The Australian Dollar fell, extending losses this past week. Will a jobs report revive some strength for AUD/USD? Technical and sentiment analysis seems to hint otherwise. Daily price is located far below Ichimoku cloud in the bearish area of the chart. The price is on secondary ranging within 0.6828/0.6967 support/resistance levels waiting for the direction of the strong bearish trend to be resumed or the secondary bear market rally to ...
The Australian Dollar is retesting support-turned-resistance marking the underside of a broken Descending Triangle chart formation in the 0.6978-0.7021 area. Prices bounced after finding support above the 0.68 figure, marking a bottom with the formation a bullish Morning Star candlestick pattern and a break of trend line resistance set from the mid-April swing high. A push beyond this barrier would cast doubt on the Triangle breakout’s ...
AUDUSD failed to make a convincing break above the descending trendline yet again. The pair currently holding the 0.7100 handle after a somewhat excessive move to the downside. Key support situated at the 0.7067, which marks the 23.6% Fibo level. Momentum indicators remain bearish; however, this has eased in recent sessions, which in turn could see slight stabilisation in the near-term. On the topside, resistance is at 0.7180-0.7200. ...
The AUDUSD price is now close to support from the lower bound of a rising channel that has been in place since late October. It is also sitting on the 20-day moving average and is not far above the 50-day and 100-day moving averages, suggesting that any further near-term downside is limited. This all suggests that a move closer to the top of the channel is a possibility in the next few days even ...
The Australian Dollar has tepidly recovered to challenge trend resistance guiding it lower against its US counterpart since late January. That barrier is now in the 0.7136-0.7210 area. A daily close above that would neutralize the near-term bearish bias and initially expose the September's swing highs in the 0.7304-15 zone. Alternatively, a turn back below the October 8 low at 0.7041 sees the next significant barrier at 0.6900, the September ...