AUDUSD Upside Run Gains Traction for the 2nd Day Amid a Drop in US Yields

AUDUSD Upside Run Gains Traction for the 2nd Day Amid a Drop in US Yields

AUDUSD Price Analysis – April 15

During the trading on Thursday, the AUDUSD regained a positive bias for the 2nd day in a row, with investors now looking for a steady advance toward the 0.7800 levels. Several factors aided the trend, including upbeat market bias and a drop in US yields with a softer mood on the US dollar.

Key Levels
Resistance Levels: 0.8000, 0.7850, 0.7800
Support Levels: 0.7700, 0.7650, 0.7585
AUDUSD Long term Trend: Ranging
The exchange rate is currently surging at $0.7754, attempting to break towards the 0.7800 regions. The AUDUSD may be on the verge of a breakout to its yearly high at 0.8007 high. If the breakout occurs, a surge past the 0.8000 zones is possible in April. However the upside pressure continues, bullish traders would most likely reach the next horizontal resistance line at 0.7800, which is located at the overbought RSI conditions.

A continuous break out of the 0.7650 convergence zone, on the other hand, will confirm the end of the upside run from the 0.7725 level. If the 0.7800 high is retested first, the intraday bias may turn bullish. A breach of the 0.7800 marks, on the other hand, could return the correction lower to the 0.7513 levels.
AUDUSD Short term Trend: Ranging
The intraday bias for the AUDUSD remains unchanged, with the focus shifting from 0.7565 support to 0.7761 resistance. As a result, a continuous breach may indicate that the pullback from 0.8000 was effective. Intraday bias will be moved back to the upside to retest this height.

Breaking the AUDUSD level of 0.7800 will suggests renewed growth from the level of 0.7585. The intraday trend is growing again. And the next target is the long-term level of 0.8000. On the other hand, a dip below the minor support level of 0.7700 could change the bullish bias and trigger sideways trading.

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AUDUSD slides after rejecting 0.7640

AUDUSD slides after rejecting 0.7640

Key Resistance: 0.7640
Key Support: 0.7540

This week the AUDUSD broke with a massive level of support on the daily/weekly and now has retraced back to retest it whilst the USD is rallying hard (+2.33% – 3 week move)

Let´s look at the 2H chart now for the setup.

Price broke with the 0.7640 level whilst trading in a very structured bearish move. This level confluences with the weekly pivot (also rejected) and the 0.382 retracement of the 0.7850-0.7530 move (-4.05%). It also confluences with the 76.4% retracement of the last leg down.

Everything points at a further decline in the Aussie.

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AUDUSD Extends Losses Beneath 0.7600 Level, Upside Capped by Upbeat US Outlook

AUDUSD Extends Losses Beneath 0.7600 Level, Upside Capped by Upbeat US Outlook

AUDUSD Price Analysis – April 1

The AUDUSD pair plunges to the 4th day in a row low on Thursday after buyers repeatedly failed to breach beyond the MA 13 barrier around the mid 0.7600 level. The pair extends losses to 0.7531 low level as the upbeat US economic outlook capped gains for the AUDUSD and prompted some fresh selling at top zones.

Key Levels
Resistance levels: 0.8000, 0.7800, 0.7650
Support Levels: 0.7461, 0.7220, 0.7000
AUDUSD Long term Trend: Ranging
The AUDUSD has breached the minor support level at 0.7557 level at the beginning of the European session. A break lower is a sell signal targeting the sub 0.7500 levels, perhaps as far as strong support at 0.7461 level for profit-taking on shorts. All things being equal, the AUDUSD exchange rate could continue to edge lower during the following trading session.

The potential target for bears would be near the 0.7414 level. In the larger context, while the retracement from the 0.8000 level is ongoing, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long-term consolidation trend. On the upside, a bullish return past the 0.7650 level will return buyers’ confidence to a higher level.
AUDUSD Short term Trend: Bearish
On the 4-hour time frame, the momentum indicators, though, are currently encouraging an ongoing sell-off in the very short-term. The RSI is returning towards the oversold threshold of 30, while the 4-hour moving averages 5 and 13 are falling and above price while still in the negative region.

However, a closing price above the minor resistance at 0.7650 level in subsequent sessions could boost buying interest and confirm additional gains towards the 0.7800 barriers, being high of March 2021. In the event of a solid rebound, the 0.8000 barriers could be the next target which is the resistance identified in February 2021.

 

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AUDUSD RETESTING FEBRUARY LOWS

AUDUSD RETESTING FEBRUARY LOWS

Key Support: 0.7570
Key Resistance: 0.7700 – 0.7750 – 0.7850

The AUDUSD has again rejected the 0.7520 level after dipping almost 300 pips (-3.74%) from March 17 highs and 445 pips (-5.60%) from the February 25th highs.

The AUDUSD is still very much in a big bullish move and this level of support is capping the downside giving us a high probability setup here.

More so because we are trading inside of a wedge and price is about to break to the upside whilst printing heavy bullish divergence.

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Amid Weaker Greenback, AUDUSD Registers Short-Covering Rebound

Amid Weaker Greenback, AUDUSD Registers Short-Covering Rebound

AUDUSD Price Analysis – March 25

Early in the session on Thursday, the AUDUSD pair recovered after plunging to lows of $0.7578 level, however on a short-covering rebound on the pair is erasing much of the overnight losses after hitting its lowest since early February.

Key Levels
Resistance levels: $0.7800, $0.7725, $0.7650
Support Levels: $0.7557, $0.7461, $0.7414

AUDUSD Long term Trend: Ranging
The exchange rate is currently in a rebound at $0.7578 in an attempt to surpass the prior day’s high. AUDUSD may be poised for a breakout towards the MA 50 at the $0.7650 level. If the breakout emerges a surge to the 0.8000 level within this session may be anticipated. If the downward pressure holds though, bearish traders are likely to hit the next horizontal support line at 0.7461 level at oversold conditions of the RSI.

Meanwhile, an increased rally past the horizontal resistance level upside (now at 0.7650) may be seen. It might stay the optimal scenario given that it remains beyond the ascending trendline support (now at 0.7578). Continuous trading below the 0.7600 marks, though, may shift the emphasis back to a low level beneath 0.7578 afterward.
AUDUSD Short term Trend: Bearish
On the 4-hour timeframe, AUDUSD is actively reversing its downside movement from 0.7578 after a rebound. The pair was last traded in the 0.7600 area, practically unchanged over the day. A break above the MA 13 at 0.7620 is expected, followed by a return above the 0.7650 level.

Breaking the AUDUSD level of 0.7650 will suggests renewed growth from the level of 0.7578. The intraday trend is growing again. And the next target is the long-term level of 0.7800. On the other hand, a dip below the minor support level of 0.7557 could change the bearish bias and trigger sideways trading.

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AUD/USD Retraces To Level 0.7760, Resumes Upside Momentum

AUD/USD Retraces To Level 0.7760, Resumes Upside Momentum

Key Resistance Levels: 0.8000, 0.8100, 0.8200
Key Support Levels: 0.7700, 0.7600, 0.7500

AUD/USD Price Long-term Trend: Bullish
The AUD/USD pair is in an uptrend. The uptrend is facing resistance at level 0.8000. On February 25 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the price will rise to level 2.618 Fibonacci extensions or level 0.8697 .

AUD/USD – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 52 of the Relative Strength Index period 14. This indicates that the pair is now in the uptrend zone and above the centerline 50. The pair has room to rally on the upside.

AUD/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair fell to level 0.7700 and resumed a fresh uptrend. On March 17 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.618 Fibonacci extensions or level 0.7942.

AUD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The AUD/USD pair is currently below the 80% range of the daily stochastic. It indicates that the pair is in the bearish momentum. The SMAs are sloping upward indicating an uptrend.

General Outlook for AUD/USD
The AUD/USD pair is in an uptrend. Presently, the pair is retracing on the downside. The uptrend will resume as soon as price finds support above the 21-day SMA.


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AUDUSD dip buys in play

AUDUSD dip buys in play

Key Support: 0.7796
Key Resistance: 0.7850 – 0.7900

Mid Term View
The AUD has rallied 14.6% against the USD from the lows printed in October 2020, then it pulled back 4.80% from the highs in February 2021 to retest the 0.7650 level.

The long term view here is bullish.

1H Chart Analysis
Yesterday the AUDUSD broke with a heavy resistance level and last week´s highs continuing its bullish move above the 0.7800 level.
We went long yesterday and our targets got hit at that exact level of resistance.

Now that price has broken with that level we are looking for a new long trade at the retest of the previous level. We need price to break with the immediate bearish/pullback structure by trading above the previous highs (0.7823)

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AUD/USD Downside capped by last weeks lows

AUD/USD Downside capped by last weeks lows

Key Support: 0.7720
Key Resistance: 0.7900

Long Term View
Bullish, extremely bullish. The Aussie is the one of the currencies that has outperformed the US Dollar since the pandemic back in March 2020. The rally we have seen since November is a massive 100 pip run (+14.5%).

1H Chart Analysis
The move from the highs is just a 330 pip move (-4.12%. The downside of this move is capped by the 0.7700 + 61.8% retracement of the the entire bullish move + last week´s lows.

The AUD is very strong today against the USD with the last 1H candle engulfing the last 9 candles, so a break of yesterday´s highs (this week´s highs) should prompt a bullish run  above the weekly pivot and the 0.7815 level (January 2020 highs).

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