Trading news

Important AUD Pairs: Technical Overview

AUDUSD



With one more failure to clear downward slanting trend-line, stretched from August high, the AUDUSD now tests 0.7605–0.7600 horizontal support-zone with recent weakness in commodity currencies indicating more downside of the pair towards 0.7565-60 area before challenging the 0.7530 support-mark. Given the pair declines below 0.7530, the 0.7500 might act as intermediate halt during its south-run to September low of 0.7440 and then to the 0.7410 downside figure. Though, pair's bounce from the present rest-region, as it did during last week, can quickly propel the quote to 61.8% Fibonacci Retracement of its August – September dip, at 0.7635, while further upside can enable prices to mark 0.7675 and the 0.7690 resistances ahead of revisiting the mentioned TL resistance mark of 0.7705. In case if the pair manages to surpass 0.7705, the 0.7735 and the August high of 0.7755 might entertain short-term Bulls before fueling it to April high, at 0.7835.

EURAUD



Break of immediate descending trend-line resistance favors EURAUD's additional upside to 1.4775-80 horizontal-line area; however, overbought RSI might restrict its advances then, failing to which could fuel the quote to 1.4840 and to the 1.4890 north-side figures. Should the pair surpasses 1.4890, also clears 1.4900 mark, it can swiftly run towards 1.4985 and the 1.5030-35 resistances. On the downside, 1.4710 and the 1.4680 are likely immediate supports to pop-up during its pullback, breaking which 1.4645 and the 1.4600, followed by recent low of 1.4536, become more expected to see on the chart.

GBPAUD



Even if the GBPAUD plunged below its August low on Tuesday, oversold RSI and recent weakness in AUD prices signal the pair's bounce-back to 1.6780 nearby resistance. If the pair breaks 1.6780 on a closing basis, 1.6900 and the 1.7015 can weigh on the chart, which if surpassed enables the quote to test 50-day SMA level of 1.7230. Alternatively, yesterday's low of 1.6600 becomes the nearest stop given the pair reverses again to south, clearing which 100% FE of its August 2015 – April 2016 downturn, at 1.6460, and the 1.6300 could follow the suit. Should the pair declines below 1.6300, it becomes vulnerable enough to plunge towards testing a short-term downward slanting trend-line support of 1.6200.

AUDCAD



Cheers and Safe Trading,

Anil Panchal

Wednesday, 12 Oct, 2016 / 3:13

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.mtrading.com/analytics/technical-analysis/important-aud-pairs-technical-overview

Trading news

 

EUR dropped as Covid-19 engulfed Europe

  The focus of traders’ attention shifted from Brexit and the [...]

Posted on Wednesday, 28 Oct, 2020 / 11:27 under

Euro under fire as new lockdowns loom

  Euro on the chopping block ahead of potential French lockdown [...]

Posted on Wednesday, 28 Oct, 2020 / 10:06 under

DAX plummeting after Merkel proposed 1-month lockdown restrictions – DAX 30 Market Outlook – 28/10/2020

The Dax-30 is heading towards a third consecutive daily close in the red, [...]

Posted on Wednesday, 28 Oct, 2020 / 8:47 under