AUDUSD dips toward 0.6540 should find buyers
AUDUSD- Weekly Outlook
Buying Dips in front of 0.6540 (stop at 0.6500)
Prices traded lower on a dovish RBA meeting early today, and a risk-off sentiment pushing stocks and risk-sensitive assets, such as AUD, lower. Investors are eyeing high-impact US events today, ISM Services PMI and JOLTS Job openings.
The broad bias is bullish, as prices printed a bottom in October and trended higher in November. Technical indicators from wide time frames support the bullish direction, while intraday charts support the temporary correction.
I plan to fade the dip, buying at cluster support of a previously broken barrier, monthly pivot point, and the weekly ATR range
Our profit target is 0.6620 and 0.6670
Resistance: 0.6580 / 0.6620 / 0.6670
Support: 0.6540 / 0.6500 / 0.6450
Buying Dips in front of 0.6540 (stop at 0.6500)
Prices traded lower on a dovish RBA meeting early today, and a risk-off sentiment pushing stocks and risk-sensitive assets, such as AUD, lower. Investors are eyeing high-impact US events today, ISM Services PMI and JOLTS Job openings.
The broad bias is bullish, as prices printed a bottom in October and trended higher in November. Technical indicators from wide time frames support the bullish direction, while intraday charts support the temporary correction.
I plan to fade the dip, buying at cluster support of a previously broken barrier, monthly pivot point, and the weekly ATR range
Our profit target is 0.6620 and 0.6670
Resistance: 0.6580 / 0.6620 / 0.6670
Support: 0.6540 / 0.6500 / 0.6450
Comment:
AUDUSD has traede to 0.6540
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