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Australian Dollar / U.S. Dollar

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AUDUSD trade ideas

IS AUD/USD ON THE BRINK OF BREAKING STRONG SUPPORT? FUNDAMENTAL VIEW Later today, markets will focus on U.S. PMIs, with manufacturing PMI forecast at 49.4 and services PMI at 55.7. On Tuesday, at 5:30 PM GMT+4, key data releases include USD core retail sales and retail sales, expected at 0.4% and 0.6%, respectively. On Wednesday, December 18, the spotlight will be on the Fed funds rate decision, with markets pricing in a 25bps cut during the December policy meeting. On Thursday at 5:30 PM GMT+4, USD GDP q/q is expected at 2.8%, alongside weekly unemployment claims projected at 245k. The week concludes on Friday with the U.S. core PCE m/m release, forecasted at 0.2%. TECHNICAL VIEW On the daily time frame, price action is consolidating within a defined range, with the upper red rectangle serving as strong resistance and the lower green rectangle acting as firm support. The price is struggling to break and close below this support zone. The RSI is near the oversold level of 30, suggesting a potential reversal, reinforced by the historically strong support at this level. If bears succeed in closing the price below 0.63366, the pair could drop to the October 25, 2023, low of 0.62748, and potentially to 0.62001, almost a four-year low. This scenario could align with a strong dollar and political factors such as Trump's second term. Conversely, if bulls manage to push the price above 0.64742, the next target would be around 0.65488, signaling a possible bullish reversal. The coming days will provide clarity on the direction.
by CFI
AUD/USD Short term trade , rise above low RSI levelHi guys, we are taking a look at a short term trade on the AUD/USD , with an asceding scenario , as to we have reached low levels of the RSI Indicator on 1H and 4H time frames. Entry: 0.63415 Target: 0.63715 Stop loss: 0.63253 RR - 2:1 As always my friends happy trading! P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my channel so you can follow up with me in private!
Long
by DG55Capital
AUDUSD Wave Analysis 16 December 2024 - AUDUSD reversed from support zone - Likely to rise to resistance level 0.6400 AUDUSD currency pair recently reversed up from the support area set between the strong support level 0.6350 (which has been reversing the price from 2023, lower border of the weekly sideways price range) and the lower weekly Bollinger Band. The upward reversal from the support zone stopped the previous impulse waves 3 and (3). Given the oversold weekly Stochastic and the strength of the support level 0.6350, AUDUSD currency pair can be expected to rise further to the next resistance level 0.6400.
Long
by FxProGlobal
AUD/USD Approaching Key Long-Term Support ZoneChart Analysis: The Australian Dollar has fallen sharply and is now approaching a key support level near 0.6172, last tested in October 2022. 1️⃣ Support Zone: The horizontal level at 0.6172 represents a critical long-term support area. A test of this level could attract significant attention from market participants. 2️⃣ Fibonacci Retracement: The 78.6% Fibonacci retracement of the larger upswing sits around 0.6042, which could act as an extended support level if the current zone is breached. 3️⃣ Moving Averages: 50-day SMA (blue): The pair remains well below this level, currently at 0.6524, signaling strong bearish momentum. 200-day SMA (red): Positioned at 0.6615, reflecting a broader downtrend in play. 4️⃣ Momentum Indicators: RSI: At 30.54, nearing oversold territory, which could signal a potential short-term bounce or pause in the downtrend. MACD: Deep in negative territory, with no clear signs of reversal as the MACD line continues to trend downward. What to Watch: Price action near 0.6172: Will the level hold, or will a break open the door for further declines toward 0.6042? RSI divergence or bullish patterns near support could indicate the possibility of a rebound. AUD/USD remains under significant pressure, with momentum favoring bears as the pair approaches a pivotal support zone. -MW
by FOREXcom
CHART BREAKDOWN AUDUSD: Key Levels, Targets and Thoughts!Brief Description🖊️: The chart provides insights into critical market levels, emphasizing 1 essential supply zone: low-risk sell zone spanning from 0.64170 to 0.64210, respectively, is highlighted. Things I Have Seen👀: Important Supply Zone🟢: Identified between 0.64170 and 0.64210 serving as a low-risk sell. Bearish Targets📉: 0.63980 : Possible retracement area. 0.63850 : Possible retracement area. 0.63800 : Possible retracement area. 0.63600: Possible retracement area. 0.63650 : Significant supply zone. 0.63500 : Liquidity area. What's Important Now❗ Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.
Short
by T4X_Trading
AUDUSD - Possible Outcomes20SMA - Blue 200SMA - Pink Key Confluence Areas - Grey Lines Market Structure Support/Resistance - Green/Red Dashed Lines Dear Friends: (Away from charts) It will be prudent to give your mind, body and soul a good rest, to recharge for the new upcoming exciting year! How I see it: Weekly candle body closed below 1W HL Support! It could be a fake-out or it could signal a further decline for stronger support There is also a chance of just a reversal from this point, or at least a strong attempt. Keynote! Alot of data this week. Trade safe as the year is coming to an end. I deeply appreciate you taking the time to study my analysis and point of view.
by ANROC
6
AUD/USD Trading Plan Long/Short Swing TradeThe pair has reached a 2 years low (0.6200). There are two scenario's that I will be following. Scenario 1 Long To trigger a long entry there are a few thing I wish to see before I enter go long. 1. Break of the down slopping trend line around 0.6300 level 2. Creation of new HH and HL (New up-slopping trendline) 3. Break of the resistance level at 0.6350 4. re-test of the level or a fundamental catalyst to give the power for a strong break out 5. Cross of the EMA100 For this entry I will target the 0.6550 level and SL bellow the last HL Scenario 2 Short (Following the current down trend) the only additional confirmation I will need for a short entry is the break and re-test of 0.6200 level, also a look on the volume indicators. The level I will target is 0.6000 super old support level(4.5 years) For my Day trade position I will be using the same levels as reference, using more of chart/candle patterns on 1 and 4h hours time frames for 30-40 pips targets. I hope you enjoyed or find useful this information, feedback is always welcome. Merry Christmas and Happy New Year!
by Don_Bob
AUD/USD Declines as RBA Holds Interest Rates SteadyThe AUD/USD pair is experiencing continued downward pressure following the Reserve Bank of Australia's (RBA) decision to hold the Official Cash Rate (OCR) steady at 4.35% during its final policy meeting of the year. RBA Governor Michele Bullock articulated this choice at a press conference, highlighting that the interest rate has remained at this 12-year high for nine consecutive meetings in December. Currently, the price is trading around 0.6395, reflecting this bearish trend. Market participants are keenly awaiting key economic data, including the upcoming US Consumer Price Index (CPI) announcement and Thursday's unemployment claims, along with the Core Producer Price Index (PPI). These reports are anticipated to introduce considerable volatility into the market. Should favorable economic indicators emerge for the USD, the AUD/USD could potentially approach the next demand zone. At this time, we are not looking to initiate any positions but rather to monitor the price movement and await a possible reach toward that demand area. ✅ Please share your thoughts about AUD/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
AUD/USD Testing Key Support ZoneChart Analysis: The Australian Dollar is testing a critical support area as it hovers near 0.6375 and 0.6285 (pink horizontal lines), levels that have held firm multiple times over the past year. 1️⃣ Support Retest: The price has approached this zone, which acted as support in November 2023 and March 2024. Traders often watch such levels for potential rebounds or breakdowns. 2️⃣ Moving Averages: 50-day SMA (blue): Trending downward, reflecting short-term bearish momentum. 200-day SMA (red): Flat-to-downward slope, signaling a weakening long-term trend. The price remains firmly below both SMAs, reinforcing bearish sentiment. 3️⃣ Momentum Indicators: RSI: Hovering near 36, indicating weak momentum but not yet oversold. Traders might monitor for any divergence signals. MACD: Bearish momentum persists with the signal line below zero and no clear crossover in sight. What to Watch: If the price decisively breaks below 0.6285, it could open the door for further downside. On the flip side, a rebound from this support zone might see a test of the 50-day SMA near 0.6550. Monitor RSI for any bullish divergence and price action around these key levels. The AUD/USD remains under pressure, with a critical support test underway. Traders may find clarity as price action unfolds near this zone. -MW
by FOREXcom
CHART BREAKDOWN AUDUSD: Key Levels, Targets and Thoughts!Brief Description🖊️: The chart provides insights into critical market levels, emphasizing 1 essential supply zone: low-risk sell zone spanning from 0.64170 to 0.64210, respectively, is highlighted. Things I Have Seen👀: Important Supply Zone🟢: Identified between 0.64170 and 0.64210 serving as a low-risk sell. Bearish Targets📉: 0.63980 : Possible retracement area. 0.63850 : Possible retracement area. 0.63800 : Possible retracement area. 0.63600: Possible retracement area. 0.63650 : Significant supply zone. 0.63500 : Liquidity area. What's Important Now❗ Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.
Short
by T4X_Trading
Is this a bottom for AUDUSD?It's been a fantastic move lower, but is 0.6400 a spot for a reversal? Nothing fundamental is serving as a catalyst for moving the pair in any direction for the rest of the year. Trend: LSMA moving lower since 10/21/24 Momentum: Bearish Japanese Candles: Inverted Hammer (imperfect) printed last week. Is this the bottom? Chart Pattern: None Support and Resistance: 0.6400 is Support, 0.6750 is a Bullish Target, 0.6200 is a Bearish Target Fundamentals: No news this week or next Trade: None Stop: None
by positionforex
1