AUDUSD

Technical Analysis – AUDUSD hovers at 4-year lows, bearish outlook remains

Posted on December 22, 2014 at 8:03 am GMT

AUDUSD has paused its decline and is consolidating near a 4-year low of 0.8105 hit on December 17. Any bounce higher would see immediate resistance at the tenkan-sen line at 0.8239. As long as the market remains below 0.8500, the bearish bias is strong. A break back below 0.8105 would target the May 2010 low of 0.8064 and below this there is scope to reach the 61.8% Fibonacci level of 0.7948 of the upleg from 0.6008 to 1.1078. The underlying [..]

Technical Analysis – AUDUSD pauses downtrend

Posted on December 11, 2014 at 8:14 am GMT

AUDUSD paused its decline and bounced from 0.8223 – a 4-year low – to 0.8374 by early Thursday. The doji candlestick formation on Tuesday represents indecision in the market and signals a potential rebound and a stall in the downtrend. This pause in the decline is also suggested by the RSI which is pointing back up and also the kijun-sen line is flattening out. A correction higher would test the key level at 0.8500. However the underlying trend remains bearish [..]

Technical Analysis – AUDUSD strongly bearish

Posted on December 4, 2014 at 7:59 am GMT

AUDUSD remains bearish as the downtrend continues to new 4-year lows. The pair reached 0.8357 in early European session trading and looks set to head even lower. The decline accelerated after breaking below the 50% Fibonacci level at 0.8546 of the upleg from 0.6008 to 1.1078. The next key technical level that would act as immediate support is seen at 0.8300 and then at 0.8200. To the upside prices are capped at 0.8500. Overall the bias is strongly bearish and [..]

Technical Analysis – AUDUSD bearish below 0.8500

Posted on December 1, 2014 at 8:02 am GMT

AUDUSD opened the week with a gap lower at 0.8465 after closing on Friday above the key 0.8500 level. The trend is bearish and technical indicators suggest the downside bias is still in progress. The tenkan-sen and kijun-sen lines are negatively aligned while the market is below the falling Ichimoku cloud. RSI is in bearish territory below 50. To the upside the 0.8500 level has now become resistance. To the downside the 0.8400 level is seen as the next support [..]

Technical Analysis – AUDUSD hovers at 4-year lows

Posted on November 26, 2014 at 8:20 am GMT

AUDUSD has been falling steadily since the early September high of 0.9400 to reach a 4-year low of 0.8512 on November 25. On the daily chart, the bias remains to the downside as the market is below the Ichimoku cloud and RSI is in bearish territory below 50. The stochastic is approaching extreme oversold conditions, warning of some consolidation in the near-term. This is also shown by the tenkan-sen and kijun-sen liens flattening out. Prices are currently finding support in [..]

Technical Analysis – Aussie, on downtrend, tries to hold 4-year lows

Posted on November 4, 2014 at 8:49 am GMT

The Australian dollar was sold aggressively against the US dollar in August and September, after holding a relatively narrow range between 92 and 95 cents for the previous 5 months or so. The aussie’s slide stopped at 0.8642, which was very near the January 0.8659 low but a fresh 4-year low nonetheless. Currently the aussie is trading below all its key moving averages, which is bearish. The 200-day average is much higher at 0.9162 and this level could cap any [..]

Technical Analysis – AUDUSD upside correction

Posted on October 9, 2014 at 6:54 am GMT

AUDUSD has hit new highs for the 4th day in a row after bouncing off the October 3 low of 0.8641 to trade at 0.8884. Selling pressure has eased and the RSI has turned back up to show that downside momentum has reversed for now. However the bearish MACD signals that this may be a brief correction to the upside. The underlying trend remains bearish as the market is below the 200-day moving average and the daily Ichimoku cloud is [..]

Technical Analysis – AUDUSD pauses decline at 0.8700

Posted on October 2, 2014 at 7:04 am GMT

AUDUSD paused its decline at the key 0.8700 level after briefly breaking below it on Wednesday. The pair has since rebounded to trade up to 0.8820 on Thursday. The underlying market structure is bearish based on the technicals – the market is below the 200-day moving average and below the Ichimoku cloud. Also the tenkan-sen and kijun-sen lines are negatively aligned. MACD is bearish and so is RSI although it is oversold. The 78.6% Fibonacci retracement level of the upleg [..]

Technical Analysis – AUDUSD pauses decline but bearish below 200dma

Posted on September 23, 2014 at 7:48 am GMT

The overall daily trend is bearish, especially after breaking below the 200-day moving average which coincides with the 38.2% Fibonacci at 0.9182. RSI and MACD are in bearish territory, signaling further downside potential. Also the tenkan-sen and kijun-sen lines are negatively aligned and the Ichimoku cloud is falling, highlighting the bearish market structure. AUDUSD found support just above the 78.6% Fibonacci retracement level of the 0.8659 – 0.9503 upleg, at 0.8842. However a break below this level would accelerate a [..]

Technical analysis – AUDUSD room to fall

Posted on September 15, 2014 at 7:08 am GMT

The market structure is bearish. Prices are below the 200-day moving average and are now testing the 61.8% Fibonacci retracement of the January 24 (0.8659) – (July 1) 0.9503 upleg. This level comes in at 0.8984. Downside pressures remain as oscillators show room to fall. The tenkan-sen and kijun-sen lines are negatively aligned. MACD is negative. RSI is now in oversold territory which signals a pause in the decline in the short term. Next daily support is seen at 0.8838 [..]

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