Chart in Focus: AUDUSD
The AUDUSD reversed early-session losses today to form a bullish pin bar after dipping slightly below 0.7750 support. In recent commentaries on this market we have talked about looking to buy from between 0.7750 - 0.7650 and we can see that today price offered us this opportunity again. We see a strong potential for price to push its way up to 0.8030 key resistance from here. Traders not already long from our previous commentaries can look to buy on any short-term weakness in this market whilst above 0.7750 key support level .
Post By Nial Fuller, Founder of Learn To Trade The Market.
The AUDUSD reversed early-session losses today to form a bullish pin bar after dipping slightly below 0.7750 support. In recent commentaries on this market we have talked about looking to buy from between 0.7750 - 0.7650 and we can see that today price offered us this opportunity again. We see a strong potential for price to push its way up to 0.8030 key resistance from here. Traders not already long from our previous commentaries can look to buy on any short-term weakness in this market whilst above 0.7750 key support level .
Post By Nial Fuller, Founder of Learn To Trade The Market.
Recommended Content
Editors’ Picks
EUR/USD extends gains above 1.0700, focus on key US data
EUR/USD meets fresh demand and rises toward 1.0750 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
USD/JPY keeps pushing higher, eyes 156.00 ahead of US GDP data
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, recapturing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming intervention risks. The focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.