AUDUSD: Aussie Plunge on Negative Employment Figures, Runs into Sellers Around the Level at 0.6847

AUDUSD Price Analysis – November 14

Early in the European session, the Australian dollar plunged versus the dollar, deeper past the horizontal line on the level at 0.6810 critical area and has recorded a fresh low in one month. The recent release of the employment figures showed that it had slipped lower and it is the largest in the past three years.

Key Levels

Resistance Levels: 0.7205, 0.7085, 0.6929

Support Levels: 0.6776, 0.6710, 0.6670

AUDUSD Long term Trend: Bearish

In a volatile session, AUDUSD price traded on the downside below the previous day’s low as well as below the horizontal line on the support level at 0.6776. In the longer term, the scenario for medium-term bullish reversal has almost played out.

Meanwhile, for as long as the level at 0.7085 resistance is intact, a larger downtrend from the level at 0.7205 (high) is still in progress towards the level at 0.6710 (low). Although the FX pair displays for the time being (as per its medium-term ranging) with the long-term pattern as yet being bearish.

AUDUSD Short term Trend: Bearish

The breakout of the 0.6810 level by the AUDUSD gives the tilt that the corrective recovery after the level at 0.6670 has already completed at the 0.6929 level. Its intra-day bias has eased out and now towards the level at 0.6670.

Even though a break may allow a deeper downward trend. However, in its upward zone, above the 0.6847 level, short-term resistance could change its neutral intraday bias and provoke recovery. However, the risk may remain down as long as the resistance level at 0.6929 is intact.

Instrument: AUDUSD
Order: Sell
Entry price: 0.6810
Stop: 0.6929
Target: 0.6710

Note: Learn2Trade.com 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

AUDUSD Moves to Retest the Resistance with Renewed Buying from the Key Support

AUDUSD Price Analysis – November 7

The Aussie dollar pair moves ahead as the pair finds buyers early in the European session while still stuck in a tight trading range. Although the FX pair had appreciated about 48 pips versus the US Dollar, the dominant indicators display its likely the exchange rate may attempt to decline in subsequent trading sessions.

Key Levels

Resistance Levels: 0.7205, 0.7085, 0.6955

Support Levels: 0.6810, 0.6723, 0.6670

AUDUSD Long term Trend: Bullish

The FX pair long term trend bullish reversal is in progress with bullish convergence structure in place on the daily moving average 5 and 13. However this scenario is not confirmed yet, so we’d stay with the intact bullish trend in the long term.

With the resistance on the horizontal zone on the level at 0.7085 staying intact, the extended downtrend from the level at 0.7205 (high) is still expected to continue to the level at 0.6670 (low). Meanwhile, the decisive break of the level at 0.7085 may validate medium term bottoming and start the resumption of the rally past the level at 0.7205.

AUDUSD Short term Trend: Bullish

In the short term, the AUDUSD intraday bias is consolidating from the near term resistance level at 0.6929 while staying neutral at first. On the flip side, if a decline should occur we may see its limitation by the level at 0.6810 support.

Again further past near term resistance on the level at 0.6929 may target the level at 0.6955 minor resistance. After trending lower to the level at 0.6861 earlier in the session, the AUDUSD pierced through the key technical support turned resistance level at 0.6882.

Instrument: AUDUSD
Order: Buy
Entry price: 0.6882
Stop: 0.6723
Target: 0.7085

Note: Learn2Trade.com 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

AUDUSD Plunges After Hitting the Top Zone on the Level at 0.6929

AUDUSD Price Analysis – October 31

The AUDUSD has retreated after hitting the horizontal zone on the level at 0.6929 early in the European session. The top zone reached is the highest point since July 26th, as buyers had initial dominance lifting the pair higher before plunging past below horizontal zone on the level at 0.6895.

Key Levels

Resistance levels: 0.7205, 0.7085, 0.6955

Support Levels: 0.6847, 0.6723, 0.6671

AUDUSD Long term Trend: Bullish

In the long term picture, the scenario for a medium-term retracement is information. However its yet to complete there. Although for as long as the level at 0.7085 resistance remains, the bigger fall from the level at 0.7205 (high) is still expected to continue to 0.6671 (low).

However, a decisive break of the level at 0.7085 may confirm medium term bottoming and reactivate a solid rally from there, meanwhile, the pair is still in a long-term downtrend, the short and long-term outlook has turned bullish already.

AUDUSD Short term Trend: Bullish

The AUDUSD is trending lower while testing the horizontal zone on the level at 0.6882 with the support defined by the 4-hours moving average 13 while posting the session low.

Although the FX pair may continue its upward momentum while it’s also likely for it to make a short retracement coming in around the level at 0.6847 support. The intraday bias is at the upside for a retest of the level at 0.6955 key resistance next. Otherwise, its outlook may remain bearish in case of reversal.

Instrument: AUDUSD
Order: Buy
Entry price: 0.6882
Stop: 0.6810
Target: 0.6955

Note: Learn2Trade.com 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

AUDUSD Retraces Further from the Level at 0.6882 After a Halt of the Bullish Momentum

AUDUSD Price Analysis – October 24

The Australian dollar is trading past the prior day’s range, and its current price has decisively moved beyond the previous day’s low in an active session. Its recent downside momentum is as a result of a halt at its advance above the horizontal level at 0.6882, and that may see sellers regain near-term control again.

Key Levels

Resistance Levels: 0.7085, 0.6955, 0.6895

Support Levels: 0.6810, 0.6723, 0.6671

AUDUSD Long term Trend: Bearish

The FX pair is trending downwards with its focus for the downside as shown on the daily for the 3rd day in a row and lending credence to the scenario is the lower closing price recorded, although the AUDUSD is in a long-term bearish trend, the short and long-term outlook have both turned bullish already.

Focusing on the bearish view, below the level at 0.6810 minor support may change its bias again to the downside for the level at 0.6723. A break there may bring a retest of the level at 0.6671 low. Meanwhile, the firm break of the level at 0.6895 may fault the bearish pattern and change focus back to the level at 0.7085 key resistance.

AUDUSD Short term Trend: Ranging

For AUDUSD short term outlook, the price is seen to fall to a four-day low after buyers failed to regain back near-term control while sellers leaned on the moving average 5 (red line) earlier today for price action.

The FX pair is presently moving towards a support cluster formed by the horizontal zone on the level at 0.6810 and If the support cluster holds, the bulls may control the trend within this trading session.

Instrument: AUDUSD
Order: Sell
Entry price: 0.6860
Stop: 0.6895

Note: Learn2Trade.com 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

Selling Pressure Stopped on AUDUSD and Breakout Moves to Session Highs Below the Key Near-Term Level at 0.6860 Resistance Region

AUDUSD Price Analysis – October 17

The AUDUSD price is now moving towards a test of the key near-term resistance region around the level at 0.6860, after recovering from the low level at 0.6723 in the prior session. The exchange rate might continue to edge higher until it reaches the formed barrier on the horizontal zone on the level at 0.6860.

Key Levels

Resistance Levels: 0.7205, 0.7085, 0.6895

Support Levels: 0.6723, 0.6710, 0.6671

AUDUSD Long term Trend: Bullish

As shown on the daily, the FX pair is likely to close above its opening price today after recovering from the prior selling pressure, trending to about 72 pips higher after the open, the forex pair might end the session higher as bulls took control early in the day above its opening price.

However, If the resistance level stays unbreached, the AUDUSD pair will most likely make a brief pullback within this session, although the outlook is still in a longterm bearish condition, the short and medium-term trends both turned bullish already.

AUDUSD Short term Trend: Bullish

On the 4-hour time frame, it’s intraday bias has turned bullish already, while recovering from the level at 0.6710, its price actions from the level at 0.6671 are viewed as a corrective one.

Meanwhile just over the level at 0.6810 will extend the rebound further but the upside should be limited by the level at 0.6895 barriers to bring down trend resumption. And on the downside, a break of the level at 0.6710 minor support will turn bias back to the downside for retesting the level at 0.6671 low.

Instrument: AUDUSD
Order: Buy
Entry price: 0.6810
Stop: 0.6710
Target: 0.6895

Note: Learn2Trade.com 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

Unable to Break Through Key Resistance Zone, AUDUSD Returns to Test Recent Swing High on the Level at 0.6776

AUDUSD Price Analysis – October 10

The Australian dollar is trending towards the highs and in the process, it’s testing the recent swing highs around the level at 0.6776. In the previous session, the FX pair depreciated downwards, however it reversed to the north in the current trading session.

Key Levels

Resistance Levels: 0.7085, 0.6895, 0.6805

Support Levels: 0.6740, 0.6710, 0.6671

AUDUSD Long term Trend: Bearish

AUDUSD moved higher from the lows and trending 50 pips higher after the open, the pair was able to hold on to its gains as the bulls took charge and may exit the session above its opening price.

The price is currently trading at 0.6761, after consolidation from the level at 0.6671, meanwhile, its recovery might extend further but likely to be restricted by resistance on the level at 0.6895. On its downside, a firm break of the level at 0.6671 will confirm the resumption of the bearish trend.

AUDUSD Short term Trend: Ranging

On the flip side, the pair’s intraday bias remains neutral first. While the potential target for the currency exchange rate for the session may not surpass the level at 0.6776.

The pair is unable to break through the key technical resistance level at 0.6776, AUDUSD may close below it after spiking up to 0.6774 earlier during the day. And failure to close above the resistance may increase that level’s importance going forward.

Instrument: AUDUSD
Order: Sell
Entry price: 0.6776
Stop: 0.6895
Target: 0.6671

Note: Learn2Trade.com 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