The recent acceleration and close below 1.0390 has triggered a more ssubstantial topping formation that projects deeper setbacks towards 0.9700 over the coming sessions.
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The recent acceleration and close below 1.0390 has triggered a more ssubstantial topping formation that projects deeper setbacks towards 0.9700 over the coming sessions.
While AUD/USD might be reversing in medium term, there is no signal of long term topping yet. We'd stay bullish as long as 0.9404 support holds and expect an eventual break of 1.1084 to 138.2% projection at 1.3023, which is close to 1.3 psychological level, in the long term.
AUD/USD hit 0.9925 on Tuesday, the lowest since March 17; the pair subsequently consolidated at 1.0351 by close of trade on Friday, shedding 0.68% over the week, its second consecutive weekly decline.
audusd 1.0345 now and looks like it is near shortterm top. Iam looking to resell sooon, probably arround
1.025 but will see (depend when it happens). So Iam waiting on top confirmation to resell, targeting 50 pips
lower minimum.
audusd 1.0433 now. Iam still waiting on top and in this moment it is still upside pressure.
Its inpossible to know how far to the up it can go. Top have to be below 1.045.
Intraday trade:
If a M15 close above 1.0361 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.0328 sell only and do not buy. If price closes back above it again do nothing
The range 1.0361 and 1.0328 is neutral area, any trade done in between is personal decision and not part of this analysis
the pair and as we can from the chart has stated it's trading week above the level of 1.0300 and that's mean that the up trend is expected and the pair might head to 1.0400 and then 1.0450 how even if the pair make any howrly correction
Australian Dollar recovery from 5-month lows at 0.9925 last week has extended higher on Monday's Asian session, favoured by improving risk appetite, and the pair broke above 1.0360/80 resistance area, to consolidate above 1.0400, with upside moves contained below 1.0435/45.
the pair and as we can see from the chart is trading now above the level of 1.0400 , so when ever the pair success in breaking 1.0400 , that's mean the down trend will be assured and the pair might head to 1.0370 and then 1.0340
In this moment audusd is still inside bullish correction inside shortterm/midterm downtrend.
Iam still waiting on sell entry but it seems it wont be today.
In other oairs with usd we can see general usd weakness in this moment but this have to change soon.