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Audusddaily

AUDUSD Short term upside!AUDUSD is completing the last leg of a 3 wave correction in the minuette purple degree, we called at the end of November 2021. The correction should take AUDUSD higher to about 0.73200, that is if we do not get a short leg (c) which can terminate at about 0.7250 (61.8% extension). At 0.73200 we should start looking to sell the AUDUSD for mid-term downside which should see the pair breaking well below the 3rd December 2021 low of 0.699, taking the pair as low as the 0.6700 areas.
Long
by pkhumalo
AUD/USDThe Australian dolar has been falling sharply, due to risk-off sentiment hitting hard as concerns rise about the economic impact of the new omicron coronavirus variant. The Australian economy is already contracting sharply, as was revealed by last week’s GDP data which showed a quarterly contraction of 1.9%. The USD is relatively strong, so this pair is a major focus of the Forex market and has seen lots of action. The price of this currency pair ended last week right near its low after falling by more than 1.66%, closing at an 18-month low price with strong bearish momentum. These are all bearish signs and there is a good chance that the price will see another strong fall like last week, so there will probably be an opportunity for a short trade here.
Short
by SmoothJB
The tone has taken a turn. More downside for AUDUSDThere are two new macro uncertainties we are going through right now. 1. Omnicron strain 2. Fed bringing forth the date to raise rates Both of which spells trouble for the global economy which explains the risk off attitudes we are seeing in the market this week. We should see more downside come for the aussie dollar in the coming weeks unless there is a 180 degrees shift in macro sentiments. BEAR CASE It looks like price is ready to dump from here to retest the 0.67 levels. BULL CASE If we see a short consolidation to the upside this coming week, we will be looking for our shorts.
Short
by IkanBilisCapital
AUD/USD Forex Signal: Extremely Bullish Above 0.7170Bullish View Buy the AUD/USD and set a take-profit at 0.7230. Add a stop-loss at 0.7070. Timeline: 1-2 days. Bearish View Set a sell-stop at 0.7100 and a take-profit at 0.7000. Add a stop-loss at 0.7200. The AUD/USD pair wavered on Thursday morning as the market reflected on the hawkish tone by the Federal Reserve chair and the positive numbers from the US and Australia. The pair is also wavering as investors focus on the upcoming jobs numbers from the United States. The pair is trading at 0.7143, which is slightly higher than this week’s lowest point. Hawkish Federal Reserve The biggest catalyst for the AUD/USD and the US dollar has been the relatively hawkish statement by the Federal Reserve chair. On his first day of congressional testimony, Jerome Powell sent shockwaves by his statement on quantitative easing and tapering. He said that the central bank will continue tapering its asset purchases at a quicker pace than expected. In its interest rate decision in November, the bank signalled that it will end its purchases in June next year. Therefore, there is a likelihood that the bank will now wind down the policy in the first quarter of 2022. This statement will therefore put pressure on the Reserve Bank of Australia (RBA), which will start its meeting on Monday and deliver its decision on Tuesday. There is a likelihood that the bank will signal that it will start hiking rates earlier than 2024. In the previous meeting, the bank signalled that it will hike in 2024. Therefore, with data from Australia being relatively strong, there is a likelihood that the bank will also turn hawkish next week. On Wednesday, data published by the country’s statistics agency showed that the economy contracted by 1.9% in the third quarter. This was a better figure than the median estimate of -2.7%. The economy grew by 3.9% on a year-on-year basis, In addition, the manufacturing sector did well in November, according to numbers by Markit and Australia Industry Group. And today, numbers showed that the country’s retail sales rebounded in October. AUD/USD Forecast The four-hour chart shows that the AUD/USD pair declined to a low of 0.7065 this week. This price was along the first support of the standard pivot points. It then rebounded and is now trading at 0.7130, which is slightly below the standard pivot point. The pair is still below the 50-day moving average while the MACD has started moving upwards. Therefore, the pair will likely keep rising as bulls target the first resistance at 0.7230.
BITSTAMP:BTCUSDLong
by SmoothJB
AUD/USD Forex Signal: Aussie at Risk as Omicron ArrivesAustralia Detects Omicron The AUD/USD pair tumbled sharply as Australia became one of the few countries to detect the new Omicron variant. The country’s health ministry confirmed two new cases of the variant and there are concerns that more people will be infected. Therefore, there are concerns about how this growth in infections will affect the country’s economy. The only optimism is that the country’s federal and state governments have committed to reopening even as the number of cases rise. Business groups have also warned about new local and international restrictions. The government will also implement a three-day isolation period for all international arrivals. Therefore, the new number of cases has led to worries that the Reserve Bank of Australia will sound dovish when it meets next week. Analysts were expecting that the RBA will tweak its policy statement and hint that rates will rise in 2023 instead of the previous 2024. The next key data to move the AUD/USD will be Australia’s private home approvals and housing credit that will come out on Tuesday. The pair will also react to testimony by Jerome Powell, the Federal Reserve chair. This will be his first statement since he was reappointed by Joe Biden. Analysts will be waiting for any change in sentiment during this meeting. Also, they will be watching out for any change in tone about the new variant of the virus. The AUD/USD will also react to the latest pending home sales numbers from the United States. Pending home sales are expected to rise by 1% after falling by 2.3% in the previous month. The AUD/USD pair has been in a major sell-off in the past few weeks. And last week, the pair managed to move below the key support level at 0.7170, which was the lowest level in October. It has also managed to drop below the 25-day and 15-day moving averages. The Relative Strength Index (RSI) has also been in a bearish trend. Therefore, the pair will likely keep falling as bears target the key support at 0.7050. On the flip side, a move above 0.7200 will invalidate this view. Bearish View Sell the AUD/USD and add a take-profit at 0.7050. Add a stop-loss at 0.7180. Timeline: 1-2 days. Bullish View Set a buy-stop at 0.7150 and a take-profit at 0.7250. Add a stop-loss at 0.7050. The AUD/USD pair sell-off accelerated on Monday as concerns about the new Covid-19 variant remained. The pair dropped to a multi-month low of 0.7115, which was the lowest level since August. This was 5.7% below its October high of 0.7550.
Short
by SmoothJB