AUDUSD

Technical Analysis – AUDUSD neutral bias after finding resistance at 0.75

Posted on June 17, 2016 at 7:21 am GMT

AUDUSD attempted to retrace half of the downleg from 0.7833 to 0.7144, only to find strong resistance at the key psychological 0.7500 level last week. This level is also close to the 50% Fibonacci of the slide from April to May. Support is being provided by the 0.7300 level, close to the 23.6% Fibonacci. In the short term AUDUSD has a neutral bias, with the pair trading sideways just below the 38.2% Fibonacci of 0.7408. The recent upside momentum has [..]

Technical Analysis – AUDUSD bounces back above key 0.73 level

Posted on May 17, 2016 at 7:23 am GMT

AUDUSD bounced from 0.7244 to rise back above the key psychological level of 0.7300. Prices are now hovering around the 50% Fibonacci at 0.7335, which is the retracement of the upleg from 0.6826 to 0.7833. In order to say that the pair has based at the low of 0.7244, a daily close is needed above the 50% Fibonacci. Prices would need to clear resistance provided by the 200-day moving average at 0.7418 to increase the odds of a more sustained [..]

Technical Analysis – AUDUSD pauses recent bullish trend, drops below 0.77

Posted on April 27, 2016 at 7:28 am GMT

AUDUSD is seeing a shift from the recent bullish bias after breaking below the key 0.77 level this morning. The pair staged a strong rally from the January low of 0.6826 to the April high of 0.7833. Prices are now targeting another key level at 0.7600. This also happens to be the 23.6% Fibonacci retracement level of the upleg from 0.6826 to 0.7833. If this support fails, the next target support level would be the key 0.7500 level. If the [..]

Technical Analysis – AUDUSD neutral bias below 0.77

Posted on April 14, 2016 at 7:42 am GMT

AUDUSD has had a short term neutral bias in the last couple of weeks. The pair has been trading in a broad range of 0.7500 – 0.7700 since early March. After a decent rally from 0.6826 to a 9-month high of 0.7722, the market approached overbought levels (RSI reached 70) and consequently there was consolidation after this move. After several tests of the key 0.77 level, prices have failed to make a daily close above this level, which is acting [..]

Technical Analysis – AUDUSD bullish above 0.7500

Posted on March 21, 2016 at 7:56 am GMT

AUDUSD retains its bullish outlook especially after the 50-day moving average crossed above the 200-day moving average last week, which is a bullish signal. As long as the market remains above 0.7500, there is scope for prices to extend higher towards 0.7700. MACD is above zero and rising, supporting a bullish bias. In the near term, the market is likely to consolidate after the recent rally stopped at 0.7679 on Friday. RSI reached overbought levels, which indicates a pullback was [..]

Technical Analysis – AUDUSD retains neutral outlook around 0.72

Posted on March 2, 2016 at 9:18 am GMT

AUDUSD retains a neutral long term outlook as the pair pivots around the key 0.7200 level. After declining sharply from the May 2015 high of 0.8162, the market has stalled and traded sideways since September. The range is defined by the January low of 0.6826 and the December high of 0.7384. The 50 and 100-day moving averages have levelled off which also highlights the lack of direction in the market for now. Looking at the short term, AUDUSD staged quite [..]

Technical Analysis – AUDUSD bullish bias above 0.72

Posted on February 23, 2016 at 8:24 am GMT

AUDUSD rallied sharply on Monday to rise above the key level of 0.7200 to hit its highest level since January 4 at 0.7246. There is potential for more upside movement in this pair since the technical indicators are giving bullish signals – MACD is above zero and rising and RSI is above 50. Prices would target resistance at the 200-day moving average which is around 0.7276. Support is at the key 0.7200 level. If this support fails this would weaken [..]

Technical Analysis – AUDUSD remains neutral above 0.7000

Posted on February 18, 2016 at 8:25 am GMT

AUDUSD maintains a neutral bias on the daily chart at the moment, bottoming out around the key 0.7000 level after declining from the May 2015 high of 0.8162. The horizontal 50 and 100-day moving averages indicate this sideways trend in the market. As long as prices remain above 0.7000, the outlook will remain neutral but could turn more bullish if there is a daily close above 0.7200. This would give scope to rise above the 200-day moving average to break [..]

Technical Analysis – AUDUSD finds strong resistance at moving averages and Fibonacci level

Posted on February 1, 2016 at 7:57 am GMT

AUDUSD is being capped at a very strong resistance level where there is a confluence of moving averages and Fibonacci levels. This resistance level lies at 0.7140. It is the 23.6% Fibonacci retracement level of the downleg from 0.8162 to 0.6826. (May 2015 to January 2016 decline). Also this is where the 100 and 50 day moving averages converge. Therefore the rally that started from the January low of 0.6826 stopped at 0.7140 on Friday. There is now a reversal [..]