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AUD/USD

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I don't think the momentum and volume support in there today for highs @ 0.695 range, but tomorrow looks another story, seeing a weakening USD on Trading Economics tomorrow. Making things interesting for the AUD...Standing by 0.6902 resistance should the AUD retrace...With that being said, would also be looking for a lower point of resistance tomorrow, say 0.69202...Imo
 
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Have notice the AUD has turned away from resistance 0.6902 or there a bouts. Everything going to plan. Look forward to see what this down swing retrace will give. Not confident but, Reaching out for 0.6812 but be happy with 0.6853 for the time being...Tomorrow be an eventful day looking for some upturn with resurgence...

 
I'll be a monkeys uncle, both support and resistance were meet yesterday and earlier this morning with momentum regaining confidence and speeding up, based on what I think is a weakening USD. The AUD sore to resistance 0.695.
Analyst are seeing 0.6894 as pivot point, looking for 0.6986. That's a tough call but I don't see why not, considering the volosity the AUD should be moving at. Alternative scenario at a break below 0.6894 looking for 0.6841.
The AUD now sitting on 0.69202 as support. A bit suspect but I'm also encouraged by sudden highs from this point...

 
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Looks difficult for pivot point 0.6894 to be meet giving the influx of support 0.6910 bouncing of the 50ma. I would be encouraged by a break above near term resistance 0.69405 should see the bulls take control...Still looking for 0.6986 or higher should it break early...

 
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The US dollar fell against major G10 currencies as the risk appetite seems to recover despite the US weak economic data. Or “bad news” again becomes “good news” as this strengthens the odds for a “peak Fed” ahead of the key event later this week. Commodity currencies strongly rebounded. The Australian dollar jumped the most against the greenback, up 0.77% to 0.6928 this morning.
 
How will the AUD measure up today? A bit of a mixed bag yesterday, with a lot of correlation between the highs and the lows with the AUD ending up settling in the 0.6905 range...Where to from here;
Analyst suggesting the the AUD will fall to as much to 0.6875 tough call considering I notice a lot of lower highs and lower lows, expecting the AUD to rebound to as high as 0.6967. Once again tough call, but I guess doable. Since looking at today's economics, I notice a weaker USD expected late in the evening.
I don't know what happened to all the hype of weaker USD this week, it doesn't appear to prevail. Any luck, find out late in the evening early morning?

 
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Took the liberty place a position just above near term resistance of 0.6922 and watched the AUD rise this morning, looking for 0.6967 encouraged by analyst suggestions. Also be inclined to be asking for further highs should the USD weaken further as forecast, later in the evening, very ambitious front, looking for highs of a new resistance @0.70415...

 

The AUD powering upturn yesterday putting wind in the sails for investors, I didn't get all of my position filled looking for 0.704. I think this is because the USD actually strengthened throughout the night, but that's just me being optimistic and looking at the economic options. Where to now for the AUD;
Analyst suggesting it will bounce further today, As long as 0.6945 is support look for 0.7036...
Alternative Scenario, Below 0.6945, expect 0.6912 and 0.6892...
I must admit I'm a bit of a skeptic on this and prefer the alternative scenario, because I think the USD is regaining confidence and looking stronger today and AUD will not be able to handle it?

 
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Well i am happy that the aud definitely went down and slashed my week losses
 
I eventually got in on the action, late that night well past my bed time, @ 0.6945 after a long day of deliberation finally the AUD fell to the USD pressure as forecast. I don't know what to say about next week except there would be more downward pressure on the AUD....
Watching the lower highs lower lows closely.
 
Interesting outlook for the AUD this morning, Analyst suggesting the RSI is oversold there for looking for further downturn.
The downside prevails as long as 0.6919 is resistance.
Alternative scenario:
Above 0.6919, look for 0.6951 and 0.6971.
The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6931 and 0.6953).

 
And ... my price analysis, a combination of moving average crossovers, breakouts and carry, is still negative. About 50% confidence.
Happy to be short for the moment.
KH
 
KevinBB said:
And ... my price analysis, a combination of moving average crossovers, breakouts and carry, is still negative. About 50% confidence.
Happy to be short for the moment.
KH
Click to expand...
I would say if the market crashed the AUD will follow and I would so put my bet at a temporary USD surge=>68c target soon in my opinion, time will tell, I have a bit of Grandfather USD play (ETF USD) as well as a USD portfolio and so far comfortable with that.
Interesting week ahead
 
I cannot see the AUD holding against the USD.

The next real support/resistance is a bit further down around 0.6700



gg
 
AUD reaching support 0.6850 ranging towards 0.6870 I suspect a day of this with indicators suggesting high MOMENTUM trying to push the AUD Higher but with a lower RSI keeping the AUD lower. Economics for me reads a weakened AUD against a stronger USD tomorrow. And for the week... Interesting to see what price projects from hear, as it seems where looking at further downturn...The finance market is crashing?
 
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AUD traveling a bit higher yesterday, after it was suspected of a market crash. Momentum running high. The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6899 and 0.6877). a bit of a tough call to read the AUD today...Analysis suggests;
Preference:
As long as 0.6870 is support look for 0.6960.
Alternative scenario:
The downside breakout of 0.6870 would call for 0.6837 and 0.6818.

Must admit I like the look of the alternative scenario, because what goes up must come down, definitely suspect some retrace later in the evening if not first thing tomorrow morning...Only time will tell, Interesting to see how it pans out?

 
Making a different call for the AUD.... On sitting the present momentum of the AUD I'm engouraged by a pivot point of 0.6950 to watch the AUD retrace to as low as 0.6866. Keeping a watch on the present lower highs lower lows that are having an influence on trend. Early day, But who knows?
 
AUD a bit of a mixed bag at present, economics looks like it could go either way. Analysis suggest further downturn for most of the day perhaps with some bounce later in the evening. The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6888 and 0.6898).
Preference:
The downside prevails as long as 0.6888 is resistance.
Alternative scenario:
The upside breakout of 0.6888, would call for 0.6923 and 0.6943.

 
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