AUDUSD

Technical Analysis – AUDUSD resumes downtrend?

Posted on January 19, 2016 at 8:08 am GMT

AUDUSD has fallen sharply since its December highs above 0.7300. The pair has breached key support, the September 2015 low of 0.6906, to fall to a new multi-year low of 0.6826 last week. The market has been consolidating since then but the daily technical indicators are bearish. The tenkan and kijun lines are negatively aligned and the Ichimoku cloud is falling. There is scope to target the October 2008 low of 0.6008. RSI is in bearish territory and not yet [..]

Technical Analysis – AUDUSD ends year in consolidation mode above 0.7000

Posted on December 31, 2015 at 7:47 am GMT

AUDUSD bounced higher early on Thursday to test the key 0.7300 level but this appears to be acting as strong resistance and prices have been consolidating around this level. On the last trading day of 2015 it is unlikely that there will be any substantial moves. Looking at the bigger picture, AUDUSD has retraced more than half of the rise from 0.6008 (October 2008) to the all-time high of 1.1078 reached in July 2011. The pair is now consolidating around [..]

Technical Analysis – AUDUSD tumbles after breaking cloud top support

Posted on October 28, 2015 at 7:23 am GMT

AUDUSD was finding support at the top of the Ichimoku cloud in the past week around 0.7200. This support level failed on Wednesday and prices tumbled into the cloud and dipped below it to reach 0.7110 after Australian CPI data missed forecasts and came in lower. The intra-day bias is bearish as RSI has turned negative and fell below 50. Prices are also below the 50-day moving average. The market has retraced just over 50% of the rise from 0.6935 [..]

Technical Analysis – AUDUSD rises above 0.70 but bearish in descending channel

Posted on September 16, 2015 at 6:47 am GMT

AUDUSD made a recovery from multi-year low of 0.6906 and breached the key psychological level of 0.7000 to rise to 0.7165 today. The upside move is not likely to continue much longer as the market is still in a downtrend and in a descending channel. Also, prices are below a falling Ichimoku cloud and below the 200-day moving average. These are bearish signals. Also the tenkan-sen line is below the kijun-sen line and this is also bearish. Meanwhile, the 200-day [..]

Technical Analysis – AUDUSD bearish in descending channel

Posted on September 1, 2015 at 6:57 am GMT

AUDUSD remains in a descending channel on the daily chart and is below the daily Ichimoku cloud. These highlight the underlying bearish market bias. Meanwhile, the RSI is also bearish below 50. Looking at the bigger picture, the weekly chart shows that AUDUSD has fallen sharply from 0.9400 to retrace 76.4% of the upleg from 0.6008 to 1.1078. A break below 0.7038 would accelerate a further decline and target the low of 0.6008. A move to the upside would find [..]

Technical Analysis – Bearish outlook for AUDUSD

Posted on June 16, 2015 at 7:17 am GMT

AUDUSD has been capped by the 61.8% Fibonacci retracement level of the rise from 0.7532 to 0.8162. This level lies at 0.7772. Meanwhile, the market is below the daily Ichimoku cloud which gives a bearish outlook. The RSI is below 50 in bearish territory and this also highlights the downside bias. The tenkan-sen line is below the kijun-sen line which increases the possibility of a fall in prices. Targets to the downside are the 76.4% Fibonacci at 0.7666 and the [..]

Technical Analysis – AUDUSD intraday upside momentum strong after RBA

Posted on June 2, 2015 at 7:16 am GMT

AUDUSD rallied to 0.7708 early on Tuesday after the RBA held rates unchanged. The immediate bias is to the upside since momentum is strong – RSI is above 50 on the hourly chart and prices are above the hourly Ichimoku cloud. On the daily chart, today’s move higher is still seen as a correction to the down trend from 0.8162 to 0.7597. The market is below the daily Ichimoku cloud and will likely find resistance from the lower cloud level [..]

Technical Analysis – AUDUSD extends rally above cloud

Posted on May 14, 2015 at 7:17 am GMT

AUDUSD surged on Wednesday after being in a consolidation pattern since the beginning of May. Prices were hovering around 0.7937 which is the March 24 high. Yesterday prices cleared this level and closed above it and extended higher today to 0.8162 in early European session trading. Upside momentum appears strong and this is also highlighted by the rising tenkan-sen and RSI. Meanwhile, the market is above the daily Ichimoku cloud and this is also a bullish signal. To the upside, [..]

FX Daily Outlook

Posted on April 29, 2015 at 7:25 am GMT

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Technical Analysis – AUDUSD breaks out of range with strong upside momentum

Posted on April 29, 2015 at 6:37 am GMT

AUDUSD broke key resistance of 0.7937 after a strong move higher on Tuesday. Momentum is still strong as the RSI rose well above the 50 level. In the near term it appears that the market has broken out of its range that it has been in since the end of March and the bias has shifted from neutral to the upside as prices are now above the daily Ichimoku cloud. This is a bullish signal. For now a medium term [..]

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