Current trend
The last week was not easy for the pair. AUD weakness is formed against the backdrop of the RBA's prudent position on monetary policy. Until the end of this week, no significant macroeconomic releases from Australia are planned, so the further trend of the instrument depends on the USD.
Today, a number of important macroeconomic publications are expected in the US, but the key event of this week is the new head of the Fed, Jerome Powell's speech, which will take place tomorrow. Market participants are cautious before the speech, so the impact of today's releases on the price will be limited.
Support and resistance
On the H4 chart, the instrument broke through the upper border of the Bollinger bands and continued growing, while the resistance level of 0.7880 is still relevant. The indicator corrected sideways, and the price range expanded, indicating further growth of the pair.
MACD histogram is corrected at the zero mark, the signal for entering the market is not formed.
Stochastic entered the overbought area, a strong sell signal can be formed in the next few hours.
Support levels: 0.7770, 0.7795, 0.7840, 0.7860, 0.7880.
Resistance levels: 0.7910, 0.7940, 0.7975.
Trading tips
Long positions can be opened at the current level with targets at 0.7940, 0.7970. Stop-loss – 0.7850. Implementation period: 1-2 days.
Short positions may be opened from the level of 0.7835 with target at 0.7770 and stop-loss at 0.7865. Implementation period: 1 day.
Australian vs US Dollar
Buy Sell Spread
0.78734 0.7871 24
Scenario
Timeframe Day's Range
Recommendations BUY
Entry Point 0.7885
Take Profit 0.7940, 0.7970
Stop Loss 0.7850
Support levels 0.7770, 0.7795, 0.7840, 0.7860, 0.7880, 0.7910, 0.7940, 0.7975
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7830
Take Profit 0.7770
Stop Loss 0.7865
Support levels 0.7770, 0.7795, 0.7840, 0.7860, 0.7880, 0.7910, 0.7940, 0.7975
The last week was not easy for the pair. AUD weakness is formed against the backdrop of the RBA's prudent position on monetary policy. Until the end of this week, no significant macroeconomic releases from Australia are planned, so the further trend of the instrument depends on the USD.
Today, a number of important macroeconomic publications are expected in the US, but the key event of this week is the new head of the Fed, Jerome Powell's speech, which will take place tomorrow. Market participants are cautious before the speech, so the impact of today's releases on the price will be limited.
Support and resistance
On the H4 chart, the instrument broke through the upper border of the Bollinger bands and continued growing, while the resistance level of 0.7880 is still relevant. The indicator corrected sideways, and the price range expanded, indicating further growth of the pair.
MACD histogram is corrected at the zero mark, the signal for entering the market is not formed.
Stochastic entered the overbought area, a strong sell signal can be formed in the next few hours.
Support levels: 0.7770, 0.7795, 0.7840, 0.7860, 0.7880.
Resistance levels: 0.7910, 0.7940, 0.7975.
Trading tips
Long positions can be opened at the current level with targets at 0.7940, 0.7970. Stop-loss – 0.7850. Implementation period: 1-2 days.
Short positions may be opened from the level of 0.7835 with target at 0.7770 and stop-loss at 0.7865. Implementation period: 1 day.
Australian vs US Dollar
Buy Sell Spread
0.78734 0.7871 24
Scenario
Timeframe Day's Range
Recommendations BUY
Entry Point 0.7885
Take Profit 0.7940, 0.7970
Stop Loss 0.7850
Support levels 0.7770, 0.7795, 0.7840, 0.7860, 0.7880, 0.7910, 0.7940, 0.7975
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7830
Take Profit 0.7770
Stop Loss 0.7865
Support levels 0.7770, 0.7795, 0.7840, 0.7860, 0.7880, 0.7910, 0.7940, 0.7975