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AUDUSD Technical Analysis

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AUDUSD Short Entry Limit Order

The Australian dollar is a real mess at the moment, as we continue to bounce around in general, hanging about the 0.75 handle. This is a market that does have an upward bias to it, but it is noisy and choppy to say the least. Gold markets have been showing signs of resiliency again, so that could bring money back into the Australian dollar, but recently we have seen the Reserve Bank of New Zealand suggest that perhaps they will have to cut interest rates. This of course has a bit of a “knock on effect” in the Australian dollar itself (AUDUSD Technical Analysis).

AUDUSD Technical Analysis 1

AUDUSD Short Enough Consolidated

We are trading @ the EMA 200 near the falling long term trendline @ 0.7613 Trading below that trendline is still bearish. Trading above 0.767 will brighten the short term Chart – trading above 78.4 could cause a long term Turnaround. Should the illustrated short term-trend break (@ 0.745) TP1 could be the midterm trendline @ 0.733. A break of this Level would initiate a selling wave down to 0.715. Trading below 0.715 will perhaps cause a selloff to 0.689/ 0.68 (AUDUSD Technical Analysis).

AUDUSD Technical Analysis 2

AUDUSD Bearish Cypher & Bat

On the AUDUSD 1h chart we 2 potential trade opportunity’s at the D leg completion of a Bearish Bat & Cypher. Bearish Bat Setup ( Blue ) – D leg completion .7505 Bearish Cypher Setup ( Grey ) – D leg completion .7498 Bullish Bat: Stop loss would be placed above X leg structure resistance. Bearish Bat: Stop loss would be placed above X leg structure resistance.

AUDUSD Technical Analysis 3

AUDUSD Technical Analysis

On the upside, 0.7500-0.7515 region seems to act as immediate strong resistance, above which the pair is likely to extend the recovery trend towards 0.7565 horizontal resistance before heading towards its next major resistance near 0.7600-0.7610 area. Meanwhile on the downside, 0.7450-40 region has now emerged as immediate support, which if broken is likely to drag the pair immediately towards 50-day SMA support near 0.7410-0.7400 region.

AUDUSD Technical Analysis

AUDUSD Bullish Shark On demand

The US Dollar was trading broadly weaker on Monday, with the AUDUSD pair attempting a rebound to currently trade back around 100-day SMA region and inching closer to 0.7500 handle. Last week the pair witnessed an intense selling pressure after RBA minutes that opened doors for further rate-cut in the near-future in order to support the economy and eliminated deflationary pressure. Hence, this week Australian CPI report on Wednesday would be crucial to determine if RBA would go ahead and cut interest rates in August.

AUDUSD Technical Analysis 5

We shifted to a neutral stance last Tuesday and expected the pull-back in AUD to extend lower to 0.7445. While this level was tested and held last Friday with a low of 0.7443, the immediate pressure is still on the downside and further decline towards the next major support at 0.7400 would not be surprising. Overall, this pair is expected to remain under pressure unless it can reclaim the strong 0.7530 resistance.

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Andrew Pial

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