Thanks to a couple of better-than-expected reports, the Aussie is having a breather against the comdoll bears. How long will it last though? The 0.9180 handle looks like a good place to short since it’s near a potential range resistance on the 1-hour chart. Think the pair will reach the level and then go down?
Heads up! AUD/USD is currently testing the top of the falling channel on the 1-hour time frame, and it appears that resistance is holding. Stochastic is heading south, suggesting that Aussie bears are in control for now. The question is, how low can AUD/USD go?
Approaching the month of August, a traditionally negative month for the Aussie that fell in 13 of the last 16 years on Usd and Cad.
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The Aussie bulls and bears are in for a tough battle! AUD/USD is almost at the .9300 psychological handle, which has been holding as a pretty solid resistance since mid-June. Not only that, but Stochastic is also sitting in the overbought region! Will the handle break this week, or will the bears finally step up?
Bullish head and shoulder in formation on the Aussie. The 240 minutes graph provides a positive response, but the month of August is one of the worst for AudUsd, so in the next few days I doubt the neck line of 0.93 can be broken upward.
The pressure on raw materials prices could come back in August and combining this to the bad seasonality…it is not good news for the Aussie.
Did you short already? 
Heads up! A bounce could be in the cards for AUD/USD, as the pair is currently approaching the bottom of the range around .9050. At the same time, stochastic is in the oversold zone, suggesting that the support might hold. Do you think the range will still hold?
Bad data coming from Australia take the Aussie back in area 0.90. The -6.9% in building permits approved in June is bad news that, combined with the negative seasonality of August, will make the Aussie fall below the psychological threshold of 0.90 in the coming days.
I’d like to agree with elisab here, I don’t think the technicals will support the aussie. But then again I may be being a bit hopeful since I’m long on EURAUD and that’s left the previous resistance markers behind by 300+ pips so far… holding out for a big one on this position. Fingers crossed for August!
Aud is collapsing, break at 0.90, the downward will go on up to 0.85.
Hi guys, do you agree this candlestick is breaking up the triangle?
audusd M30
I think that there are many reversal candles in the area of support that demonstrate the value of the level.
Although the US payrolls fell a bit short on Friday they still presented some decent numbers and the USD continues to be bought. And if the RBA trim overnight rates on tuesday as forecast then I’d bet 0.85 is in our near future.
The RBA has already stated that at the moment, the level of AUD is not interesting, therefore I can only predict some corrections for excessive negative sentiment for now.
With a reduction in rates how is that aussie increase its value? shouldnt be the other way?:33:
“Inflation” and “expected growth” talks in the RBA’s speech is the culprit.
I wonder how far this “retracement” will go?