Tue, Sep 29, 2020 @ 17:17 GMT

AUD/USD Weekly Outlook

AUD/USD dropped to as low as 0.7490 last week but formed a temporary low there and recovered. The close below 55 day EMA is consistent with our preferred case that whole rise from 0.7150 has completed at 0.7740. While some consolidations could be seen initially this week, deeper decline is expected ahead to target 0.7158 support level.

AUD/USD 4 Hours Chart

Initial bias is neutral this week for consolidations. Upside of recovery should be limited by 0.7531 resistance and bring another decline. Below 0.7490 will extend the fall from 0.7740 to target 0.7144/7158 support zone. However, break of 0.7631 resistance will dampen our bearish view and turn bias back to the upside for 0.7740 instead.

AUD/USD Daily Chart

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8185) and above.

AUD/USD Weekly Chart

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

AUD/USD Monthly Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7499; (P) 0.7553; (R1) 0.7582; More…

Intraday bias in AUD/USD stays on the downside with fall from 0.7740 still in progress. Whole rebound from 0.7158 should be completed. The pair should now target lower side of the range at 0.7144/7158 support zone. On the upside, break of 0.7631 resistance is needed to indicate completion of such decline. Otherwise, outlook will stay cautiously bearish in case of recovery.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7499; (P) 0.7553; (R1) 0.7582; More…

Intraday bias in AUD/USD stays on the downside for the moment as fall from 0.7740 extends. Whole rebound from 0.7158 should be completed. AUD/USD is now targeting lower side of the range at 0.7144/7158 support zone. On the upside, break of 0.7631 resistance is needed to indicate completion of such decline. Otherwise, outlook will stay cautiously bearish in case of recovery.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7563; (P) 0.7598; (R1) 0.7620; More…

Breach of 0.7542 temporary low suggests that fall from 0.7740 is resuming. Intraday bias in AUD/USD is turned back to the downside. As noted before, rebound from 0.7158 is finished at 0.7740. Sustained trading below 55 day EMA will pave the way back to 0.7144/7158 support zone. However, on the upside, break of 0.7631 minor resistance will dampen our bearish view and turn focus back to 0.7740 high instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7563; (P) 0.7598; (R1) 0.7620; More…

Intraday bias in AUD/USD remains neutral for the moment. With 0.7635 minor resistance intact, outlook is unchanged. That is, rebound from 0.7158 is finished at 0.7740. Below 0.7542 and sustained trading below 55 day EMA will pave the way back to 0.7144/7158 support zone. However, firm break of 0.7635 will dampen our bearish view and turn focus back to 0.7740 instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7563; (P) 0.7586; (R1) 0.7602; More…

AUD/USD recovers further today but stays below 0.7635 minor resistance. Outlook is unchanged so far. Deeper fall is still in favor as long as 0.7635 minor resistance holds. We’re holding on to the view that rebound from 0.7158 is finished at 0.7740. Below 0.7542 and sustained trading below 55 day EMA will pave the way back to 0.7144/7158 support zone. However, firm break of 0.7635 will dampen our bearish view and turn focus back to 0.7740 instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7559; (P) 0.7578; (R1) 0.7614; More…

Intraday bias in AUD/USD remains neutral for the moment for consolidation above 0.7542 temporary low. Further decline is expected as long as 0.7635 minor resistance holds. We’re holding on to the view that rebound from 0.7158 is finished at 0.7740. Below 0.7542 and sustained trading below 55 day EMA will pave the way back to 0.7144/7158 support zone. However, break of 0.7635 will dampen our bearish view and turn focus back to 0.7740 instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Weekly Outlook

AUD/USD’s sharp decline last week suggests that rebound form 0.7158 is completed at 0.7740 already. As the pair drew support from 55 day EMA and recovered, initial bias is neutral this week first. Nonetheless, further decline is expected as long as 0.7635 minor resistance holds. Break of 0.7542 and sustained trading below 55 day EMA will pave the way back to 0.7144/7158 support zone. However, break of 0.7635 will dampen our bearish view and turn focus back to 0.7740 instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

AUD/USD Weekly Chart

AUD/USD Monthly Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7524; (P) 0.7603; (R1) 0.7648; More…

AUD/USD’s fall from 0.7740 continues today and reaches as low as 0.7542 so far. Intraday bias remains on the downside for the moment. As noted before, rebound from 0.7158 has completed at 0.7740 already. Sustained trading below 55 day EMA (now at 0.7566) will pave the way to lower side of medium term range at 0.7144/7158. On the upside, above 0.7635 minor resistance will turn intraday bias neutral first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7641; (P) 0.7670; (R1) 0.7704; More…

AUD/USD’s fall today and break of 0.7605 support indicates that the rebound from 0.7158 has completed at 0.7740 already. Intraday bias is turned back to the downside for 55 day EMA (now at 0.7570) first. Sustained trading below there will pave the way to lower side of medium term range at 0.7144/7158. On the upside, break of 0.7740 will bring another rise, but we’d still expect strong resistance from 0.7777/7833 resistance zone to bring near term reversal.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8164) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7641; (P) 0.7670; (R1) 0.7704; More…

AUD/USD is still staying in range of 0.7605/7740 and intraday bias remains neutral. Another rise cannot be ruled out. However, considering bearish divergence condition in 4 hour MACD, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7570) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7636; (P) 0.7665; (R1) 0.7684; More…

AUD/USD weakens mildly today but stays in range of 0.7605/7740. Intraday bias is still neutral at this point. Another rise cannot be ruled out. However, considering bearish divergence condition in 4 hour MACD, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7566) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7654; (P) 0.7681; (R1) 0.7699; More…

AUD/USD is still bounded in range of 0.7605/7740 for the moment. Intraday bias stays neutral at this point. Another rise cannot be ruled out. However, considering bearish divergence condition in 4 hour MACD, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7559) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7648; (P) 0.7684; (R1) 0.7703; More…

AUD/USD is staying in tight range of 0.7605/7740 and intraday bias remains neutral first. The pair continued to lose upside momentum as seen in bearish divergence condition in 4 hour MACD. In case of another rise, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7560) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Weekly Outlook

AUD/USD edged higher to 0.7740 last week but quickly retreated. Initial bias stays neutral this week first. The pair continued to lose upside momentum as seen in bearish divergence condition in 4 hour MACD. In case of another rise, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7551) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

AUD/USD Weekly Chart

AUD/USD Monthly Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7673; (P) 0.7694; (R1) 0.7721; More…

Intraday bias in AUD/USD remains neutral for the moment. Another rise cannot be ruled out with 0.7605 minor support intact. However, considering bearish divergence condition in 4 hour MACD, we’d expect strong resistance from 0.7777/7833 resistance zone to limit upside and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7550) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7652; (P) 0.7671; (R1) 0.7693; More…

Intraday bias in AUD/USD remains neutral for the moment. Another rise cannot be ruled out with 0.7605 minor support intact. However, considering bearish divergence condition in 4 hour MACD, we’d expect strong resistance from 0.7777/7833 resistance zone to limit upside and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7544) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7643; (P) 0.7677; (R1) 0.7699; More…

AUD/USD is staying in tight range below 0.7731 and intraday bias remains neutral for the moment. Outlook is unchanged. With 0.7605 minor support intact, further rise cannot be ruled out yet. However, considering bearish divergence condition in 4 hour MACD, we’d expect strong resistance from 0.7777/7833 resistance zone to limit upside and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7539) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7643; (P) 0.7677; (R1) 0.7699; More…

Intraday bias in AUD/USD remains neutral for the moment. With 0.7605 minor support intact, further rise cannot be ruled out yet. However, considering bearish divergence condition in 4 hour MACD, we’d expect strong resistance from 0.7777/7833 resistance zone to limit upside and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7534) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

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AUD/USD Weekly Outlook

AUD/USD edged higher to 0.7731 last week but lost momentum quickly to close back into established range. Initial bias is neutral this week first. Further rise cannot be ruled out yet. But considering bearish divergence condition in 4 hour MACD, we’d expect strong resistance from 0.7777/7833 resistance zone to limit upside and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7528) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

AUD/USD 4 Hours Chart

AUD/USD Daily Chart

AUD/USD Weekly Chart

AUD/USD Monthly Chart

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