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Audusdanalysis

AUD breaking out of downtrendAUD/USD Breaks Key Resistance Overview: The FX:AUDUSD pair has shown significant signs of a trend reversal after being in a downtrend since 2021. The pair reached a low just below $0.62 and has since made a strong recovery. Key Technical Points: 1. Trend Reversal: - The pair has broken out of the descending trendline that has been intact since 2021. - This breakout is a crucial signal indicating a potential shift from the prolonged bearish trend to a bullish phase. 2. Moving Averages: - The price has successfully crossed above the weekly 50-period Moving Average (50MA), which often acts as a significant resistance level. - The next key target is the weekly 200-period Moving Average (200MA). The convergence of the 200MA with the Fibonacci retracement levels adds to its importance as a resistance zone. 3. Fibonacci Retracement Levels: - The price is currently approaching the 0.382 Fibonacci retracement level. A successful breach of this level could propel the pair towards the 0.618 retracement level. - The 0.618 Fibonacci level aligns closely with the 200MA, making it a critical resistance zone. This confluence strengthens the resistance at this level, which lies around the $0.72 area. 4. Key Resistance and Support Levels: - Resistance: The immediate resistance is at the 0.382 Fibonacci retracement level. Beyond this, the $0.72 zone, which coincides with the 0.618 retracement and the 200MA, is the next major resistance. - Support: On the downside, the broken trendline and the weekly 50MA now act as crucial support levels. Additionally, the $0.62 level, which marked the recent low, remains a significant support zone. Outlook: The breakout above the downtrend line and the 50MA, coupled with increasing volume, suggests a bullish outlook for the AUD/USD pair. If the pair manages to break above the 0.382 retracement level, it could head towards the $0.72 area, which is reinforced by the 0.618 Fibonacci level and the 200MA. Traders should watch for consolidation around these key levels and the reaction at the $0.72 zone to gauge the sustainability of this bullish trend. Conclusion: The AUD/USD pair's technical landscape has shifted favorably for bulls after a prolonged downtrend. The current breakout and the crossing of key moving averages signal potential for further upside. However, traders should remain cautious around the $0.72 resistance zone, as it represents a critical juncture that could determine the next phase of the trend.
Long
by CryptoFallen
AUDUSD pullback and bullish continuation … 08 July 2024 As I posted on 15 June, this pair gave us the opportunity to trade within a range. It has now broken out to the upside giving a probable bullish move. I don’t chase price so I am looking for a pullback to the top of the previous range to go long (if that happens). If there is no pullback and price just continues on its current path – so be it. I am already long EURUSD and will probably find a nice JPY cross to trade. This is not a trade recommendation, it is just my analysis. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management if/when you trade. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
Long
by Trading_Vista
AudUsd trading idea (1:3 R:R) so finally we have a breakout on audusd from daily trinagle pattern as well as the consolidation from 1h we have marked after the impulsive upside we have bullish fvg, it will be our entry point and sl will be as shown in chart below the pattern range so buy = 0.66913 , tr 0.67720 , sl 0.66652 this setup looks strong as the price has made a nice consolidation before breakout and also the pattern is on higher time frame of 1day and it has formed for almost many days it has good probability
Long
by Jimmy_Rebello
Forex Price analysis - GU, AU, UC, UJ and CJWelcome to this week's Forex Price Analysis for the week starting June 30, 2024. We're analysing GBPUSD, AUDUSD, USDCAD, USDJPY, and CADJPY. GBPUSD: The bullish wave structure is broken. High probability sell at 1.2654 targeting 1.2612. AUDUSD: A bearish wave suggests a buy at the low. A strong rally on Friday. Prefer buying after a correction to the 0.6640 buy zone. USDCAD: A bearish move on Friday indicates a revisit to 1.3734. Expect lower prices to 1.3627 before buying. USDJPY: Strong uptrend last week. Bullish wave failed; trend change pattern with a corrective wave in Fibonacci sell-zone. Trade below 160.70 suggests further decline. A break above 160.96 negates selling. CADJPY: Similar to USDJPY. Potential downside after Thursday's high. A strong break of the high on Friday suggests an uptrend continuation. A break below 117.43 indicates a selling opportunity after a pullback.
by Charts247TradingAcademy
AUDUSD Technical Analysis and Trade Idea - Trading A Range👉🔍 In this video, we take an in-depth look at the AUDUSD currency pair. You'll notice that it is clearly range-bound on the daily, 4-hour, and lower timeframes. We explore the possibility of a breakout on either side of the range and focus on how to capitalize on this during the London Open when a potential break of the 15-minute timeframe Asian range occurs. Additionally, we cover essential topics such as trend analysis, market structure, price action, and other key aspects of technical analysis. Please remember, this video is for educational purposes only and does not constitute financial advice. 📊✅
by tradingwithanthony
2
A strong rejectionPrice got rejected four times from the daily rejection block, initially engineered a supply zone that was mitigated, followed by a sweep. The liquidity sweep impulsively corrected the imbalance and significantly respected the demand zone at 0.65900. Then we experienced a hike to clear the liquidity created by the fair value gap which led to a minor decline to the hourly breaker block. From the 30 minute point of view we have the breaker as our base and price happened to make a sweep of liquidity and simultaneously mitigated the 30 minute order block. This indicates that we’re still in a bullish market because all the timeframes are in alignment and we currently have the 4h liquidity pool acting as our magnet. The anticipation here is for price to sweep the liquidity, mitigate the supply zone, provide us with the 5th retest to the daily rejection and we currently have a bullish engulfing candlestick to solidify this emerging hike before going bearish...
by tokelohomi
AUDUSD I Price is ranging on the daily I How to Approach ItWelcome back! Let me know your thoughts in the comments! ** AUDUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
by BKTradingAcademy
AUD/USD Starts New Week with Positive Tone,Rebound ExpectedThe AUD/USD pair kicked off the new week on a positive note, hinting at a potential rebound from a significant support area that aligns with the 78.6% Fibonacci retracement level. This comes after a bearish reversal observed last week, which saw the pair correcting from its previous bullish momentum. Recent Trading Activity Last week, we successfully closed a profitable position by capitalizing on the bullish impulse. Our detailed analysis and forecast, available on our page, accurately predicted the upward movement, allowing us to ride the bullish wave to its peak. Technical Analysis Currently, the AUD/USD is showing signs of a potential reversal from the support area. The 78.6% Fibonacci retracement level, known for being a strong support level, adds further weight to this potential rebound. This Fibonacci level is often seen as a critical point where prices tend to find support and reverse, especially after a significant bearish correction. Market Sentiment and Trend Analysis Analyzing the market sentiment, an upside break this week appears marginally more likely than a downside break. This outlook is based on the observation that the trend prior to the formation of the current range was bullish. Typically, when a range forms after a strong trend, the breakout tends to follow the direction of the initial trend. Therefore, the probability of an upward breakout remains slightly higher. Trading Strategy Given the technical indicators and market sentiment, we have decided to open a bullish setup. This setup offers a positive risk/reward (R/R) ratio, making it a viable long-term trade. By positioning ourselves for a potential rebound, we aim to capitalize on the expected upward movement while managing our risk effectively.
Long
by FOREXN1
3
AUDUSD - Do you wanna play the range?Range trading is as valid as any other, but not many traders play a range. If you are inclined to, you might want to consider this one. At least 2 touches on both sides are required to form a range and we do have that. This is not a trade recommendation. Trading carries a high level of risk, so only trade with money you can afford to lose. Anything can happen in the markets at any time. Please use sound money and risk management in all your trades. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
by Trading_Vista
4
AUD/USD Bears to Push Towards 50-Day SMA?Ahead of this week’s RBA meeting, the Australian dollar exhibits a potential bearish scenario versus the US dollar, with the monthly and daily charts indicating further softness for the AUD/USD currency pair. 50-Day SMA Demands Attention Since September 2022, buyers and sellers have squared off between two converging lines on the monthly scale, a movement sufficient to label this pattern as a symmetrical triangle (or coil). You will note that May shook hands with the structure's upper boundary and has triggered a moderate sell-off this month (down -0.6%). Aiding the upper limit of the coil is a layer of monthly resistance coming in at $0.6670 that’s complemented by the Relative Strength Index (RSI) continuing to navigate space south of the 50.00 centreline. There’s also plenty of scope for sellers to stretch their legs at current price on the monthly chart: support is not expected to make a show until as far south as $0.6390. Meanwhile, on the daily timeframe, resistance at $0.6690 has been a talking point since mid-May, withstanding three upside attempts. If sellers maintain their position this week and overthrow willing bids at the 50-day simple moving average (SMA) at $0.6583, this would unearth a possible bearish scenario towards the 200-day SMA at $0.6539 and neighbouring support coming in from $0.6502. H1 Confluence Given the space for sellers to make their way to the 50-day SMA at $0.6583 on the daily chart, technical studies lean in favour of further selling towards $0.66 on the H1 scale this week, followed by H1 support from $0.6580. Therefore, the area showing H1 resistance at $0.6622 converging with channel resistance (drawn from the high of $0.6704) and a trendline support-turned-resistance line (taken from the low of $0.6575) could be a zone sellers show interest in this week.
Short
by FPMarkets
A cautious bounce for AUD/USD ahead of US CPI, FOMCFriday's nonfarm payroll report took many by surprise to send the USD dollar sharply higher against all of its major peers. And that clearly took it toll on the Aussie, which suffered its worst day in five weeks. A bearish outside week formed, all thanks to an elongated bearish engulfing candle on Friday. AUD/USD managed a minor rebound from its 100 and 200-day EMAs on Monday, but it was a public holiday in Australia and China so the move is assume to corrective. The 1-hour chart shows prices are sitting around the monthly pivot point and 38.2% Fibonacci level, so we're looking for a swing trade short whilst prices remain beneath 0.6630 and for a move down to 0.6560.
Short
by CityIndex