The lack of major developments surrounding the US-China trade conflict and the subdued trading action didn't allow the pair to make a decisive move in either direction following that drop, forcing it to move sideways near mid-0.67s. However a positive reports Australian Bureau of Statistics forecast today can attract buyers. FOMC members Barkin and Daly will speak later.
AUDUSD - Intraday - We look to Buy at 0.6745 (stop at 0.6715)
Posted Mixed Daily results for the last 7 days. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. Trading between support at 0.6745 and resistance at 0.6821. Preferred trade is to buy on dips. Price action is forming a bullish...
AUDUSD - Intraday - We look to Buy at 0.6880 (stop at 0.6850)
7 negative daily performances in succession. Prices have reacted from the 423.6% Fibonacci extension level. Buying posted in Asia. Posted a Bullish Outside candle on the 4 hour chart. There is scope for mild selling at the open but losses should be...
I hope you had a great week of trading this week. Below I have an interesting setup for this AUDUSD pair. As you can see the price action has created a nice ascending channel withing a descending channel on the 4h chart and is respecting the trend line on each occasion. The price has pushed right down to the trend line, touched and bounced. I'm...
AUDUSD - Intraday - We look to Buy at 0.6962 (stop at 0.6922)
The gap open from 0.7022 to 0.7026 has now been closed. Selling posted in Asia. Daily/Weekly Ichimoku Cloud resistance is seen at 0.7035. Bespoke support is located at 0.6962. The medium term bias remains bullish. A bullish reverse Head and Shoulders...