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Australian Dollar / U.S. Dollar

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AUDUSD trade ideas

AUD/USD: Ready for the Break or the Bounce?Alright, let's break down the AUD/USD chart using a top-down approach, starting from the higher timeframes and moving down to the lower timeframes to find potential setups for this week. Looking at the weekly chart, AUD/USD has been in a consistent downtrend, with prices continuing to test lower levels of support. We’re currently sitting near a critical support level at 0.66704. This weekly level is significant because it's been tested multiple times, and any break below this could signal a continuation towards 0.65762, the next weekly support level. However, if the price respects this level, we might see a retracement back up to 0.67538 or 0.67947, which are key weekly resistance zones. On the daily chart, AUD/USD is showing a strong bearish momentum with the price moving below the 21 EMA, which continues to act as dynamic resistance. We see a descending trendline that’s holding the price down, reinforcing the bearish bias. However, we are also at the 0.66704 daily support level, which coincides with the weekly support. If price fails to break below this level convincingly, we could see a short-term pullback. The first target for a potential pullback would be 0.67538, aligning with the EMA 21. On the 4-hour chart, the bearish pressure is evident, but the candles have been consolidating above 0.66704 support. If we break below this level, we’ll likely see a move towards 0.65762. However, a bounce from this level would indicate a short-term buying opportunity. If that happens, I’m looking for a potential entry near 0.66704 with targets at 0.67538 and 0.67947. In summary, if we break below 0.66704, it’s a clear signal to short towards 0.65762. On the flip side, a bounce from here provides a short-term buying opportunity targeting 0.67538.
by SheenaL
#AUDUSD 1 DAYAUD/USD 1-Day Chart Analysis: The AUD/USD 1-day chart has experienced a trendline breakdown, signaling a shift from bullish to bearish momentum. After a sustained upward movement, the price has broken below the ascending trendline, indicating that sellers are gaining control and the trend is likely to reverse. Forecast: Sell once the price confirms the breakdown below the trendline, suggesting a continuation of the downward move. - This breakdown signals the potential for further selling pressure, as the price is expected to move lower after the trendline is breached. - Look for confirmation through bearish price action or increased selling volume to strengthen the sell signal. Let me know if you need any modifications!
Short
by PIPSFIGHTER
AUD/USD Technical Analysis: (READ DESCRIPTION)AUD/USD Technical Analysis: Bullish Momentum Expected Above 0.6660 Pivot Point: 0.6660 The pivot at 0.6660 acts as a key support level, determining the near-term direction of the AUD/USD pair. As long as the price holds above this level, a bullish move is anticipated. Our Preference: Long Positions Recommended Trade: Long positions are preferred as long as the price remains above the 0.6660 pivot point. This suggests a potential rise toward higher resistance levels. Target Levels for Upside Movement: First Target: 0.6700 This represents an intermediate resistance where traders may look to take profits or assess continuation. Second Target: 0.6720 If the first resistance is surpassed, further gains toward 0.6720 are likely, indicating stronger bullish momentum. Alternative Scenario: Downside Risks If the price drops below 0.6660: Bearish Outlook: First Target: 0.6650 Second Target: 0.6635 These levels serve as potential support areas in a bearish scenario. Technical Insights: RSI Indicator: The RSI lacks downward momentum, signaling potential for further upside. This supports the bullish outlook and suggests that selling pressure may be limited. Moving Averages: AUD/USD trading above its short-term moving averages would further confirm the bullish trend if sustained.
by CharivapaAlgo
SasanSeifi|Will 0.66800 - 0.66500 Support the Price Movement?Hey there, ✌ In the 4-hour timeframe, a downward trend is evident from the level of 0.69400. Currently, due to the breakdown of the significant support level at 0.68, the price has corrected to the liquidity zone of 0.67. If the momentum weakens in this price range and the level of 0.67 is maintained, we may witness a ranging trend with minor positive fluctuations. To better understand the continuation of the trend, attention should be given to the price's reaction at levels 0.67500, 0.67800, and 0.68. Overall, our outlook leans more towards a decline and correction towards the target of 0.66800 and the demand zone at 0.66500. It is expected that the price will be able to correct to the desired support levels. Subsequently, if the price maintains the ranges between 0.66800 and 0.66500 and confirms it, we will enter a ranging phase with positive fluctuations. The potential trends are also illustrated in the image above. ⭕The important support levels are 0.66500–0.66. 💢 This is just my personal analysis, not financial advice. If you found this helpful, feel free to like and comment – I'd love to hear your thoughts! Happy trading! ✌😊
by SasanSeifi
2
AUD/USD - Waiting for Confirmation: Inverted Cup and Handle PattAUD/USD - Waiting for Confirmation: Inverted Cup and Handle Pattern AUD/USD is showing a variation of the Inverted Cup and Handle pattern. This pattern looks promising and, from a fundamental perspective, is supported by the likelihood that the FED may avoid aggressive interest rate cuts. For the price to push down further, it needs to move below the support zone of the pattern, which is located near 0.6700, as indicated on the chart. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
10
Risk-on Risk-off Report, October 22, 2024As of October 22, 2024, market sentiment is exhibiting mixed signals, leaning towards a slightly risk-off environment. This sentiment is reflected across various asset classes and economic indicators: Currencies USD, CHF, JPY: These currencies, traditionally considered safe-havens, are seeing moderate strength. Investors are cautious, as geopolitical uncertainties and a slower global economic outlook have pushed market participants toward these lower-yielding, stable currencies. EUR, GBP: The Eurozone is grappling with slow economic growth and recent ECB rate cuts, weakening the Euro. Similarly, the GBP remains under pressure due to mixed economic data from the UK. AUD, NZD, CAD: These commodity-linked currencies are relatively weak due to decreased risk appetite and subdued commodity prices. This trend aligns with a more defensive market stance. Commodities Gold: As a classic safe-haven asset, gold is witnessing steady demand amidst uncertainty, indicating investor caution. Crude Oil & Natural Gas: Prices for crude oil have remained somewhat soft, reflecting concerns about global demand, while natural gas prices have shown some volatility due to fluctuating energy demands. Bond Yields 2-Year Bond Yields: Yields on U.S. and major country bonds have seen marginal declines, as risk-averse investors seek the safety of government bonds. This aligns with the broader risk-off sentiment, reflecting cautious moves away from riskier assets towards bonds in the U.S., Canada, Eurozone, UK, and Japan. Stock Indices U.S., Canada, Eurozone, UK, Switzerland, Australia, Japan: Stock indices are trading with mixed to cautious sentiments. While some indices have seen moderate gains on selective buying, defensive sectors like utilities and consumer staples are attracting more attention compared to high-beta sectors. New Zealand: Stock markets are subdued as the country grapples with an economic slowdown and tighter monetary policy conditions. Cryptocurrencies Total Crypto Market Cap & Bitcoin: The total crypto market cap remains in a consolidation phase, and Bitcoin is holding steady but shows limited upside momentum. Meme coins and high-risk altcoins have seen reduced trading volumes, indicating investors’ reluctance to engage in speculative plays during uncertain times. This market picture points towards a modest risk-off sentiment, driven by global economic concerns and geopolitical uncertainties. Investors are prioritizing safe-haven assets, stable currencies, and defensive stocks while reducing exposure to riskier assets like emerging market stocks and speculative cryptocurrencies.
by AfreeBit
3
AUDUSD at six week lows as sell off extends AUDUSD is trading this morning at .6658 (-0.72%), an almost six-week low, as its bounce to yesterdays .6723 proved short-lived, which coincidentally was the title of the Ozzie article ⬇️ yesterday. The fall in the AUD/USD came as US yields and the USD extended their gains overnight, continuing to price in a higher chance of a Donald Trump election victory and less Fed rate cuts into year-end. If the AUD/USD were to see a sustained break of support at .6650/25, which includes the 200-day moving average, it would open the way for the sell-off to extend towards the next downside support at .6575/60. www.ig.com
by IG_com
AUD/USD: Bearish Outlook with Potential Bullish TurnaroundHello, OANDA:AUDUSD pair appears poised for additional bearish movement, but there’s a strong sense of optimism surrounding a potential bullish turnaround, which is supported by historical patterns. Caution is warranted in this scenario. Key support levels to monitor are 0.665057, 0.656921, and 0.632512. At this moment, further downside seems quite probable. However, a crucial indicator to watch will be if the price crosses and holds above the 1D pivot point, signaling readiness for another upward move. TradeWithTheTrend3344
by TradeWithTheTrend3344
AUDUSD || UpdateBig Moves in Crypto! Bitcoin Eyes $70,000! BTC pumps 10% this week as US elections heat up. Will it hit new all-time highs? Yen Traders Brace Themselves! USD/JPY Hits 150 as Bank of Japan Holds Interest Rates. Big swings ahead for currency traders. What will happen next? Yet more highs for Gold, Silver rises to 12-year High Key Points This week, US leading Indicators, BOC on Wednesday, Eurozone, The UK, and the US PMI’s with Germany’s IFO. Strong US data provides Dollar Strength, and fresh data will further indicate the strength of the Dollar. Wage Salary growth was 6.3% y/y in August. Q3 GDP is unchanged at 3.4% Over 90% of betters say analyze that the Fed will cut interest rates by 25bps in November. The US election is also a factor Technicals Bears cause a 4.16% move lower towards key support formed on Sept, 2024. This move which retraced to the key level at 0.67 . Currently, further downside MAY continue as key support levels below 0.662 and 0.656 MAY provide break and retest opportunities to short the pair Alternatively, a break and retest of resistance levels below at 0.67/0.675 MAY switch the direction of the market. Key Levels 0.685 0.68 0.67 0.695
Short
by deusmanagement
1
AUDUSD / H1 / LONGAUDUSD May Rise from the Bullish Order Block Entry price :- 0.66682 Take Profit :- 0.67032 Stop Loss :- 0.66414 The AUDUSD pair is currently near a bullish order block, with a range between 0.66687 and 0.66580. Based on the principles of Smart Money Concepts (SMC), the price is expected to rise as it taps into this order block, which often signifies areas of institutional buying. Once the price reaches these levels, there is a high probability of a reversal or upward momentum. On the upside, there is a bearish order block between 0.67225 and 0.67074, which may act as resistance if the price begins to rise. Smart Money Concepts (SMC) is a trading strategy that focuses on understanding how institutional traders (banks, hedge funds) move the market. It identifies significant price zones, like order blocks, which often lead to large market movements. Order blocks are areas where "smart money" (large financial institutions) has entered the market. Traders use these zones as potential entry points for trades. This strategy has a high probability of success as it aligns retail traders with institutional trends, which typically control a large volume of liquidity. Keep an eye on how AUDUSD reacts to the bullish order block for an entry, but ensure proper risk management is in place to account for market fluctuations.
Long
by PraveenTrader1
2
Market Analysis: AUD/USD Could Recover In Short-TermMarket Analysis: AUD/USD Could Recover In Short-Term AUD/USD is attempting a recovery wave from 0.6660. Important Takeaways for AUD/USD Analysis Today - The Aussie Dollar found support near 0.6660 and is now recovering against the US Dollar. - There was a break above a key bearish trend line with resistance at 0.6690 on the hourly chart of AUD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair dipped from the 0.6760 resistance zone. The Aussie Dollar declined below 0.6700, but the bulls were active near 0.6660 against the US Dollar. A low was formed near 0.6658 and the pair is now correcting losses. There was a move above the 50% Fib retracement level of the downward move from the 0.6759 swing high to the 0.6658 low. There was also a break above a key bearish trend line with resistance at 0.6690. The pair is now above 0.6700 and the 50-hour simple moving average. On the upside, immediate resistance is near the 61.8% Fib retracement level of the downward move from the 0.6759 swing high to the 0.6658 low at 0.6720. The first major resistance is near a rising channel at 0.6735. A clear upside break above 0.6735 could send the pair toward 0.6760. The next major resistance on the AUD/USD chart is near 0.6780, above which the price could rise toward 0.6800. Any more gains might send the pair toward 0.6820. On the downside, initial support is near 0.6705 or the 50-hour simple moving average. The next support could be the 0.6680 zone. Any more losses might send the pair toward the 0.6660 support. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2