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  • AUD/USD Forecast – Can Aussie Dollar Correct Higher Vs US Dollar?

    AUD/USD Forecast – Can Aussie Dollar Correct Higher Vs US Dollar?

    • – The Aussie Dollar declined heavily and traded towards the 0.7250 support against the US Dollar.
    • – Later, there was a break above a key bearish trend line with resistance at 0.7270 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the National Australia Bank Business Confidence for July 2018 was released.
    • – The outcome was above the forecast of 6 as there was a rise in the confidence index to 7.

    Australia’s National Australia Bank Business Confidence

    Recently in Australia, the National Australia Bank Business Confidence for July 2018 was released. The market was positioned for no change in the National Australia Bank Business Confidence Index from the last reading of 6.

     

    The actual result was above the forecast of 6 as there was a rise in the confidence index to 7. However, the National Australia Bank Business Conditions index posted a decline from the last reading of 15 to 12, whereas the market was looking for no change.

     

    The AUD/USD pair is consolidating above the 0.7250 support area and it could correct higher towards 0.7300-0.7320 in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar was under a lot of pressure this past week after forming a top near the 0.7410 level against the US Dollar. The AUD/USD pair declined heavily, broke the 0.7350, 0.7320 and 0.7280 support levels, and also settled below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair found support above the 0.7250 level and it later started consolidating losses. It broke a key bearish trend line with resistance at 0.7270 on the hourly chart. However, there was no momentum above the 0.7290-0.7300 zone.

     

    An initial resistance is the 23.6% Fib retracement level of the last decline from the 0.7452 high to 0.7256 low. A push above the 0.7310-20 zone could open the doors for a larger upward move towards the 0.7350 level and the 50% Fib retracement level of the last decline from the 0.7452 high to 0.7256 low.

     

    On the other hand, if the pair fails to hold the 0.7250-55 support area, it may perhaps decline towards the 0.7220 support level in the near term.

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  • AUD/USD Forecast – Aussie Dollar Facing Tough Challenge Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Facing Tough Challenge Vs US Dollar

    • – The Aussie Dollar recovered recently and tested a key resistance at 0.7410 against the US Dollar.
    • – There was a break above a major bearish trend line with resistance at 0.7370 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the TD Securities Inflation report for July 2018 was released by The University of Melbourne – Faculty of Economics and Commerce.
    • – The outcome was above the forecast of 0% (MoM) as there was a rise in the TD Securities Inflation by 0.1%.

    Australia’s TD Securities Inflation

    Recently in Australia, the TD Securities Inflation report for July 2018 was released by The University of Melbourne – Faculty of Economics and Commerce. The market was positioned for no change in the TD Securities Inflation compared with the previous month.

     

    The actual result was above the forecast of 0% (MoM) as there was a rise in the TD Securities Inflation by 0.1%. Looking at the yearly change, there was a rise of 2%, similar to the last reading.

     

    The AUD/USD pair is currently struggling to move above the 0.7400 and 0.7410 resistance levels, which could result in a downside move.

     

    AUD/USD Technical Analysis

    The Aussie Dollar formed a decent support near the 0.7345 level against the US Dollar. The AUD/USD pair started an upside move and traded above the 0.7360 and 0.7380 resistance levels to settle above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair even broke the 50% Fib retracement level of the last decline from the 0.7440 high to 0.7348 low. Moreover, there was a break above a major bearish trend line with resistance at 0.7370 on the hourly chart of the AUD/USD pair.

     

    However, the pair struggled to clear the 0.7400 and 0.7410 resistance levels. There was also no close above the 61.8% Fib retracement level of the last decline from the 0.7440 high to 0.7348 low.

     

    At the moment, the pair is struggling to close above the 100 hourly SMA, and is trading near the 0.7395 level. It seems like the pair may correct lower towards the broken resistance at 0.7375. Dips in AUD/USD remains supported near 0.7375 and 0.7360, but it has to break the 0.7400 barrier for more gains.

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  • AUD/USD Forecast – Aussie Dollar Struggling Near Major Resistance Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Struggling Near Major Resistance Vs US Dollar

    • – The Aussie Dollar is facing a significant resistance near 0.7435-40 against the US Dollar.
    • – There is a key bullish trend line in place with support at 0.7380 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the Consumer Price Index for Q2 2018 was released by the RBA and republished by the Australian Bureau of Statistics.
    • – The outcome was below the forecast of +2.2% (YoY) as there was a rise in the CPI by 2.1%.

    Australia’s Consumer Price Index

    Recently in Australia, the Consumer Price Index for Q2 2018 was released by the RBA and republished by the Australian Bureau of Statistics. The market was positioned for a rise in the CPI by around 2.2% in Q2 2018 compared with the same quarter a year ago.

     

    The actual result was below the forecast of +2.2% (YoY) as there was a rise in the CPI by 2.1%. Looking at the quarterly change, there was a rise of 0.4%, which was less than the forecast of 0.5%, but similar to the last reading of 0.4%.

     

    The AUD/USD pair struggled to break an important resistance area near 0.7435 and 0.7440, and started a downside move.

     

    AUD/USD Technical Analysis

    The Aussie Dollar moved higher from the 0.7330 swing low against the US Dollar. The AUD/USD pair jumped above the 0.7380 and 0.7400 resistance levels, and even settled above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    However, the pair faced a strong resistance area near the 0.7435 and 0.7440 levels. The stated levels also prevented gains above 0.7450 on many occasions. The pair dipped and traded below the 50% Fib retracement level of the last wave from the 0.7359 low to 0.7447 high.

     

    At the moment, the pair is trading near the 0.7400 support and the 100 hourly SMA. Moreover, the 61.8% Fib retracement level of the last wave from the 0.7359 low to 0.7447 high is also acting as a support.

     

    There is also a key bullish trend line in place with support at 0.7380 on the hourly chart of the AUD/USD pair. As long as the pair is above the 0.7380 support, it could make another attempt to break the 0.7440 resistance.

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  • AUD/USD Forecast – Aussie Dollar Facing Key Resistance Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Facing Key Resistance Vs US Dollar

    • – The Aussie Dollar recovered nicely from the 0.7365 swing low against the US Dollar.
    • – There is a major bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair.
    • – Recently in China, the Gross Domestic Product (GDP) for Q2 2018 was released by the National Bureau of Statistics of China.
    • – The outcome was above the forecast of +1.6% as there was a rise in the Chinese GDP by 1.8% (QoQ).

    China’s Gross Domestic Product

    Recently in China, the Gross Domestic Product (GDP) for Q2 2018 was released by the National Bureau of Statistics of China. The market was positioned for a rise in the GDP by 1.6% in Q2 2018 compared with the previous quarter.

     

    The actual result was above the forecast of +1.6% as there was a rise in the Chinese GDP by 1.8%. Considering the yearly change, there was a rise of 6.7% in the GDP, which was in line with the forecast, but less than the last reading of +6.8%.

     

    The AUD/USD pair is placed in a bullish zone, but it has to break the 0.7430-35 resistance zone to accelerate gains in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a decent upside move from the 0.7360 low against the US Dollar. The AUD/USD pair traded above the 0.7400 level to move into a bullish zone. An intermediate low was formed at 0.7367 and the pair is currently trading above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The recent upside move faced a strong resistance near the 0.7435 level. There is also a major bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair. The pair is currently correcting lower and it already broke the 23.6% Fib retracement level of the last wave from the 0.7367 low to 0.7435 high.

     

    However, there are many supports on the downside, starting with 0.7410 and the 100 hourly SMA. Below this, the 0.7400 level is a key support along with the 50% Fib retracement level of the last wave from the 0.7367 low to 0.7435 high.

     

    As long as the pair is above the 0.7400 support area, it could make an upside move above 0.7430 resistance in the near term. If not, it could retest the 0.7365 low.

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  • AUD/USD Forecast – Can Aussie Dollar Continue Higher Vs US Dollar

    AUD/USD Forecast – Can Aussie Dollar Continue Higher Vs US Dollar

    • – The Aussie Dollar is placed nicely above the 0.7380 support area against the US Dollar.
    • – There is a key bullish trend line formed with support near 0.7385 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the trade balance report for May 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was below the forecast of 1,200M as there was a trade surplus of 827M.

    Australia’s Trade Balance

    Recently in Australia, the trade balance report for May 2018 was released by the Australian Bureau of Statistics. The market was positioned for a trade surplus of 1,200M compared with the last surplus of 977M.

     

    The actual result was below the forecast of 1,200M as there was a trade surplus of 827M. Moreover, the last reading was revised down from 977M to 472M. Exports of goods and services in May 2018 gained 4%, more than the last -2%. . Imports of goods and services in May 2018 increased 3%, more than the last 0%.

     

    The AUD/USD pair is currently correcting lower, but there are many important supports on the downside around the 0.7380 level.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a solid upside move from the 0.7300 support area against the US Dollar. The AUD/USD pair jumped above the 0.7350 and 0.7380 resistance levels and settled above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The upside move was strong as the pair moved above the 0.7400 resistance. A high was formed at 0.7424 before the pair started a downside correction. It is currently moving towards the 23.6% Fib retracement level of the last wave from the 0.7313 low to 0.7424 high.

     

    However, there are many supports on the downside around the 0.7380 level. There is also a key bullish trend line formed with support near 0.7385 on the hourly chart of the AUD/USD pair.

     

    If the pair fails to hold the 0.7380 support, it could test the 50% Fib retracement level of the last wave from the 0.7313 low to 0.7424 high at 0.7368. On the upside, a break above the 0.7420 resistance may push the pair towards the 0.7450 level.

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  • AUD/USD Forecast – Aussie Dollar Could Extend Declines Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Could Extend Declines Vs US Dollar

    • – The Aussie Dollar declined heavily and broke the 0.7480 support against the US Dollar.
    • – There is a key bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the House Price Index for Q1 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of -1.0% as there was a decline of 0.7% in the index (QoQ).

    Australia’s House Price Index

    Recently in Australia, the House Price Index for Q1 2018 was released by the Australian Bureau of Statistics. The market was positioned for a decline of around 1.0% in the HPI in Q1 2018 compared with the previous quarter.

     

    The actual result was above the forecast of -1.0% as there was a decline of 0.7% in the index. The yearly change in the GDP was also above the forecast of +1.7%, as there was a rise of 2.0% in the HPI. However, the current reading was well below the last reading of +5.0%.

     

    The AUD/USD pair is currently in a bearish zone and it seems like the pair may accelerate declines below 0.7400 in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar faced a solid selling interest above the 0.7520 level against the US Dollar. The AUD/USD pair started a major downside move and traded below the 0.7500 and 0.7480 resistance levels to move into a bearish zone below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The decline was such that the pair even broke the 0.7440 and 0.7400 support levels. A low was formed near 0.7392 before the pair started upside correction. It traded higher above the 0.7400 level and the 23.6% Fib retracement level of the last decline from the 0.7453 high to 0.7392 low.

     

    However, the upside move was capped by the 0.7425 resistance. Moreover, the 50% Fib retracement level of the last decline from the 0.7453 high to 0.7392 low acted as a barrier.

     

    The pair is again trading lower and it may perhaps break the recent low near 0.7392 for more losses in the near term. On the upside, there is a key bearish trend line formed with resistance near 0.7430 on the hourly chart of the AUD/USD pair.

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  • AUD/USD Forecast – Aussie Dollar Remains in Uptrend Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Remains in Uptrend Vs US Dollar

    • – The Aussie Dollar traded higher recently and settled above 0.7640 against the US Dollar.
    • – There was a break above a major bearish trend line with resistance at 0.7630 on the hourly chart of the AUD/USD pair.
    • – Recently in Australia, the Gross Domestic Product for Q1 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 0.9% as the GDP grew by 1% in Q1 2018 (QoQ).

    Australia’s Employment Change

    Recently in Australia, the Gross Domestic Product for Q1 2018 was released by the Australian Bureau of Statistics. The market was positioned for a rise of around 0.9% in the GDP in Q1 2018 compared with the previous quarter.

     

    The actual result was above the forecast of 0.9% as the GDP grew by 1% in Q1 2018. The yearly change in the GDP was also above the forecast of 2.8%, as there was a rise of 3.1% in the GDP, which was also a lot higher than the last 2.5%.

     

    The AUD/USD pair moved higher and it is currently placed nicely in a bullish zone above the 0.7600 and 0.7640 support levels.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a solid upside move from the 0.7550 swing low against the US Dollar. The AUD/USD pair jumped above a few resistance levels and settled above 0.7600 and the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    During the upside, there was a break above a major bearish trend line with resistance at 0.7630 on the hourly chart of the AUD/USD pair. The pair also succeeded in breaking the 0.7640 resistance, opening the doors for more gains.

     

    The recent high was at 0.7664 before the pair started consolidating gains. On the downside, an initial support is near the 23.6% Fib retracement level of the last wave from the 0.7594 low to 0.7664 high at 0.7647.

     

    However, there are many supports on the downside near 0.7620 and a bullish trend line on the same chart. On the upside, a break above the 0.7660 level may open the doors for more gains, possibly towards the 0.7700 handle in the near term.

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  • AUD/USD Forecast – Aussie Dollar may Trade Further Higher Vs US Dollar

    AUD/USD Forecast – Aussie Dollar may Trade Further Higher Vs US Dollar

    • – The Aussie Dollar gained upside momentum and moved above the 0.7500 resistance against the US Dollar.
    • – The AUD/USD pair is currently testing a key bearish trend line with resistance at 0.7545 on the hourly chart.
    • – Recently in Australia, the Employment Change for April 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 20K as there was a change of 22.6K in the employment.

    Australia’s Employment Change

    Recently in Australia, the Employment Change for April 2018 was released by the Australian Bureau of Statistics. The market was positioned for a change of 20K in the employment compared with the last reading of 4.9K.

     

    The actual result was above the forecast of 20K as there was a change of 22.6K in the employment. However, the unemployment rate posted a rise from the last reading of 5.5% to 5.6%. The report stated that:

     

    Unemployment increased 10,600 to 741,000. The number of unemployed persons looking for full-time work decreased 17,100 to 506,100 and the number of unemployed persons only looking for part-time work increased 27,600 to 234,900.

     

    The AUD/USD pair spiked higher above 0.7520 and it seems like the pair may continue to move higher in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar found strong buying interest near the 0.7440 level against the US Dollar. The AUD/USD pair started an upside move and traded above the 0.7460 and 0.7500 resistance levels to settle above the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair also moved above the 50% Fib retracement level of the last decline from the 0.7566 high to 0.7447 low. At the moment, the AUD/USD pair is currently testing a key bearish trend line with resistance at 0.7545 on the hourly chart.

     

    The pair has to break the trend line resistance, and settle above the 76.4% Fib retracement level of the last decline from the 0.7566 high to 0.7447 low for more gains.

     

    A successful close above 0.7545 and 0.7550 could clear the path for a push towards the 0.7580 and 0.7600 resistance levels. On the downside, supports are seen at 0.7520 and 0.7500 where buyers are likely to protect declines.

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  • AUD/USD Forecast – Aussie Dollar Facing Major Resistance Vs US Dollar

    AUD/USD Forecast – Aussie Dollar Facing Major Resistance Vs US Dollar

    • – The Aussie Dollar started a decent recovery after trading as low as 0.7471 against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7530 on the hourly chart of AUD/USD.
    • – Recently in Australia, the trade balance report for March 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of 650M as there was a trade surplus of 1,527M.

    Australia’s Trade Balance

    Recently in Australia, the trade balance report for March 2018 was released by the Australian Bureau of Statistics. The market was positioned for a trade surplus of 650M, compared with the last 825M.

     

    The actual result was above the forecast of 650M as there was a trade surplus of 1,527M. Imports of goods and services in March 2018 rose 1%, which was better than the last 0%. Exports of goods and services in March 2018 rose 1%, which was above the last 0%.

     

    The AUD/USD pair is currently trading higher, but it has to break the 0.7530 resistance level to gain further in the near term.

     

    AUD/USD Technical Analysis

    The Aussie Dollar declined recently and broke the 0.7500 support area against the US Dollar. The AUD/USD pair even traded below the 0.7480 support and formed a low at 0.7471. Later, it started an upside correction and moved above 0.7500.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    The pair also recovered above the 38.2% Fib retracement level of the last decline from the 0.7583 high to 0.7471 low. However, there are many hurdles on the upside near 0.7530 and the 100 hourly simple moving average.

     

    There is also a major bearish trend line forming with resistance at 0.7530 on the hourly chart of AUD/USD. The same trend line is close to the 50% Fib retracement level of the last decline from the 0.7583 high to 0.7471 low.

     

    Therefore, a break above 0.7530 and the 100 hourly SMA is must for more gains in the near term. If the pair fails to move above the 0.7530 resistance, it could resume its downtrend. On the downside, supports are at 0.7500 and 0.7480. A break below 0.7480 and 0.7470 could open the doors for a push towards 0.7450.

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  • AUD/USD Forecast – Can Aussie Dollar Break This Resistance Vs US Dollar?

    AUD/USD Forecast – Can Aussie Dollar Break This Resistance Vs US Dollar?

    • – The Aussie Dollar declined recently and traded towards 0.7550 against the US Dollar.
    • – There is a crucial bearish trend line forming with resistance at 0.7580 on the hourly chart of AUD/USD.
    • – Recently in Australia, the Import Price Index for Q1 2018 was released by the Australian Bureau of Statistics.
    • – The outcome was above the forecast of +1.3% as there was a rise in the index by 2.1% (QoQ).

    Australia’s Import Price Index

    Recently in Australia, the Import Price Index for Q1 2018 was released by the Australian Bureau of Statistics. The market was positioned for a rise of 1.3% in the index in Q1 2018 compared with the previous quarter.

     

    The actual result was above the forecast of +1.3% as there was a rise in the index by 2.1% (QoQ). This was also above the last reading of 2%. Similarly, the Export price index registered a rise of 4.9%, which was more than the forecast of 4.1%.

     

    The AUD/USD pair is currently consolidating above the 0.7500 support, but it remains at a risk of more declines.

     

    AUD/USD Technical Analysis

    The Aussie Dollar started a major downside move from the 0.7800 swing high against the US Dollar. The AUD/USD pair declined and tumbled by more than 200 pips below 0.7600. During the decline, it broke the 0.7650 and 0.7620 support levels to settle below the 100 hourly simple moving average.

     

    AUD/USD Technical Analysis Aussie Dollar US Dollar

     

    It traded as low as 0.7551 and is currently consolidating losses. An initial resistance is near the 23.6% Fib retracement level of the last decline from the 0.7682 high to 0.7551 low. There is also a crucial bearish trend line forming with resistance at 0.7580 on the hourly chart of AUD/USD.

     

    The pair has to break the trend line resistance and then 0.7600 to start a recovery. Above 0.7600, the pair may face sellers near the 50% Fib retracement level of the last decline from the 0.7682 high to 0.7551 low at 0.7616.

     

    On the other hand, if the pair fails to move higher, it could decline further and break the 0.7550 support level in the near term.

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