1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

AUDUSD currency pair

Discussion in 'Major Currency Pairs' started by Fxtrader88, Nov 30, 2015.

  1. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]

    The AUD/USD pair fell during the course of the day on Friday, reaching below the 0.72 handle. We believe it’s only a matter of time before this market pulls back anyways, as the weekly candle is a shooting star. The market should then reach down towards the 0.70 level, which has been rather supportive in the past. We think that it could be volatile on the way back down to that level, but it is only a matter of time and therefore we are bearish and willing to sell breakdowns and of course rallies that show signs of exhaustion.
     
  2. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    The AUD/USD pair fell significantly during the course of the week, testing significant support near the 0.72 level. Ultimately, this is a market that looks like it will continue to be fairly volatile, and as a result it’s going to be difficult to trade this market from a longer-term perspective, so having said that we believe that you will have to look to short-term charts in order to start going into the market again. At this point in time though, we will continue to pay attention to longer-term chart simply to see if there’s any hint of a trend change.
     
  3. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]

    The AUD/USD pair fell significantly during the session on Tuesday, as we continue to chop around in this market. There is a significant amount of support just below at the 0.7150 level, so we believe that the market could very well bounce from here. However, if we break down below the lows of the session, the market could very well try to reach back towards the 0.70 handle. Ultimately, the markets again be very volatile and quite frankly it’s probably going to be a very difficult day to trade the Australian dollar.
     
  4. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    Our preference: long positions above 0.711 with targets @ 0.7185 & 0.7215 in extension.Alternative scenario: below 0.711 look for further downside with 0.709 & 0.7065 as targets.Comment: the RSI is well directed.
     
  5. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    AUDUSD stayed in the trading range between 0.6907 and 0.7439 for several months. As long as 0.7439 resistance holds, the price action in the range could be treated as consolidation of the long term downtrend from 0.9504 (Jul 1, 2014 high), another fall towards 0.6500 is still possible after consolidation.
     
  6. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    The AUD/USD pair had a slightly positive candle form during the week, as we found a bit of support near the 0.68 handle. At this point in time, breaking down below the uptrend line from a couple of weeks ago appears to show that the market is going to continue to see selling pressure. If we can get a resistant candle above, we would not hesitate to start selling. We are not necessarily interested in buying the Australian dollar, as there are a lot of concerns of slowdown in China.
     
  7. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    The AUDUSD failed to extend the correction below 0,7000 before propelling higher forming a positive outside day with 0,7200 – 0,6990 the levels to follow in the coming hours. A daily closing above 0,7200 will support further strength.
     
  8. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    The AUDUSD confirmed a strong closing again above the top of the previous session after the expected test of the resistance line, or just below of it, at 0,7250
     
  9. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    Intraday bias in AUD/USD is neutral for the moment. Rebound from 0.6826 is still viewed as a correction. Break of 0.7001 minor support will turn bias back to the downside for retesting 0.6826 low. Above 0.7241 will bring another rise.
     
  10. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    Currently, the AUD/USD pair rises 0.57% to 0.7113, having posted fresh session highs at 0.7118 last minutes. The ongoing recovery in the oil and European markets combined with increased demand for higher-yielding currencies drove the Aussie 80-pips higher from daily lows struck at 0.7038 in early Asia.
     
  11. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    AUD/USD's rise from 0.6826 continued last week and reached as high as 0.7582 so far. Initial bias is on the upside this week. Such rise should target medium term fibonacci level at 0.7849.
     
  12. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    AUD/USD's really continued last week and reached as high as 0.7679 so far. Further rise is expected this week as long as 0.7414 support holds. Rebound from 0.6826 might target medium term fibonacci level at 0.7849.
     
  13. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    The AUD/USD pair had a fairly volatile session on Monday, but ultimately settled on a relatively negative candle. Because of this, it looks like the markets probably going to have to pullback in order to find enough buyers to increase momentum.
     
  14. Fxtrader88

    Fxtrader88 New Member

    Joined:
    Nov 24, 2015
    Messages:
    81
    Likes Received:
    2
    Gender:
    Male
    Location:
    Latvia
    [​IMG]
    The AUD/USD pair initially tried to rally during the course of the session on Friday but turn right back around to test the 0.75 level. There is a massive amount of support all the way down to the 0.74 level, so having said that we are simply waiting to see whether or not we can get a supportive candle to turn the market back around
     
  15. sininfinity

    sininfinity Active Member

    Joined:
    Apr 4, 2014
    Messages:
    645
    Likes Received:
    7
    Looks like AUD/USD is ranging and also loosing momentum. Will most probably end up creating a triangle. I have a bullish view AUD/USD in coming days.
     
Loading...

Share This Page