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Audusdanalysis

Potential swing trade long on AUD/USD 1-hour chartAUD/USD pulled back for a second day on Monday thanks to weak data from China and rising geopolitical tensions as Russia have backed to of a key gain deal. Support was found around the weekly pivot point, RBA ‘pause’ high and 38.2% Fibonacci retracement level, and the subsequent rally suggests a swing low is in place. The RBA minutes are due in ~2 hours, and we’d welcome any pullback towards 68c which could help improve the potential reward to risk ratio for longs. Of course, if the minutes are as dovish as hoped then AUD runs the risk of breaking beneath yesterday’s low and invalidating the near-term bullish bias. But we suspect the minutes may be a little more hawkish than liked, which leaves the potential for it to pop higher. We have a target near the upper 1-day implied volatility band around 0.6850.
Long
by CityIndex
32,600 Jobs Added! Aussie Dollar Skyrockets!The Australian dollar has surged, driven by an impressive employment report that far exceeded expectations. In the month of June, Australia's net employment rose by a staggering 32,600 compared to the previous month, surpassing estimates by more than double. This development propelled the Aussie currency up by over 0.9%, reaching an intra-day high of $0.6834. The New Zealand dollar also rode the wave, gaining 0.57% to reach $0.6299. Both Antipodean currencies are now poised to reverse the losses incurred over four consecutive trading sessions. The current market sentiment favors the bulls, with both short and long-term momentum in their favor. Price action is trading above the 50 and 200-day moving averages, reinforcing the positive outlook for the Australian dollar. Elsewhere in the currency market, the sterling is doing its best to counter deep losses following a sharp fall in the previous session. The decline was prompted by Britain's inflation data, which fell short of market expectations. The British pound managed a modest recovery, trading 0.15% higher at $1.2958 in the latest session.
by BlackBull_Markets
AUDUSD Signals Potential Intraday downside moveHello Traders, Here is my intraday technical outlook of AUDUSD. Long term On the H4 time frame, a big inverted head and shoulders pattern is seen, indicating a potential long term bullishness. Short term AUDUSD has displayed interesting price action, indicating potential bearish momentum in the near term. Here's a breakdown of the short term analysis: 1. Intraday Consolidation and Sign of Weakness : AUDUSD experienced a period of consolidation around 0.68956 -0.68705, suggesting indecision in the market. However, signs of weakness emerged during this phase, indicating that sellers might have been gaining control. 2. Rally Without Strength and Failed Resistance Test : Despite the consolidation, the pair attempted to rally to the upside. However, the rally lacked conviction and failed to reach the resistance zone, signaling a lack of buying power. As a result, sellers took the opportunity to overpower the buyers, leading to the establishment of a crucial supply level. 3. Break of Support Zone : The bears succeeded in breaking below the significant support zone located around 0.68496. This breakout is a bearish signal, suggesting that sellers are gaining control of the market. Considering the analysis, the outlook for AUDUSD leans towards a potential further decline to the 0.68040. Traders should keep a close eye on price action, especially during the retest of the broken support. If the retest confirms the newfound resistance, it would add more credibility to the bearish scenario. Cheers and happy trading.
Short
by Samuel124
4
AudUsd in strong supportAfter the double bottom in the important support area at 0.66, AudUsd has risen strongly and reached 0.69 resistance given by the previous high. At this moment the pair is rolling back down in a normal correction and this could offer bulls nice buying opportunities in anticipation of an up continuation. At the time of writing AudUsd is trading exactly in the old resistance of the range which should provide support now and I'm looking for reversal signs.
Long
by Mihai_Iacob
3
AUDUSD might pumping after correctionSeveral weeks ago I expect it will going down retrace to price 64¢ but it didn't, it was pumping from 65¢ and broke the strong resistance swing high at 68¢, after that correction to strong support at 66¢ before it pumping hard again to test that 69¢, but unfortunately not yet touched. Usually when the price doesn't touched particular strong round number (almost touch 1-3 pips), once again when it comes to that price, it will break the price like it was nothing (long bullish/bearish candle close above/below the strong price). Actualy I had sell limit at 69¢ several weeks ago but the price didn't take my sell order (missed less than 2 pips). Now the market structure is clear, bull domination. Usually price will spike to 60-70 pips before it going in favor (downward). I expect will correction to 67¢ for buy opportunity to test the new resistance at 69¢ (200 pips). It was consolidating 100 pips between 66¢ (minor support) and 67¢ (minor resistance) for 10 days before it pumping hard broke the 67¢ after USD high impact news released (CPI data) and this mean this (67¢) is strong demand on daily or weekly chart (spot the move without change to daily or weekly chart). I'll looking the price to build minor structure on smaller timeframe such as H1 before take consideration to sell for corrective moves. What do you guys think?
Long
by UnknownUnicorn33119711
AUDUSD Long OpportunityAUDUSD is on a bullish assault and is currently offering buys for the near-term Here is my rationale: Weekly: -we broke structure on the weekly to the upside recently, especially after a long time being both ranging and marginally bearish -we printed two strong wicks in the past two weeks to the downside, the last culminating into a hammer candle -this indicates that we have exhaustion after the strong retracement we experienced on the pair three weeks ago -the hammer gave a hint of bullish momentum stepping into the market -we are currently in the overall bullish continuation phase on this time frame H4: -we have broken structure to the upside and are, today, strongly pushing to the upside -we have had a clear bullish dominance in the market and I am seeking this momentum to carry on to the 0.69000 level, where the June high leveled out and is a potential source of liquidity if we are to shift direction to the downside Midrange (H1) -we are strongly bullish -the weekly high at 0.68830 and the June high at 0.69000 are strong levels of magnetism for the pair -I am seeking a buy at the 38.2%-50% fib retracement level, targeting 0.68800, right below the previous zone of supply where the pair took orders and dumped them all the way to 0.66000 at the close of June.
Long
by lovinmulika
1