Daily price is breaking 0.7583 support level to below for the daily secondary correction within the primary bullish trend.
The bearish reversal level is 0.7420 support, and if the price breaks this level to below so the bearish reversal will be started.
SUMMARY : bullish
By the way, if we look at the weekly price so the secondary correction may be started on this timeframe as well. And if the weekly price breaks 0.7420 support on close bar to below so the next level will be 0.7324 which is bearish reversal level for the medium term sirtuation for example (up to the end of this year).
As to monthly price so it is already on the bearish, and this bearish tendency is the long-term situation for the many years.
The question is how much bearish (too much bearish or not too much - what is the question):
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Sergey Golubev, 2016.08.28 08:23
Fundamental Weekly Forecasts for Dollar Index, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CNH and GOLD (based on the article)
The most likely scenario for this pair for the coming week is the following: bullish ranging within the levels.
Support level at 0.7583 was broken by the price to below, and new support level together with new descending triangle pattern is going to be tested for now: 0.7550 - this level is necessary to be broken for the secondary correction to be continuing.
Sergey Golubev, 2016.08.30 07:13
AUD/USD Intra-Day Fundamentals: Australia Building Approvals and 15 pips price movement
2016-08-30 01:30 GMT | [AUD - Building Approvals]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - Building Approvals] = Change in the number of new building approvals issued.
AUD/USD M5: 15 pips range price movement by Australia Building Approvals news event
Sergey Golubev, 2016.08.30 16:22
Intra-Day Fundamentals - EUR/USD, GBP/USD and AUD/USD: The Conference Board Consumer Confidence
2016-08-30 14:00 GMT | [USD - Consumer Confidence]
[USD - Consumer Confidence] = Level of a composite index based on surveyed households. Survey of about 5,000 households which asks respondents to rate the
relative level of current and future economic conditions including
labor availability, business conditions, and overall economic situation.
The Conference Board Consumer Confidence Index®,
which had decreased slightly in July, increased in August. The Index
now stands at 101.1 (1985=100), compared to 96.7 in July. The Present
Situation Index rose from 118.8 to 123.0, while the Expectations Index
improved from 82.0 last month to 86.4.
The monthly Consumer Confidence Survey®,
based on a probability-design random sample, is conducted for The
Conference Board by Nielsen, a leading global provider of information
and analytics around what consumers buy and watch. The cutoff date for
the preliminary results was August 18.
“Consumer confidence improved in August to its highest level in
nearly a year, after a marginal decline in July,” said Lynn Franco,
Director of Economic Indicators at The Conference Board. “Consumers’
assessment of both current business and labor market conditions was
considerably more favorable than last month. Short-term expectations
regarding business and employment conditions, as well as personal income
prospects, also improved, suggesting the possibility of a moderate
pick-up in growth in the coming months.”
EUR/USD M5: 11 pips price movement by The Conference Board Consumer Confidence news event
GBP/USD M5: 18 pips price movement by The Conference Board Consumer Confidence news event
AUD/USD M5: 16 pips price movement by The Conference Board Consumer Confidence news event
Sergey Golubev, 2016.08.31 08:12
AUD/USD Intra-Day Fundamentals: RBA Assist Gov Debelle Speech and 11 pips range price movement
2016-08-31 01:00 GMT | [AUD - RBA Assist Gov Debelle Speaks]
[AUD - RBA Assist Gov Debelle Speaks] = The Speech at the FX Week Asia conference in Singapore.
A well-functioning foreign exchange market is very much in the interest of all market
participants. This clearly includes central banks, both in their own role as market participants
but also as the exchange rate is an important channel of monetary policy transmission. In a
globalised world, the foreign exchange market is one of the most vital parts of the financial
AUD/USD M5: 11 pips range price movement by RBA Assist Gov Debelle Speech news event
Sergey Golubev, 2016.08.31 14:31
Intra-Day Fundamentals - EUR/USD, GBP/USD and AUD/USD: ADP Non-Farm Employment Change
2016-08-31 12:15 GMT | [USD - ADP Non-Farm Employment Change]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - ADP Non-Farm Employment Change] = Estimated change in the number of employed people during the previous month, excluding the farming industry and government.
EUR/USD M5: 6 pips range price movement by ADP Non-Farm Employment Change news event
GBP/USD M5: 17 pips range price movement by ADP Non-Farm Employment Change news event
AUD/USD M5: 12 pips range price movement by ADP Non-Farm Employment Change news event
Sergey Golubev, 2016.09.01 09:37
AUD/USD Intra-Day Fundamentals: Australian Retail Sales and 23 pips range price movement
2016-09-01 01:30 GMT | [AUD - Retail Sales]
[AUD - Retail Sales] = Change in the total value of sales at the retail level.
AUD/USD M5: 23 pips range price movement by Australian Retail Sales news event
Sergey Golubev, 2016.09.02 14:48
Intra-Day Fundamentals - EUR/USD, USD/JPY, AUD/USD and NZD/USD: Non-Farm Payrolls2016-09-02 12:30 GMT | [USD - Non-Farm Employment Change]
[USD - Non-Farm Employment Change] = Change in the number of employed people during the previous month, excluding the farming industry.
"Total nonfarm payroll employment increased by 151,000 in August, and the unemployment rate remained at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in several service-providing industries."
AUD/USD M5: 58 pips price movement by Non-Farm Payrolls news event