Aussie is starting the new week with enthusiastic bullish mood. Indicators on the daily chart are showing that bulls ain’t stop soon and first challenge is seen at 0.7715.
I'm still bearish. Looking for a break below 0.7630
Hildur posted:
I'm still bearish. Looking for a break below 0.7630
Why do you think it's bearish? I am not seeing any signal.
Rising prices of gold and oil pushed Aussie higher. The short term outlook remains bullish with next target seen at 0.78.
AUD/USD hold the daily gains above the 0.78 mark despite the uplifted DXY on the upbeat US macro data.
Look of good things going for Aussie. I'm looking to buy and hold
AUD/USD fell down today, but yet remains above 0.78. Bearish correction might follow on the upcoming sessions
Aussie shows good upward strength, I’m expecting a test of September 2017 high aorund 0.81 level.
AUD/USD rallied today to reach a remarkable high at 0.8118. Indicators on th H4 are showing extreme overbought conditions, so the pair might pull back towards 0.8065.
AUD/USD bounced from yestreday’s lows, but yet it’s hard to hold above 0.78. Bears are back in the game and intent to probe 0.7780.
Last week the pair broke significant support level provided by the 61.8% Fibonacci retracement of latest bullish run (0.7500 -0.8135) at 0.7750 and this opened doors for the further decline that currently we are witnessing. From this point Aussie now is looking for new support and in case drops below the daily low, such could be found at 0.7630 (Mid December 2017 lows).
Mar 22 2018 at 13:18
AUD/USD falling now. I can see it getting down to at least 0.7690
AUD/USD failed to hold above 0.77 and closed lower. Expecting a test of the support area around 0.7650.
Apr 03 2018 at 10:50
I'm stil bullish. entering on pullbacks
AUD/USD looks nice for long (almost like in the book), but on weekly. Too long period for me to enter in a trade :)
The upside remains capped by the psychological 0.7800 mark, which was tested last week although bulls couldn’t fight it. Should the pair succeed to break this level, next resistance is provided by the 50% Fibo of above mentioned retracement at 0.7820. On the flip side, immediate support is provided by the 20-day SMA at 0.7770. In case Aussie close below this area, bears would meet again with the 61.8% Fibo at 0.7745.
It seems that bears are now aiming 0.7500 handle.
The pair remains vulnerable for further declines as bears conquered the psychological support at 0.7500, now acting as a resistance. So a potential recovery might lead the price towards fisrt resisatnce area at 0.7480 provided by 50% Fibonaaci retracement of 2016-2018 bullish run, before nearing again this critical 0.75 mark. The downside is immediately protected by the 0.7410-0.7400, and in case the pair close below it, will be poised to extend its decline towards next support at 0.7370, which if broken will open doors for testing the 61.8% of same Fibo at 0.7327.
The AUD/USD pair pushed higher today extending the bullish sentiment started form May 9th. The pair surpassed the 61.8% Fibonacci retracement of latest April to May bearish run and surged to daily high at 0.7676. Having in mind that the pair failed to break above its daily high and directionless indicators on the four hour time frame,we might see again it around the support provided by 61.8% Fibo at 0.7660. On the other hand the upcoming session will bring Australia’s AIG Performance on Construction Index for May and the April trade balance figures, which are supposed to show goodish figures more likely will give the Aussie an additional boost. In this scenarion bulls will try to fight the 0.77 level which if broken will open doors for tesitng 0.7740.
