Posts Tagged “AUD/USD”
There is a clear trend that follows the breakout of the Falling Wedge pattern which completed on Wednesday the 9th. The range is confirmed by two separate Channel Up patterns, the latest significant point being at resistance (B) where a distinctly rounded reversal occurred. Support is expected at various levels View full post on Technical Analysis
Following up with yesterday’s AUD/USD post, we are indeed seeing a wave 3 of (c) behavior as the market accelerates. The 4H chart shows the surge hitting the 78.6% retracement at 0.8430. The target for (c) wave is at least 0.8550/0.86, as this is equality with wave (a). 150% expansion would bring (c) to 0.88. View [...]
Price refused to obey me… so… the only conclusion that seems logical to me is that while we are still seeing a corrective structure we require a little more recovery before the next downward leg. The current rally should move back to the 0.8356 high where a risk of a View full post on Technical Analysis
Daily and 4H: The daily shows the AUD/USD still in consolidation after a break out below a long intermediate term channel. The bearish breakout is being tested, and a (c) wave may be developing. We may be in wave 3′ of (c). If the current speed of rally continues and View full post on Technical Analysis
Although the pair remains vulnerable to the downside, its strong recovery higher on Tuesday followed with a bid tone in early trading today suggests a move higher towards its May 28’10 high at 0.8550 could be shaping up. On a clean break and hold above there, AUDUSD should push higher View full post on Technical Analysis
Despite falling to 0.8089 yesterday, the Australian dollar did hold above indicated support at 0.8066 and has recovered, retaining our view that further consolidation within 0.8066-0.8552 range would be seen and recovery to the Tenkan-Sen (now at 0.8317) is likely, above would bring rebound to 0.8400 but resistance at 0.8552 should hold and bring another [...]
The pair is on a second day of weakness following through lower on its Tuesday losses in early trading today. This development now sees the pair eyeing the 0.8224 level, which represents its May 27’10 low where a clean penetration will set the stage for more weakness towards the 0.8069/65 View full post on Technical Analysis
The AUD/USD is seen in the daily in a correction after a sharp decline. The correction has some bullish force judging from the candlestick last week that spanned from 0.82 to 0.85. The last 3 days of decline has only been a retracement. This tells me that the current correction View full post on Technical Analysis
The AUD/USD is balancing around its psychological .85 level after Fitch’s Spain downgrade sent the risk trade lower on Friday. However, the Aussie has been outperforming over the past few trading sessions ahead of tomorrow’s key data. Australia will release retail sales and building approvals data followed by and RBA View full post on Technical Analysis