.80 pretty quick and EUR/USD will rise through 1.1100," predicts Bechtel.
The Dollar is expected to be the prime driver of where the Pound to Dollar exchange rate and other pairs trade over the coming weeks.
"In the end, EUR/USD will trade to 1.1250, GBP/USD 1.2700, AUD/USD through 0.7000, maybe up to 0.7200 eventually," says the Jefferies analyst.
The Dollar index is meanwhile expected to trade through 100.00 floor, but Jefferies' FX strategy team is not looking for "a huge break lower" .
"A move through 100.00 and then some range-bound activity as we push through the Summer," says Bechtel.
This suggests another leg higher in GBP/USD, EUR/USD, AUD/USD et al. is possible during spring, ahead of rangebound trade during the summer months (through to end-August).
"By end of Summer, we'll have a better view on where things stand with the US economy. Will the US economy roll over hard or will the Fed pull the rabbit out of its hat and have a soft landing," says Bechtel.
If the Dollar slides sharply into year-end and into next year "then we could enter a bigger down cycle in the USD, but I am reticent to make that call just yet," says Bechtel.
AUDUSD Potential Downsides after a bunch of hawkish commentsHey Traders, AUDUSD was trading on an uptrend but after a bunch of hawkish fed comments USD seems to gain back it strength. including fed Waller, Williams, and Bowns. Technically we will be watching a potential retrace of the trend from 0.67100 Support and resistance zone.
Trade safe, Joe.
AUDUSD Head & Shoulders but don't sell until the Support breaksThe AUDUSD pair is forming a Head and Shoulders (H&S) pattern on the 1D time-frame, having also completed a Death Cross (1D MA50 crossing below the 1D MA200) three days ago. This is a technically bearish pattern. We will stay bullish however, targeting 0.71500 until Support 1 (0.65665) breaks. In that case we will target 0.64000.
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AUDUSD: This Support is the pivot level we'll tradeAUDUSD is on neutral 1D technicals (RSI = 51.267, MACD = -0.001, ADX = 34.243) as it has been basically trading sideways for the past 30 days. The pattern looks a lot like the November/December 2022 Channel Up, which broke out to the R1. As long as the S1 holds, we will be buyers (TP = 0.71250). If the S1 breaks, we will take the loss and sell, targeting the S2 (TP = 0.62250).
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AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.68100 zone, AUDUSD was trading in upwards but seems like there was a quick change of trend after some hawkish comments from Fed Waller about the US monetary policy which have triggered USD strength. Currently AUDUSD is approaching an important Supply zone of 0.68, when Good fundamentals meets with the technicals price action should be on Radar.
Trade safe, Joe.
AUDUSD Weekly Forecast| 17th April 2023Fundamental Backdrop
1. Last week, the Employment Change was better than expected which shows that consumer spending have improved.
2. The Unemployment Rate maintained at 3.5% which shows the economic health is stabilizing.
3. These news events caused the AUD to rise towards 0.68 key resistance level before dropping back down to 0.67 by the end of the week due to the significant bullish FOMC news event which caused the DXY to strengthen.
4. This week we have the NZD CPI q/q which is expected to improved. NZD news events closely affects the AUD. This shows that inflation is rising and could lead the central bank to raise interest rates. We could see the AUD retest the 0.68 resistance level.
Technical Confluences
1. Near-term support at 0.66740
2. Resistance at 0.67850
Idea
The sentiments for AUD this week is relatively bullish. We could see price retest the near-term support at 0.66740, before heading towards the resistance at 0.67850
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 UpsidesHey Traders, in the coming week we are monitoring AUDUSD for buying opportunity around 0.66300 zone, AUDUSD is trading in an uptrend and now seems to be in a correction phase in which it is approaching the major trend around 0.66300 Support and resistance zone. Once bulls are confirmed i would consider the ascending channel resistance as a target.
Trade safe, Joe.
AUDUSD | Short Signal!The AUD/USD pair has been experiencing a bearish sentiment lately due to a strengthening of the US dollar, which is causing the pair to move lower. This is partly due to rising inflation concerns in the US, which is increasing expectations of a faster pace of interest rate hikes by the Federal Reserve. Additionally, the ongoing trade tensions between the US and China are also weighing on the Australian dollar, which is a commodity currency heavily exposed to Chinese demand. Overall, the short-term outlook for AUD/USD is bearish, but as with any market, sentiment can change quickly based on a variety of factors.
AUDUSD Outlook 13 April 2023The AUDUSD continues the upward move, firstly because of the weakness of the DXY overnight as the CPI data signaled a slowdown in overall inflation growth for the US.
In addition, stronger than expected employment data for the Australian economy added on to the upward momentum.
If the price closes above the resistance level of 0.6725, further upside potential could be expected with the next key resistance level at 0.6790
AUDUSD Potential UpsidesHey Traders, in today's trading session we are monitoring AUDUSD for a buying opportunity around 0.665 zone. AUDUSD was trading in a downtrend and now seem to successfully break it out and in a correction phase so i will be watching a potential retrace of the trend at 0.665 support zone. If CPI tomorrow's comes soft that should be a good confirmation for upsides.
Trade safe, Joe.
AUDUSD Outlook 11 April 2023Considering a potential strong reversal on the AUDUSD as the price found strong support at the 0.6625 price level.
In a similar move, on 24th March, when the AUDUSD failed to break below the support level, the price rebounded strongly to the upside, trading up to the 0.68 resistance level.
Now that the AUDUSD has broken over the 23.6% fib retracement level and the downward trendline, this could indicate further upside potential.
The main area of concern is the shadows on the previous few candles showing some resistance.
However, anticipating further DXY weakness, the AUDUSD could close above the 38.20% fib level and 0.6690 price level, to signal further upside with the immediate resistance at 0.6725 and beyond that 0.68
AUDUSD Very low risk tradesAUDUSD hit Support (1) and is rebounding.
The Fibonacci levels align almost perfectly with Support-Resistance levels.
Trading Plan:
1. Buy for as long as the price is closing over Support (1).
2. Sell if it closes under Support (1).
Targets:
1. 0.67850 (Resistance 1)
2. 0.65700 (Support 2).
Tips:
1. The RSI (4h) hit the 25-day Falling Support. This is an additional buy indicator for as long as it holds.
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AUDUSD Weekly Forecast| 10th April 2023Fundamental Backdrop
1. The RBA chose to hit a pause on its interest rates maintaining it at 3.60%. This marked the first pause since May of 2022. This is seen as Dovish.
2. It's increasingly dovish for the AUD, especially around the household sector. There are evidence that the combination of higher rates, high inflation, and falling house prices are leading to a substantial slowing in household spending.
3. Eyes are out on the Employment Change which is expected to drop and the Unemployment Rate which is expected to increase.
Technical Confluences
1. Near-term support at 0.66400
2. Next support below at 0.66000
Idea
The sentiments for AUD this week is relatively bearish. We could see price continue heading towards the near-term support at 0.66400. A break below 0.66250 could see price head lower towards the next round number support 0.66000.
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.