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AUD/USD - page 3

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AUDUSD might be a perfect buy trade if we get from the market what we want. There are plenty of opportunities so don’t force things. I would like to see another push lower, creating a false break on the H4 chart. Divergence is already there but there is a pretty good chance that we will see another leg down and this bullish divergence to be re-created. If that happens, simply look for breakout of the down trend line and last high, followed by pullbacks where I want to long.
It's going higher imo.
The pair definitely looks very bearish,I think that if it breaks below 0.7200 its next target would be at least around 0.7150.

AUD/USD Technical Analysis: Aussie Recovers on Oil, RBA; More Weakness to Come


The so-called aussie consolidated above the 61.8% Fibonacci retracement level, with more weakness likely to come if it closes below this level.

The pair failed to close below the 61.8% Fibonacci from the January to April rally ($0.7212) on Thursday.

Positive comments on Australia’s inflation outlook by the Reserve Bank of Australia's John Edwards in an interview in the Wall Street Journal boosted the Australian dollar, as he said that that there was no urgency to restore inflation to target, adding that inflationary expectations remain anchored.

A jump in oil prices also helped to increase the demand for higher-yielding currencies.

AUD/USD traded around $0.7230 on Friday, with a strong resistance at $0.7242. Any break above this level would take the pair towards the next resistance at $0.7259, which is the five-day moving average.

On the other side, the 61.8% Fibonacci retracement level at $0.7212 provides immediate support and any break below this level would take the pair to the next support at $0.7176.

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The pair is retracing for now, its next target is likely the resistance level at 0.7240.
AUD/USD formed several candlesticks on the 4-hour time frame that are a signal that the move to the upside is exhausted and that there will be an impending drop - a hanging man, a spinning top and a doji, and naturally it began falling. I think the next target is at 0.7190.
Looking to buy some time soon. 

I think that the price will reach 0.76628 level. After that, the price will return to the level of 0.74655 or further.

 

 

The pair formed a new high at 0.7657, I think it will likely continue rising.

AUD/USD forecast for the week of August 1, and 2016


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