AUD/USD technical analysis
-
AUD/USD is bullish on H1 timeframe.
-
The price needs further bullish momentum.
-
Bulls need to keep the price above the D L3 pivot.
-
Potential move down only below the D L3 camarilla.
H1 chart AUD/USD
-
Ascending trendline.
-
Consolidation.
-
Order block.
-
Bullish target.
-
Bearish target.
The price is bullish with a big potential to proceed further up. If the market remains positive with momentum we could see a move up. 0.7350 zone is where the price should bounce from. Have in mind that the daily timeframe also turned bullish but we have the US CPI data. The CPI might determine the short term direction on the AUD/USD. The price above 0.7350 is bullish and it is targeting 0.7415. The price below 0.7330 is bearish and will be targeting 0.7272. This is the intraday setup and prediction for the AUD/USD.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 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.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
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.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
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.