The terrible month for the Aussie is finished but without a lower low than that of the beginning of August (0.8848). Possible bullish head and shoulder figure in formation with neck line in area 0.92.
AUD/USD has sold off sharply recently, but it appears that Aussie bears are running out of steam. The pair could retrace to the .9100 major psychological level, which was a former support area, before resuming its drop. This is in line with the 61.8% Fibonacci retracement level so it could hold as resistance for AUD/USD in the near term.
The RBA keeps rates unchanged at 2.50% but states that the value of the Aussie is still too high…Instead the market reacts in the opposite way by buying Aud. RBA Holds Key Rate at 2.5% Omitting Easing Scope - Bloomberg
I think it’s because they removed that part on having scope for further easing. Maybe traders took that to mean that there won’t be any rate cuts anytime soon.
It’s so weird! Retail sales are down and GDP is just as expected, yet AUD is rallying like crazy!
The rebound of the Aussie is going on with a potential bullish head and shoulder that will find the neck line in area 0.918. Only above the level, acceleration up to 0.93.
Yep, looks like it. Got the same projection on my AUD/JPY trade 
I’ve used the excess of negative sentiment on the Aussie to go short EurAud. Now I am going to protect my profit and next target is area 1.38/1.40.
At the moment no reaction to the victory of the political opposition in Australia. AudUsd is still trying the assault to the neck line of the bullish head and shoulder.
Head and shoulder formalized on the Aussie and now the minimum target would be 0.9510 (also 38.2% of Fibonacci retracement). But there is still the barrier of 0.9310 to overcome.
Looks like it’s starting to break above .9300 now. Think it will go all the way to parity?
Aussie bulls, unite! It looks like AUD/USD ain’t lookin’ back from its recent rallies, as the pair looks ready to break past .9300. A potential pullback might be in the cards though, with the 61.8% Fib lining up to the .9200 major psychological support and former resistance.
AUD/USD has formed a bearish divergence on its 4-hour time frame, as price made higher highs while stochastic made lower highs. Does this mean that the current rally is already overdone? The .9300 to .9350 area seems to be a stubborn resistance level and a selloff might take the pair back to the .9100 area.
Hmm… I might wait for the Septaper to play out before trading this one. Are you already in this trade?
I entered the trade but have been stopped at 0.9410, thanks Bernanke!!
Trust Big Ben to shock the markets, huh? Do you have a long bias this time or do you think the FOMC effect will be short-lived?
After seeing the behavious of the markets on Thursday and Friday, I think that the surprise effect is already finished. I disapprove the short AUDUSD.
If AUD/USD is gearing up for a major correction from its recent rallies, it could find support at the .9250-.9300 area of interest. This is in line with a former resistance level and is within the vicinity of the 38.2%-50% Fibonacci retracement levels. Stochastic is moving lower though, suggesting that Aussie bears might be in control.
The 38.2% of retracement of the bear market (0.9510) represents a very good level of resistance, the Aussie will hardly overcome it in the short term.
Hey elisab, do you think it will just keep selling off back to its former lows? I’m trying to look at multiple time frames but it seems I’m getting mixed signals. So confusing…