Author Topic: AUD/USD Analysis from ForexMart  (Read 2717 times)

Offline Andrea ForexMart

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Re: AUD/USD Analysis from ForexMart
« Reply #30 on: March 20, 2017, 05:30:18 PM »
AUD/USD Technical Analysis: March 20, 2017

There is no expected economic release scheduled from the Australian dollar on Friday. Investors were in a wait-and-see mode for the RBA Meeting minutes scheduled on Tuesday. Moreover, the offered tone near the greenbacks provided strength for the Aussie.

Buyers found a hurdle around 0.7700 but needed to leave off their gains.The major rebounded and stalled on top of 0.7660.

A bout of renewed buying pressure came up during Friday’s Asian session. The AUD/USD were pulled back by the buyers towards 0.7700 removing its current losses.

The 4-hour chart determines the price continuously develop above the moving averages as the 200 and 50-EMA directed higher while 100-EMA seems neutral. Resistance entered 0.7700 level, support holds 0.7650 mark.

The histogram preserved in the same region favoring buyer’s strength. RSI indicator is situated close to the overvalued area which confirms another move lower.

After making a gap on top of 0.7700, the next will be 0.7750. Failure to post its fresh gains could possibly occur some profit taking. The AUD would likely weaken reaching 0.7600-0.7620.

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Re: AUD/USD Analysis from ForexMart
« Reply #30 on: March 20, 2017, 05:30:18 PM »

Offline Andrea ForexMart

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Re: AUD/USD Analysis from ForexMart
« Reply #31 on: March 23, 2017, 06:27:56 PM »
AUD/USD Technical Analysis: March 23, 2017

The risk-off market sentiment alongside the softening of copper and other commodities affected the Australian dollar on Wednesday.

On Wednesday, the AUDUSD was neutral following the sell-off occurred on Tuesday. The sellers found a hurdle around 0.7650 mark. The handle slowed down the seller’s movement and the price was rejected. The spot was confined near the region as its progresses in an aimless manner.

The commodity-linked pair tested the 50 and 200-EMA while the 50-EMA crossed on top of the 100-EMA touching the 200-EMA as shown in the 4-hour chart. Also, the 50-EMA  preserved a bullish pattern while the 100-EMA shifted downwards while the 200-EMA showed signs of being neutral.

Resistance entered 0.7700, support is at 0.7650.

The MACD declined which confirmed the weak position of the buyers. RSI oscillator en route downwards.

A break to 0.7600 region will pass the attention to the level 0.7550.