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U.S. Dollar / Australian Dollar

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USDAUD trade ideas

AUDUSD || Update Key Points DXY: Dollar Logs 12th Winning day in a Row as upbeat US Data Boosts Greenback's Appeal Key points: US dollar rallies big time Markets look to retail sales The American currency has strengthened against its forex peers as the flexing US economy is confidently headed toward a softer landing -strategist. • The US dollar index DXY is on a tear. A powerful rally has swept forex markets, taking the dollar on a journey toward higher grounds - so much so it's on track to wrap up the thirteenth straight day of gains. The Dollar is up 3% over the past twelve trading days, ravaging the valuation of its peer currencies, with its index trading above 103.30. • The economy is looking set to perform the soft landing where with inflation down, rates could finally move lower and possibly no recession . America's biggest banks JPMorgan and Goldman Sachs posted solid third-quarter results. • Looking ahead, the US dollar's rise could be further supported by September's retail sales report set to be released on Thursday, which would shed light on how confident the aggregate measure of sales of retail goods and services were for over a period of a month. As bears took over the AUDUSD market causing a -3.37% move from Sept 2024 high [previous post indicated price retrace towards key psychological resistance at the 0.685/0.68]. The pair broke the ascending triangle formed last week and continued its rally down towards the key level around 0.67214 0.67153 0.67070 which held support to the pair last week. Currently, the pair has broken and retested the key level at 0.67070 and is possibly going to rally towards support level at 0.667 with 0.662 in sight. Key Levels 0.685 0.68 0.67 0.66 0.695
Short
by deusmanagement
1
AUDUSD Zone BuyWait zone for buy AUDUSD, don't rush to buy now. SL line yellow. Good luck. **Forex Analysis Disclaimer** This analysis is intended for informational purposes only and should not be considered investment advice. I utilize technical analysis as the basis for decision-making and do not focus on fundamental analysis. Forex trading involves high risk and can result in losses. It is advisable to conduct your own research and consult with a financial advisor before making any trades. I am not responsible for any losses that may arise from the use of this information.
Long
by Forex_Int
AUDUSD InsightHello to all subscribers! Please feel free to share your personal opinions in the comments. Don't forget to like and subscribe! Key Points - UK September CPI falls short of expectations at 1.7%, raising hopes for a BOE rate cut by the end of the year - Rising Trump risks contribute to dollar strength - Expectation for a 25bp rate cut by the ECB in October - Anticipation of a 25bp rate cut by the Fed in the November FOMC meeting Economic Indicators - October 17: Eurozone September CPI, ECB rate decision, U.S. September retail sales Chart Analysis AUDUSD is showing strong downward pressure near the 0.69400 level. It has currently dropped to around 0.66500, a region considered to be within the support zone. There is potential for further pressure down to the 0.66000 level, but a rebound towards the 0.69000 level is expected afterward. However, if the price breaks below the 0.66000 level contrary to expectations, I will promptly adjust the strategy.
Long
by shawntime_academy
1
Aussie Slide: Is AUD/USD Slipping Into the Outback?Let's get into the breakdown of AUD/USD based on the charts you're showing. Starting with the weekly chart, we can see that price is currently trading near the 0.66670 area, which is a significant level of support. This level has been tested before, and with the price currently sitting on it, we could see a potential break or bounce depending on how the market reacts. If price holds above this level, we might be looking for a reversal opportunity. However, if we break below 0.66670, the next target level would be around 0.66100, and ultimately 0.65832 for a continuation of the downtrend. Zooming in on the daily chart, we can see how the price has been steadily declining and currently hovering around that 0.66670 level. The moving averages are above the price, signaling bearish momentum. With the support being tested, it’s critical to watch how the price closes today and tomorrow. A daily close below the support will confirm bearish sentiment and could lead to further downside action. On the 4-hour and 1-hour charts, the price has already broken below 0.66771 and appears to be consolidating at the current level. There could be a short-term retracement before a potential drop, so I’m watching for a potential bounce from 0.66670 for a small corrective move before continuing lower. If we do get a break and close below this area, then a sell opportunity could be in play targeting 0.66100 or even 0.65832 by Friday. For now, I’m looking to potentially enter a sell trade if we get that break and close below 0.66670, with a possible entry around 0.66600, targeting the lower levels mentioned. As always, keep your risk in check and wait for confirmation before entering!
Short
by SheenaL
AUDUSD Short Pullback TradeAUDUSD Short Pullback Trade We rejected PDL. Created lower low, possible new local lower high to join the trend on pullback. Stop Loss above the recent high: 0.66997 Take Profit: 0.66769 1. R:R 1:1, 0.5% Risk 2. After reaching TP closing half and moving SL to Breakeven 3. Trailing the rest with market structure on M15 later H1 - Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal. - Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits. *No important news for AUDUSD today*
Short
by Marteyfx
AUDUSD 2024.10.16 05:15:08 Trading Signal SELL FrankPro Signal for AUDUSD Type: Screen Signal: SELL TP: 0.665895 SL: 0.6696 Entry Price: 0.66903 Flexity Analysis for AUDUSD Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Probably Down Forecast Methods(Short-Term, Long-Term): ST=Down LT=Down ST=Down LT=Up ST=Down LT=Down FlexityIndicator Analysis Method(0) AUD/USD Pair Expectations Short-term (next few days) Key Points Expectations Resistance Area Test near 0.6775 before potentially continuing its fall below 0.6605 Moving Averages Indicate a short-term bullish trend, but broken through the bullish channel, indicating seller pressure FX Option Expiries Levels at 0.6675, 0.6730, 0.6775, and 0.6800 may influence market sentiment and price movements Expected short-term movement: Down Long-term (next few weeks/months) Overall Outlook: Cautious due to global economic uncertainties, including the situation in the Middle East and China's economic challenges RBA Interest Rates: Expected to remain unchanged at 4.35%, which could influence the AUD/USD pair Long-term Trend: Uncertain, but a strong growth and breakout above 0.6865 would suggest continued growth towards 0.7215 Expected long-term movement: Neutral (with a slight bearish bias due to global economic uncertainties) Please note that these expectations are based on the provided analysis and are subject to change as new data and events become available. Result: ST=Down LT=Down FlexityIndicator Analysis Method(1) AUD/USD Price Movement Forecast Short-term Outlook (Next Few Days/Week) The price is expected to go down. Here are the key points to consider: The technical analysis indicates a potential continuation of the fall. A test of the resistance area near 0.6775 is expected, followed by a downward price rebound to the area below 0.6605. The pair has faced renewed selling pressure, testing the 0.6700 support level. A retest of the October low of 0.6699 and the September low of 0.6622 is possible. Long-term Outlook (Month of October 2024) The price is expected to go up slightly. Here are the key points to consider: Forecast Metric Value Starting Rate (Oct 1) 0.644 Ending Rate (Oct 31) 0.662 Average Rate 0.656 Monthly Increase 2.8% Overall Outlook The short-term outlook is bearish, while the long-term outlook is slightly bullish. However, please note that market conditions and forecasts can change rapidly, and these conclusions are based on the provided analysis and data as of October 15, 2024. Result: ST=Down LT=Up FlexityIndicator Analysis Method(2) **AUD/USD Price Movement Analysis** **Short-term (next few days to a week)** Expected Price Movement The price is expected to go down. Reasons Lack of clear fiscal stimulus details from China affecting the Australian economy. Bearish breakdown below the 50 level on the RSI momentum indicator. Pair has broken through the signal lines downwards, indicating pressure from sellers. Key Levels Potential test of the resistance area near 0.6775. Downward rebound expected, with price potentially falling to below 0.6605. **Long-term (next few weeks to months)** Expected Price Movement The price is expected to stay the same or go down. Reasons Deflationary risk in China's economy affecting demand for Australian exports. Lack of specific details on new fiscal stimulus measures. Broader market sentiment remains cautious due to growing conflicts in the Middle East and rising oil prices. Key Levels Failure to hold at 0.6700 could expose the next support at 0.6600. Potential deeper correction towards 0.6360 if the 0.6600 level is breached. 200-day moving average near 0.6600 may provide some support, with price potentially stabilizing or bouncing back from this level. **Overall Assessment** The AUD/USD pair is under pressure, and the price is expected to go down in the short term. In the long term, the price may stay the same or go down, depending on the development of the economic situation in China and the broader market sentiment. Result: ST=Down LT=Down
Short
by orbborisson