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Audusdsell

AUDUSDThe Australian dollar broke through significant support during the week, and it looks to me as if we are more likely than not going to go lower. Keep in mind that the Australian dollar is highly sensitive to commodity markets, and therefore global growth. The 0.70 level above should offer resistance as it has been that massive support we have been paying attention to. Because of this, I will be looking for signs of exhaustion anywhere near that area. On the downside, the 0.68 level is an area that could offer a little bit of support.
Short
by SmoothJB
AudUsd- 0.7000-0.7050 is very strong ceiling nowLike all Usd pairs, AudUsd also has lost a lot of its value in the past 6 weeks( almost 10%). After reaching a strong resistance above 0.76 at the beginning of April, the pair fell hard and the recovery from the beginning of May was also met with strong selling from 0.73 resistance. Yesterday's test of 0.7+ was reversed hard leaving a very long-tailed Pin Bar on our daily chart and now the pair seems determined for further losses. I'm strongly bearish as long as the price is under 0.7050 and I expect a drop to 0.67 Sell rallies can be a good strategy in AudUsd's case
Short
by Mihai_Iacob
AUDUSDThe Australian dollar initially rallied on Wednesday to reach near the 0.72 handle. By doing so, it shows a real chance of trying to recover. However, the market sold off almost immediately and has since looked very poor. By forming an inverted hammer, this suggests that the Aussie is still going to have a lot of overhead resistance. Because of this, I am not necessarily interested in trying to get overly aggressive to the upside, but I do recognize that rallies should continue to be faded. Breaking below the bottom of the candlestick for the session on Wednesday opens up the possibility that we will go down to the 0.70 level, an area that has been important more than once, and an area that would attract a lot of attention due to the fact that it is a large, round, psychologically significant figure. Because of this, I would anticipate that a lot of support should show up there, but whether or not it holds would be a completely different question. After all, the US dollar has been like a wrecking ball against almost everything in the world. The Australian dollar is also highly sensitive to commodity markets, so you will have to keep an eye on them as well. That being said, the commodity markets have looked a little bit soft in general, so it does make sense that we may see negativity here. Although Australia has been outperforming most other economies, the reality is that there is still a lot of concern when it comes to global growth, so it does make a lot of sense that we would see the Aussie dollar reflect the uncertainty of the underlying economy. Furthermore, Australia is highly sensitive to China which has a whole host of problems at the moment. Keep in mind with the coronavirus lockdowns that we see going on in China right now have locked down over half the economy, so it is not very likely that Australia will be a beneficiary of Asian demand for its commodities. Beyond that, we also have the Federal Reserve tightening monetary policy, which continues to drive the US dollar higher in general, which obviously has a significant effect on this market. At this point, I do not see a potential long set up.
Short
by SmoothJB
Short AUDUSDShort AUDUSD at 0.7275 TP: 0.70 SL: 0.7345 We have seen the dollar start on the strong side on the first trading day of 2022 however it retraced a bit on the second day (4th Jan). I have therefore decided to sell into this AUD rally as I believe the FED will start showing signals of further rate hikes in 2022 therefore strengthening the dollar against the Aussie. Using the fundamental story as well as the technicals to enter this trade. Good luck!
Short
by WhosPipsAreTheseAnyway
2
Limited upside seen on AUDUSDOn the higher time frame, prices are testing key resistance and we could be seeing limited upside here. On the H1 time frame, a pullback to test the support area at 0.7420, in line with the 100% Fibonacci extension, 38.2% Fibonacci retracement provides an opportunity to play the bounce to our resistance target at 0.74800. This resistance target lines up with the 78.6% fibonacci extension level. Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
Long
by shermzT