AUDUSD RETESTING FEBRUARY LOWS

26 March 2021 | Updated: 26 March 2021

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

25 March 2021 | Updated: 25 March 2021

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.

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

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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.

AUD/USD Retraces To Level 0.7760, Resumes Upside Momentum

18 March 2021 | Updated: 18 March 2021

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

18 March 2021 | Updated: 18 March 2021

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

2 March 2021 | Updated: 2 March 2021

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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