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A high-volume push down through 720 would be nice. Tightened up my stop now that we're getting close. I have my target at 725

I think if that shaded area holds it will be a good place for long's, possible decent bounce from there

1662344901997.png
 
Couldn't break through support, looking for the AUD to push through near term resistance indicating a breakout move or will it range to a different point in time. Seeking an upward push in momentum?
 
That resistance held up nicely again. One thing I have noticed on the AUD is that resistance seems to hold more than once. Normally get a few bounces off of it. Once again taken half off here (a bit higher) targeting around the 725 level

1662361921606.png
 
Quite day for the AUD yesterday, after early morning turbulence ranging sideways all day into this morning. I think it;s brewing for something big, One would suggest a strong rebound high is on the cards, RBA Interest Rate Decision is today and predicted to push the AUD higher unlike the previous rate hike. Analyst Suggest;
The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6796 and 0.6794).

Preference:
The upside prevails as long as 0.6770 is support.
Alternative scenario:
Below 0.6770, expect 0.6735 and 0.6715.

1662415973713.png
 
Stockybailz said:
Quite day for the AUD yesterday, after early morning turbulence ranging sideways all day into this morning. I think it;s brewing for something big, One would suggest a strong rebound high is on the cards, RBA Interest Rate Decision is today and predicted to push the AUD higher unlike the previous rate hike. Analyst Suggest;
The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6796 and 0.6794).

Preference:
The upside prevails as long as 0.6770 is support.
Alternative scenario:
Below 0.6770, expect 0.6735 and 0.6715.

View attachment 146398
Click to expand...

US labour day on monday so everything was dead
 
I am looking for a test of the accumulation area around .68000 if this holds then a push-up towards .68450 would be my target. Momentum is still to the downside obviously so this is probably a lower percentage play if it pulls back


1662421220676.png
 
Roller_1 said:
I am looking for a test of the accumulation area around .68000 if this holds then a push-up towards .68450 would be my target. Momentum is still to the downside obviously so this is probably a lower percentage play if it pulls back


View attachment 146408
Click to expand...
I think you sound about right, but the RBA rate hike should it happen, would be putting a lot of pressure on the market, much like the last hike the AUD fell. A bit wary of this happening again. But with that been said and being a betting man I'm optimistic of highs @0.6963 to fall under pressure @0.6942...Interesting day ahead, Hold on faith of a good outcome heading north...
 
Given the underwhelming pressure these consecutive rate hikes are putting on the market, you think the responsible rate hike would be 0.25% - 0.35% rather then the forecast 0.50%. A lot of people really paying there bills of late. Well find out at 2.30pm should a rate hike happen?
 
Stockybailz said:
Given the underwhelming pressure these consecutive rate hikes are putting on the market, you think the responsible rate hike would be 0.25% - 0.35% rather then the forecast 0.50%. A lot of people really paying there bills of late. Well find out at 2.30pm should a rate hike happen?
Click to expand...
Another rate hike is widely expected, but the question remains how much.

Back in June, the RBA noted that the neutral rate is probably around 2.5%, and have since also forecasted inflation to surge beyond 7% this year. This would suggest a need to continue tightening beyond the neutral rate to bring inflation back within the target range. With the cash rate currently sitting at 1.85%, they may likely elect for another 50bps move today, and then begin to reassess the pace of their hiking cycle next month.

However, if the Board does in fact opt for a tamer move today, AUD/USD begin to pare today’s gains, especially given the expectations for another 75bps hike from the Fed later this month.

All trading carries risk, but it will be really interesting to see what the RBA decides, and what their outlook is for the upcoming months.
 
Creepy the AUD doesn't know which way to turn, UP DOWN like a yo-yo. Certainly under pressure! Looking at the downside prevail, interesting to see if it re-numerates this move come the RBA Interest Rate Decision in 30 minutes. If so gives me an good impression of future movement. Good luck!
 
Couldn't help myself today and got out the old 1min chart today for a bit of pre RBA fun.

Trading A6U22, nothing too crazy but managed a few ticks (log from the bottom up), +5, +2, +1.5, +2
1662437919701.png
 
Stockybailz said:
Creepy the AUD doesn't know which way to turn, UP DOWN like a yo-yo. Certainly under pressure! Looking at the downside prevail, interesting to see if it re-numerates this move come the RBA Interest Rate Decision in 30 minutes. If so gives me an good impression of future movement. Good luck!
Click to expand...
Come as a bit of surprise, the AUD hasn't taken to the RBA Rate Hike. Stalling sideways with no real re-action. To take a spin-off the ABC News, they say the US has beaten us to the punch putting increased pressure on the AUD....No confidence in the AUD looking into its future coming of a 7 week low. Will it ever find its ground in support and rebound into new resistance levels?
 
Stockybailz said:
Come as a bit of surprise, the AUD hasn't taken to the RBA Rate Hike. Stalling sideways with no real re-action. To take a spin-off the ABC News, they say the US has beaten us to the punch putting increased pressure on the AUD....No confidence in the AUD looking into its future coming of a 7 week low. Will it ever find its ground in support and rebound into new resistance levels?
Click to expand...
No real reaction is telling me that the RBA has acted exactly as the market expected. Hopefully we'll have more of the same when the RBA next releases it's Cash RateTarget next month.

KH
 
Just when you think that things couldn't get any worse for the AUD. Taking a nose dive after Interest Rate Hike, showing just how much the AUD is under selling pressure. Long overdue for a correction I say, but when will that happen; Analyst Suggested,
The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (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 0.6751 and 0.6781).

Preference:
The downside prevails as long as 0.6761 is resistance.
Alternative scenario:
The upside breakout of 0.6761, would call for 0.6795 and 0.6815.
1662498051071.png
 

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