the pair is trading now above the level of 1.0300 and that's mean the uptrend is still standing and the pair might reach 1.0380 , but if the pair succeeded in breaking 1.0300 , it will continue in down trend heading to 1.0270 and then 1.0240
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the pair is trading now above the level of 1.0300 and that's mean the uptrend is still standing and the pair might reach 1.0380 , but if the pair succeeded in breaking 1.0300 , it will continue in down trend heading to 1.0270 and then 1.0240
Prices broke aggressively lower to pause at 1.0181, a resistance-turned-support level. The intensity of the selloff did not allow us to find a compelling selling opportunity, but oversold RSI studies with early signs of positive divergence hint an upswing is ahead and will present an entry point. Initial resistance lines up at 1.0432.
trading will be long positions above 1.025 with targets at 1.04 and 1.05 in extension.
but in case the price below 1.025 look for further downside with 1.011 and 0.995 as targets.
good luck
the coming sessions. In the interim, look for intraday rallies to be well capped ahead of 1.0600. The price is also contemplating the establishment back below the 200-Day SMA which further strengthens downside bias.
The AUD/USD pair rose again on Thursday as the trading world continues its tug-o-war on a global scale. The AUD/USD caught a bid in a risk-seeking move, and we are presently at the top of the most recent consolidation area between the 1.04 and 1.01 areas.
audusd looks like 1.0345 now and it looks very bullish on monthly chart.
BUT. On the same chart, technical indicators are showing very high possibility of top.
Longterm top.
On weekly chart is is also bullish but overbought, but on daily chart, technicly top was confirmed
and it seems like longterm downtrend is starting.
On smaller timeframes than D1 chart, we can see messy indications and
it seems like calm situation inside larg bearish trend.
In any case even bigger and stronger reversals are possible inside larg downtrend.
Techicly it is possible that audusd could reach even higher levels than "this all time high" but
bearish longterm bias is just matter of time - I think.
So my view on higher timeframes is bearish for audusd - the same like for eurusd and maybe
gbpusd.
we are willing to sell a break below parity if we get it on the close. In the meantime, it is a decent scalping pair as it continues to go back and forth.
This pair and other pairs experienced powerful movements this week – moving alternatively up and down, and very fast. I sold short last Friday.
Order: Sell
I've been talking about selling 'risk' for a little over a week now. I like the big rally we saw today in equities as it really improves the risk/reward profile of a lot of potential trades
The price level at 1.1000 proved to be a great resistance, though in the context of an uptrend. I sold short and made a profit. There’s been a serious violation to the bullish trend, but only an extended bearish movement would render the primary trend invalid.