AUDUSD Upside Move Capped by 0.7650 Barriers Despite USD Weakness

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


AUDUSD Price Analysis – April 8

The AUDUSD pair remained above 0.7600 level for the first half of Thursday’s trading, but without gaining any firm upside traction while being capped by the barrier at 0.7650. The rise was aided by the current risk-on mood, which weakened the US dollar’s safe-haven status and boosted perceived riskier currencies, such as the Australian dollar.

Key Levels
Resistance Levels: 0.7850, 0.7725, 0.7650
Support Levels: 0.7531, 0.7461, 0.7220
AUDUSD Long term Trend: Ranging
On the daily AUDUSD time frame, we can see that the moving averages of 5 and 13 are under the trendline resistance which acts as a barrier. Bulls are also keeping an eye on the new 0.7650 level high for a possible upside breakout.

In terms of technical analysis, a simple split beyond the barrier at 0.765 favors bulls going north. RSI conditions, on the other hand, may pose a challenge to the bulls after that. As per the RSI trading beneath its midlines of 50, it signals a more consolidative stance and likely declines on the downside.
AUDUSD Short term Trend: Ranging
From level the end of the prior month, the AUDUSD has been trading horizontally, with an initial ranging intraday bias. To extend the correction to the 0.7650 zones, at least one more shift down is necessary. It’s worth noting that the high RSI conditions past the midline zone increase the likelihood of the pair moving higher.

A break of the 0.7557 level on the downside might move the downside bias from 0.5506 to 0.7064 at 0.6462 levels for a 38.2 percent retracement. AUDUSD is turned neutral as it retreated after hitting 0.7650. Another rise is mildly in favor as long as 0.7557minor support holds. Above 0.7650 will resume the rebound from 0.7531 short-term bottom to 0.7850 resistance.

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *