Now that the dust has settled post NFP, China CPI, the AUDUSD is ready to bounce after heavy selling over the last week. Daily RSI and Stochastics are both sloping up now, with Stochastics rising from an oversold level. The daily MACD blue line is trying to bottom, with the MACD histogram becoming less negative. AUDUSD is now just sitting in a minor resistance...
AUDUSD is making a tradable bottom on the weekly chart as seen by the RSI, Stochastics rising off overold levels. The weekly MACD blue line is still sloping a bit down, but appears to be in the early stage of flattening. Significantly, you can see AUDUSD having found support close to current levels in early 2014 and early 2010. AUDUSD broke briefly below this...
Well in my humble view the Australian dollar have a lot of Bullish potential , based in the Suport demand area arround 0.86605, like was support too in 2010, and in the start of 2014
we can make good long positions, if can hold this level.
There is not much explanation needed.
3 large signals at the same level have been triggered today for major resistance.
Look further back to where they have come from.
Time cycles confluencing here too.
Break above 98.22 should invalidate these signals and trigger another run up.
A short here would have a massive risk-reward.
Good luck
CCI shows overbought plus moving average is falling.
Recently I posted that AUD will fall based on other technical indicators below 0.92, any advance above that is a selling opportunity.
It's hard to image the RBA allowing the currency to rise too much considering the resources sector is on it's way down. That's one of the main reasons for the elevated AUDUSD...
Price on AUDCHF has been in a tight range since July 4, which I'm interpreting as an accumulation pattern -- i.e. buyers stepping in and quietly building their position. Just below this accumulation zone, which happens to coincide with a 50% Fibonacci retracement from the recent swing low to swing high, are the 50 SMA and 200 EMA. As such, I think there are enough...
1. Support Broken.
2. Macd increasing momentum down.
3. CCI falls out of Channel.
4. Falling RSI,
5. Starting to drop 20 MA, at the moment platau though should fall shortly.
GDP increasing in Japan and return to inflation.
