Trend analysis
On the daily chart, AUD/USD is bullish (this uptrend was formed on 4/2020). AUD/USD is moving around 0.756 - 0.766 and makes a dovish sign for this week.
Resistance/support levels
The resistances are 0.770 and 0.786.
The supports are 0.756 and 0.740.
Moving average
On the daily chart, the EMA20 crossed the SMA50 and went down, showing the short-term bullish trend. Both the two SMA50/EMA20 are above the SMA200 and make a huge distance, so the bulls keeps on dominating the trend on the mid-term and long-term.
On the 4-hour chart, the EMA20 crossed continuously the SMA50, which makes an accumulation. However, both the EMA20/SMA50 keep on with going down and make distance from the SMA200, so in this week, there is a chance for AUD/USD to retest the trendline at 0.766
On the 1-hour chart, the EMA20 crossed the two SMA50/SMA200 and went down. Traders should keep an eye on the SMA50, if it crosses the SMA200 and goes down, that is clearly that the bears will significantly join.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.