[Frano Grgic]

AUDUSD | AUDUSD Analysis today 9.3.2024. | AUDUSD Price Prediction forecast #AUDUSD #AUDUSDtoday

[SF Monedge]

Short AudUsd

[SF Monedge]

The sell side of AudUsd in the 6638 to 6648 area look appealing to test if seen.  When using limit orders sell near the high of the 10pt range and when buying buy near the low part of the 10 pt range.  Using buy and sell stops entering at the half mark (5) is best when cleared in my opinion.

[GVI Forex 2]

AUDUSD DAILY CHART – TRYING TO BREAKOUT

AUDUSD through .6595 and if it holds then .6625 becomes a target with a void above that level.

On the downside, .6595 needs to become support to keep the very strong bid, fallback support is .6580-95

[GVI Forex 2]

AUDUSD 4-HOUR CHART: AUDUSD the  outperformer in a weak USD day

Note the 2 red lines drawn off the low. It is our Directional Indicator indicating a potential shift in risk to the upside that has played out.

.6595 = key res, .6581 res so far holding ahead of it.

The way I look at charts .6535 needs to hold to keep the risk pointed up.

[GVI Forex 2]

AUDUSD 4-Hour Chart

Similar to USDCAD, AUDUSD had a head fake after the break of .6487 STOPPED DEAD ON AT AMAZING TRADER .6477 SUPPORT

What matters now is how AUDUSD trades vs, .6500 as only back above would neutralize the downside risk.
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The trendline and,6535 are key levels on top.

Why is the AUDUSD trading soft? China economic concerns?

[GVI Forex 2]

AUDUSD 4-Hour Chart

AUDUSD trying to build some upward momentum but would need to establish above .6531 to give it some legs.

Perhaps more important is that it is back around .6500, expect some support on dips as long as it trades above it.

Below .6484 negates upside risk.

[SF Monedge]

Also have resting purchase AudUsd just under 1.66.  Was in long yesterday but flat atm.

[SF Monedge]

AudUsd is settling down on the sell side here.  See sell side order of weight likely around 6525 and 6540

[GVI Forex 2]

AUDUSD 4-Hour Chart: 2nd weakest after weaker than forecast dip in CPI

A break of,6500 makes this the pivotal level. If it stays below it would put the key .6442 level in play.

Trades soft while below .6520, softer if below .6500

Only a break of .6558 would negate the risk to the downside.

[GVI Forex 2]

Heat Map;USD up across-the-board

NZDUSD weakest (-1.2%)

AUDUSD 2nd weakest -(-0.75%)

iSDJPY down the least, still holding below 150.89

 

 

[Forex Cycle]

AUDUSD Analysis: Sideways Move Continues, Resistance and Support Levels

The AUDUSD pair has been moving sideways within a trading range between 0.6521 and 0.6594.

As long as the 0.6521 support level holds, the pullback from 0.6594 could be seen as corrective consolidation for the uptrend from 0.6442. Another rise is still possible after the consolidation.

The initial resistance level is located at 0.6555. A breakthrough of this level could trigger another rise to test the 0.6594 resistance level. A breakthrough of this level would aim for the 0.6624 resistance level.

On the downside, a breakdown below the 0.6521 support level would indicate that the upside move has already completed at 0.6594. In this case, another fall towards the 0.6442 previous low could be seen.

[GVI Forex 2]

NZDUSD 1-hour chart

Blue lines dominate, indicating risk on the downside.

Key support is clear at .6156-61, which needs to hold to prevent a further push to the downside. Should the support zone give way then .6150 (psychological) and .6128 are next.

On the upside, .6200 is the key resistance, minor at .6185 ahead of it.

Underperformers

NZDUSD and AUDUSD were the underperformers today,

[GVI Forex 2]

AUDUSD Daily Chart: Correction or Consolidation

Wide range — .6442-.6624

Current range — .6520-.6594

Retracement risk while above .6520 but only a break of .6594 would extend it and put the key .6624 in play.

Stick with shorter time frames while within .6520-94

[Forex Cycle]

AUDUSD Breaks Free: Uptrend Resumption or False Dawn?

AUDUSD has clawed its way back from recent lows, breaking above the confines of the falling price channel on the 4-hour chart. This bullish breakout raises questions: Has the downtrend truly ended, or is this just a temporary reprieve?

Uptrend Resumed: Channel Breakout as Confirmation?

Channel Breach: The break above the falling channel, established from the 0.6870 high, signifies a potential shift in momentum. This suggests a possible end to the downtrend and the start of a new uptrend from the recent low of 0.6442.

Potential for Continued Rally:

Resistance Levels: If the uptrend continues, the next target for AUDUSD could be the 0.6624 resistance level. Surpassing this hurdle would open the door for further gains towards 0.6700, solidifying the bullish momentum.

Support Levels to Watch for Pullbacks:

Initial Support: The initial support to watch is at 0.6532. A breakdown below this level could indicate a loss of momentum and a potential pullback towards the 0.6500 area.
Key Support: A further breach below 0.6500 could trigger a decline towards the previous low of 0.6442, potentially signaling a resumption of the downtrend.

Overall Sentiment:

The technical picture offers a mixed outlook for AUDUSD. The breakout from the channel suggests a potential trend reversal, but confirmation will come from holding above the 0.6532 support and pushing towards the 0.6624 resistance. Monitoring the price action around these key levels will be crucial in determining the pair’s next move.

Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research before making any trading decisions.

[Forex Cycle]

AUDUSD Bounces, But Can It Break the Downtrend?

AUDUSD has staged a comeback from its recent low of 0.6442, but faces a stiff challenge at the upper boundary of the falling price channel on the 4-hour chart. This resistance zone will determine whether the current rally is a mere blip in the downtrend or a sign of a potential trend reversal.

Upside Potential: Can the Rally Extend?

• 0.6624 Resistance in Sight: If the bulls manage to push the price above the price channel resistance, it could signal a significant breakout and pave the way for further gains towards the next resistance level at 0.6624. This would indicate a shift in momentum and potentially mark the start of a new uptrend.

Support Levels to Watch for Downtrend Continuation

• 0.6520: Initial Hurdle: If the upside momentum fades and sellers regain control, a breakdown below the initial support level of 0.6520 could trigger another decline. This could lead to a retest of the 0.6442 support level that marked the recent low.
• Lower Support Levels: Further breakdown below 0.6442 would open the door for falls towards the 0.6400 area, solidifying the downtrend and suggesting the recent bounce was just a corrective move within the larger downward trend.

Overall Sentiment

The outcome of the price action around the 0.6520 support level and the price channel resistance will be crucial in determining AUDUSD’s next move. A breakout above the channel could indicate a potential trend reversal and upside potential towards 0.6624. Conversely, a breakdown below 0.6520 and subsequent breach of 0.6442 would reinforce the downtrend and suggest further decline towards 0.6400 or lower.

Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research before making any trading decisions.