AUDUSD
On Thursday, the AUDUSD broke seven weeks old ascending trend-line and dropped towards testing 0.7605 – 0.7600 horizontal-line support. However, oversold RSI might restrict the pair's further downside below that, if not, then it becomes wise to expect 0.7570 & 0.7530 to appear on the chart. In case if the pair continues declining below 0.7530, the 0.7500 round-figure may offer an intermediate halt during its downturn to challenge 0.7450-45 support-zone. Given the pair reverses from present levels, the 0.7650 & 0.7665-70 can act as immediate resistances for traders to watch before looking at 0.7700 mark. During the pair's extended up-move beyond 0.7700, the 0.7730, recent high of 0.7740 and an upward slanting TL resistance around 0.7755 should be observed carefully.
EURAUD
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A week-long trading range between 1.3835 and 1.3725 has been restricting the EURAUD's moves and the pair is presently running towards challenging the 1.3835 range-resistance. Though, overbought RSI & comparative strength of the AUD indicates brighter chances of the pair's profit-booking moves towards 1.3800, 1.3775 and the 1.3760 consecutive-supports before meeting the range-support of 1.3725. Should prices decline below 1.3725, the 1.3700, 1.3680 and the 1.3660 can entertain sellers before pleasing them with February low around 1.3620. Alternatively, pair's capacity to surpass 1.3835 enables it to rally towards 1.3860 and then to 1.3900 resistance-marks while it's successful trading beyond 1.3900 opens the door to witness 1.3935 and the 1.4000 psychological magnet.
AUDJPY
Having breached an immediate downward slanting trend-line, the AUDJPY rallied towards fortnight high but failed to clear 87.40-45 horizontal-region and is likely witnessing pullbacks to re-test 86.65 and 86.30 supports. However, a somewhat longer upward slanting trend-line, at 86.10, could limit the pair's further downside below 86.30, which if broken may flash 85.75 and 85.20 come-back. On the upside, 87.40-45 can keep limiting the pair's near-term advances, clearing which 87.70 and February high around 88.20 might become important to look. Given the pair continue trading up beyond 88.20, the 61.8% FE level of 88.60 & 89.00 may come into buyers' radar.
AUDNZD
Even if AUDNZD's bounce from 1.0630 enabled it to surpass 1.0740-45 horizontal-line, the pair failed to provide a daily closing beyond that and is currently indicating chances of pullback to re-test 1.0700, 1.0680 and the 1.0630 support-levels. Should the pair drops below 1.0630, it can plunge to 1.0570 but 200-day & 50-day SMA confluence, around 1.0520, could limit its additional downside. Meanwhile, pair's ability to justify its strength with a daily close above 1.0745 can trigger its north-run to 50% Fibonacci Retracement of March – September downturn, at 1.0780, and the 1.0800 round figure. During the pair's sustained advances beyond 1.0800, the 1.0880 & 1.0920 are likely barriers that it needs to clear before claiming the 1.1000 resistance-figure.
Cheers and Safe Trading,
Anil Panchal