|
AUDUSD Outlook |
Written by ActionForex.com |
May 08 08 13:15 GMT |
|
|
AUD/USD's pullback extended further to as low as 0.9349 but after all it's still supported above 0.9339 minor support. The fall from 0.9505 is still treated as correction to rise from 0.9275 only. Intraday bias remains neutral for the moment and outlook is basically unchanged. Correction from 0.9505 is expected to be contained by 0.9339 support and bring resumption of rise from 0.9275. Break of 0.9505 will bring retest of 0.9541 high first. However, below 0.9339 will argue that consolidation from 0.9541 is still in progress and will put focus back to 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). Nevertheless, short term outlook should still be mildly bullish as long as this cluster support holds. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
May 07 08 14:23 GMT |
|
|
AUD/USD's retreat from 0.9505 dragged 4 hours MACD below signal line, suggesting that an intraday top is in place. Outlook is turned neutral for the moment and further pull back to 4 hours MACD (now at 0.9404) or below could be seen. Nevertheless, downside should be contained above 0.9339 support and bring rally resumption. As discussed before, prior break of inner falling trendline suggests that corrective fall from 0.9541 has completed at 0.9275 already. Break of 0.9505 will bring retest of 0.9541 high. However, below 0.9339 will argue that consolidation from 0.9541 is still in progress and will put focus back to 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). Nevertheless, short term outlook should still be mildly bullish as long as this cluster support holds. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
May 06 08 07:52 GMT |
|
|
AUD/USD's rise from 0.9275 extended further to as high as 0.9482 before retreating mildly. Break of the inner falling trend line as well as 0.9472 resistance suggests that consolidation from 0.9541 should have completed at 0.9275 already. At this point, further rally is expected to retest 0.9541 high first. Break will confirm recent up trend has resumed. On the downside, below 0.9389 support will dampen this view and argues that consolidation from 0.9541 is still in progress. Nevertheless, short term outlook should still be mildly bullish as long as 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
May 05 08 08:28 GMT |
|
|
AUD/USD recovers strongly today and is back above 0.94 level. Nevertheless, there is no confirmation of completion of consolidation from 0.9541 yet. Focus is on the inner falling trend line (now at 0.9411) and break will be the first alert that such consolidation has finished. ABove 0.9472 will add more credence to this case and bring retest of 0.9541 high. On the downside, while further consolidation cannot be ruled out, short term outlook should still be mildly bullish as long as 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). Above 0.9472 will argue that such correction has completed and will put focus back to 0.9541 high. However, break of 0.9252 cluster support will indicate that whole rally from 0.8953 has completed and will put short term rising trend line (now at 0.9084) into focus. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
May 03 08 19:27 GMT |
|
|
AUD/USD continued to consolidate below 0.9541 last week without making any progress. Further choppy trading could still be seen, with risk of another dip. However, short term outlook should still be mildly bullish as long as 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). Above 0.9472 will argue that such correction has completed and will put focus back to 0.9541 high. However, break of 0.9252 cluster support will indicate that whole rally from 0.8953 has completed and will put short term rising trend line (now at 0.9084) into focus. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
May 02 08 09:21 GMT |
|
|
AUD/USD has another dive to 0.9275 today as correction from 0.9541 resumes. While further decline cannot be ruled out, short term outlook should still be mildly bullish as long as 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). Above 0.9472 will argue that such correction has completed and will put focus back to 0.9541 high. However, break of 0.9252 cluster support will indicate that whole rally from 0.8953 has completed and will put short term rising trend line (now at 0.9080) into focus. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
May 01 08 09:01 GMT |
|
|
AUD/USD's break of 0.9406 resistance suggests that fall from 0.9541 could have completed at 0.9290 already. At this point, further rise is mildly in favor to retest 0.9541 high and break will confirm that recent rally has resumed On the downside, while another fall could not be ruled out, short term outlook should still be mildly bullish as long as 0.9252 cluster support holds (50% retracement of 0.8953 to 0.9541 at 0.9247). However, break of this cluster support will indicate that whole rally from 0.8953 has completed and will put short term rising trend line (now at 0.9066) into focus. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 30 08 14:09 GMT |
|
|
AUD/USD recovers strongly in early US session but after all it's still staying in tight range of 0.9271 and 0.9406. Outlook remains mixed at this moment. On the downside, though, break of 0.9271 will complete an intraday head and should top and will be an indication that the whole rise from 0.8953 has completed. Deeper decline should then be seen in such case. Meanwhile, above 0.9406 will argue that price actions from 0.9541 is merely correction to the rise from 0.8953 and will then put focus back to this 0.9541 high. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 29 08 16:17 GMT |
|
|
AUD/USD's sharp fall from 0.9406 has pushed it to below the inner channel support but after all, downside is still contained above 0.9271 minor support. Outlook is turned mixed at this moment. On the downside, though, break of 0.9271 will complete an intraday head and should top and will be an indication that the whole rise from 0.8953 has completed. Deeper decline should then be seen in such. Meanwhile, above 0.406 will argue that price actions from 0.9541 is merely correction to the rise from 0.8953 and will then put focus back to this 0.9541 high. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 28 08 07:48 GMT |
|
|
AUD/USD fall from 0.9541 was contained at 0.9290 and rebounds after drawing support from the lower channel support. Touching of 0.9373 minor resistance suggests that an intraday low is in place and bias is now shifted to mildly on the upside. With AUD/USD still staying inside the channel, rally from 0.8953 should still be in progress and another rise should be seen to retest 0.9541 first. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 27 08 06:22 GMT |
|
|
AUD/USD edged to new 24 years high of 0.9541 last week but failed to sustain above prior high of 0.9469. Instead, AUD/USD fell sharply to as low as 0.9290 since then and is now pressing outer channel support (now at 0.9309). From a short term angle, initial bias remains on the downside this week as long as 0.9373 minor resistance holds. Further break of 0.9271 will indicate that rise from 0.9031, as well as that from 0.8953 has possibly both completed. In such case deeper decline should be seen. On the upside, strong rebound from 0.9271 and break of 0.9373 resistance will keep the outer rising channel intact and thus, suggest that rise from 0.8953 is still in force. Retest of 0.9541 high should then be seen in such case. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 24 08 14:46 GMT |
|
|
After making new high at 0.9541, AUD/USD's retreat extends further today and break of 0.9437 minor support, with 4 hours MACD dragged below signal line indicates that an intraday top is already in place after failing 61.8% projection of 0.8512 to 0.9496 from 0.8953 at 0.9561. Outlook is turned neutral for the moment and deeper pull back could be seen to 4 hours 55 EMA (now at 0.9383. Nevertheless, pull back should be contained well above 0.9271 support and bring rally resumption. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 23 08 07:20 GMT |
|
|
AUD/USD's rally from 0.8953 continues today and surges to new 24 year high of 0.9515 so far. At this point, intraday bias remains on the upside as long as 0.9437 minor support holds. Break of 0.9496 high indicates that medium term up trend has resumed. Further rally is now expected to next short term target of 61.8% projection of 0.8512 to 0.9496 from 0.8953 at 0.9561 first. On the downside, below 0.9437 will turn intraday outlook neutral first. But pull back should be contained well above 0.9271 support and bring rally resumption. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 22 08 13:34 GMT |
|
|
AUD/USD edges higher to 0.9463 in early US session and at this point, intraday bias remains on the upside as long as 0.9391 minor support holds. As discussed before, correction from 0.9496 should have completed with three waves down to 0.8953. The current rally from there is expected to extend to retest 0.9496 high. On the downside, below 0.9391 will turn intraday outlook neutral first. But further rally is still in favor as long as pull back is contained above 0.9271 support. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 21 08 07:10 GMT |
|
|
AUD/USD's rise from 0.9031 resumes today by taking out 0.9401 resistance and reaches as high as 0.9418 so far. At this point, intraday bias remains on the upside as long as 0.9348 minor support holds. As discussed before, correction from 0.9496 should have completed with three waves down to 0.8953. The current rally from there is expected to extend to retest 0.9496 high. On the downside, below 0.9348 will turn intraday outlook neutral first. But further rally is still in favor as long as pull back is contained above 0.9271 support. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 19 08 13:38 GMT |
|
|
AUD/USD's rise from 0.9310 resumed last week and extended to as high as 0.9401. However, upside was limited by 61.8% projection of 0.9031 to 0.9345 from 0.9205 at 0.9399 and AUD/USD retreated sharply from there. With 4 hours MACD staying below signal line, an intraday top is in place. Initial outlook will be neutral this week. Nevertheless, with 0.9205 remains intact, favor is still in the case that rise from 0.8953 is still in progress. Above 0.9401 will indicate such rally has resumed for a retest of 0.9496 high first. However break of 0.9205 will dampen this view and argue that rally from 0.8953 has completed. Short term bias will then be turned bearish in this case. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 18 08 15:48 GMT |
|
|
AUD/USD's rally was limited at 0.9401, just after touching 61.8% projection of 0.9031 to 0.9345 from 0.9205 at 0.9399, and weakens sharply since then. An intraday top is in place with 4 hours MACD dragged below signal line and outlook is turned neutral for the moment. On the upside, above 0.9401 again will suggest rise from 0.8953 has resumed for retest of 0.9496 high. On the downside, break of 0.9025 will indicate that whole rebound from 0.8953 has completed. In other words, correction from 0.9496 is possibly still in progress. In such case, deeper decline should be seen to 0.8953 or below. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 17 08 13:36 GMT |
|
|
AUD/USD turns sideway after rally from 0.9031 extended to 0.9401, touching 61.8% projection of 0.9031 to 0.9345 from 0.9205 at 0.9399. Nevertheless, intraday bias remains on the upside as long as 0.9132 minor support holds. As discussed before, correction from 0.9496 has completed at 0.8953 already. Further rally is now expected to retest 0.9496 high. On the downside, below 0.9312 will turn intraday outlook neutral first. But another rally is still in favor as long as 0.9205 support holds. |
|
Read more...
|
|
|
AUDUSD Outlook |
Written by ActionForex.com |
Apr 16 08 13:09 GMT |
|
|
AUD/USD's stronger rally and break of 0.9345 resistance today indicates that rise from 0.8953 has resumed. At this point, intraday bias remains on the upside as long as 0.9312 minor support holds. Note that break of 0.9345 reaffirms the case that correction from 0.9496 has completed at 0.8953 already. Further rally is now expected to retest 0.9496 high. On the downside, below 0.9312 will turn intraday outlook neutral first. But another rise is still in favor as long as 0.9205 support holds. |
|
Read more...
|
|
