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AUDUSD

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Technical Analysis – AUDUSD looking bearish

Posted on April 29, 2014 at 8:16 am GMT

AUDUSD is looking bearish after falling below the 20, 50 and 100 period moving averages on the 4-hour chart. The RSI is below 50 in bearish territory and calls for further downside. The pair is riding the lower Bollinger Band. After rejecting resistance at 0.9315, the pair fell below support-turned resistance at 0.9261. Next support is seen at 0.9204 (April 3 low). To the upside above 0.9261, the pair will target resistance at 0.9315 and 0.9357. Overall, the pair is [..]

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Technical Analysis – AUDUSD bearish bias

Posted on April 23, 2014 at 9:07 am GMT

AUDUSD is notably lower today, dropping around 1.0% after weaker than expected Australian inflation data. The violation of the 0.9357support level today accelerated a decline to 0.9269 where the price currently stands. Further downside on the 4-hour chart would target support at 0.9252 and below this at 0.9204. Resistance is strong at 0.9314, 0.9357 and 0.9400. RSI is indicating downside momentum and has fallen below 50 while the stochastic is approaching 20, near oversold territory. Overall, the near-term bias is [..]

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Technical Analysis – AUDUSD steady along key 0.9400 level

Posted on April 14, 2014 at 8:46 am GMT

AUDUSD is pivoting along the key 0.9400 level and supported by its 20-period moving average on the 4-hour chart. The pair retreated from a 4-month high of 0.9460 hit on April 10 but remains bullish above 0.9350. The 20, 50 and 100-period moving averages are all positively aligned and RSI remains above 50 although has flattened out. MACD is still in bullish territory. To the downside, support is found at 0.9360 and 0.9320. A decisive break above 0.9400 would open [..]

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Technical Analysis – AUDUSD bullish in rising channel

Posted on April 10, 2014 at 9:49 am GMT

AUDUSD is strongly bullish and hit a fresh 4-month high of 0.9460 today. Prices have been rising within the channel since April 7 and trading above the 20 and 50-hour moving averages. Strong bullish momentum gives the pair scope to target 0.9541 (November 6 high). The hourly RSI and stochastic are both approaching overbought territory which could lead to a correction in the market. A downside move will target support at 0.9398. A decisive break below this will lead to [..]

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Technical Analysis – AUDUSD bullish trend

Posted on April 9, 2014 at 7:45 am GMT

AUDUSD maintains its bullish trend and hit a new 4 ½ -month high today at 0.9385. There was a bullish crossover of the 50-day moving average with the 100-day moving average, which is also positive for the AUD. The daily RSI is strongly bullish at 71. The pair is resting just above the 61.8% Fibonacci retracement level of the downleg from 0.9756 (October 23 high) to 0.8659 (January 24 low). This level at 0.9337 is providing immediate support for the [..]

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Technical Analysis – AUDUSD bullish

Posted on April 7, 2014 at 9:07 am GMT

The uptrend from January 24 is intact. AUDUSD is currently neutral and trading between 0.9204 and  0.9306. (April 4 high and March 3 low, respectively) Technical indicators on the 4-hour chart are bullish. RSI is above 50 and the stochastic is no longer overbought. Moving averages (20SMA and 50SMA) are positively aligned. To the downside, a break below 0.9204 (April 3 low) would cancel the bullish scenario. Next support comes in at 0.9153 (March 26 low). To the upside, a [..]

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Technical Analysis – AUDUSD retreats from 4-month high

Posted on March 31, 2014 at 7:35 am GMT

AUDUSD hit a four-month high of 0.9294 on March 28 but was unable to sustain gains at this level and has subsequently retreated. The daily RSI reached overbought levels on Friday before momentum eased slightly. The market is currently resting just above the 50 % Fibonacci of the downleg from October 23 (0.9756) to January 24 (0.8659). Prices have broken above the 200-day moving average which is a bullish signal and the MACD is in bullish territory above zero.  At [..]

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Technical Analysis – AUDUSD consolidates

Posted on March 21, 2014 at 8:18 am GMT

AUDUSD has been consolidating above the 23.6% Fibonacci retracement (0.8916) of the downleg from Oct 23 (0.9756) to Jan 24 (0.8659). The pair is currently trapped between its 200-day and 50-day moving averages. There is immediate resistance at the 38.2% Fibonacci at 0.9078 while the key psychological level at 0.9000 is an important support level in the short term. A breach of this level would see the pair move back down towards the 23.6 Fibonacci at 0.8916. All-in-all, the pair [..]

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Technical Analysis – AUDUSD looking bearish

Posted on March 4, 2014 at 9:45 am GMT

AUDUSD is looking bearish after the RBA policy decision on Tuesday to keep rates on hold at 2.5% and signaled that the AUD is historically too high. The bigger picture shows the downtrend is still strong as the pair only managed to retrace 38.2% of the move down from 0.9756 (October 23 high) to 0.8659 (January 24). The 38.2% Fibonacci level at 0.9076 proved to be strong resistance and capped the market at this level and prices moved down to [..]

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Technical Analysis – AUDUSD struggles to rise

Posted on February 20, 2014 at 9:51 am GMT

AUDUSD has been in a downtrend since October 23 until January 24 (more-than 3 ½ year low) when it bounced back up to retrace 38.2% of the downleg from 0.9756 to 0.8659. Following this rally from the January low, the market has consolidated between the 23.6% (0.8916) and 38.2% (0.9076) Fibonacci levels this month, with each level providing support and resistance respectively. The 55-day moving average is also acting as support. Technical indicators are currently neutral. The RSI has flattened [..]

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