Author Topic: AUD/USD Analysis from ForexMart  (Read 3648 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.

Offline Andrea ForexMart

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Re: AUD/USD Analysis from ForexMart
« Reply #32 on: March 29, 2017, 06:42:21 PM »
AUD/USD Technical Analysis: March 29, 2017

The Australian dollar against the U.S. dollar declined in the beginning of Tuesday trading but turned around and found significant support level at 0.7587 with 61.8% Fibonacci retracement level. A bullish candle was seen and the market tries to move to higher towards the .7750 level and above.

Later on, the market was able to break higher than the 0.7648 resistance level completing the downtrend from 0.7749 to 0.7587 level. It is more favorable to buy this pair with chances for a breakout in the gold market which traders are trying to attain and if they are successful in doing so higher than $1262 level, this would give higher returns to the traders.

The current price could further go up towards the next target at 0.7700 zone while a break lower than the support level at 0.7587 could follow downtrend towards 0.7500 mark. 

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Re: AUD/USD Analysis from ForexMart
« Reply #33 on: April 11, 2017, 02:03:50 PM »
AUD/USD Technical Analysis: April 10, 2017

The Australian dollar became weak on Friday along the sluggish statistics of Performance of Construction Index. Meanwhile, the risk off sentiment amid Asian session have put pressure on risk assets including treasury yields, equities, and the Aussie.

The pair continued to be well offered last Friday and resumed a negative sentiment throughout the day. The AUD leave the region 0.7550 during the night trades extending its bearish impetus within the day.

The sellers were able to reach the 0.7515 mark and rebounded. The major hovered over its session lows until the outset of North American hours.

As indicated in the 4-hour chart, the AUD/USD is positioned under the moving averages which shifted lower. Resistance holds 0.7550, support pierced into 0.7500.

The MACD histogram sustained its level affirming sellers’ strength. RSI indicator is found near the oversold territory which signaled a lover move.

Forecast says the pair would continue to decline within a short period of time. We still expect for a further move towards 0.7500.

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Re: AUD/USD Analysis from ForexMart
« Reply #34 on: April 19, 2017, 03:29:41 PM »
AUD/USD Technical Analysis: April 19, 2017

The Australian dollar against the U.S. dollar declined during the Tuesday session intersecting the 200-day Exponential Moving Average. There is a significant support found below at 0.75 level and a sign of supportive candle pattern indicates buying opportunity. If the price breaks above the shooting star on Monday session, this signals a bullish tone. Hence, it is much favorable to go long for this pair. The gold market could support this pair which is influential for this pair.

The pair broke lower than the 0.7535 support level indicating that the price moves upward from 0.7473 up to 0.7610 zone. This could further go down towards the next testing at 0.7473 support level and a breakdown in the said level will complete the downtrend indicating a continuation from 0.7749 mark towards 0.7300 area.