Slobodan Drvenica
Windsor Brokers
AUD/USD
AUDUSD regained strength and advanced on Thursday, offsetting negative impact from Wednesday’s strong upside rejection under the base of rising daily cloud.
Several signals point to basing attempts and formation of reversal pattern on daily chart, such as Monday’s Hammer candle with long tail and a bear-trap.
Hammer is also forming on weekly chart, while long-tailed monthly Doji adds to signals that bears are losing traction.
Daily studies are mixed (momentum indicator is in negative territory and MA’s in bearish setup), but thinning and rising daily cloud attracts.
Break of 0.6573 (50% retracement of 0.6796/0.6348/daily Kijun-sen) is needed to boost positive signal for retest of cloud base (0.6599) and attack at Fibo 61.8% (0.66626).
Holding above broken 10DMA (0.6526) is minimum requirement to keep near-term bulls in play.
Res: 0.6573; 0.6592; 0.6601; 0.6626.
Sup: 0.6526; 0.6507; 0.6472; 0.6455.
Interested in AUD/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
AUD/USD keeps the positive outlook above 0.6615
AUD/USD traded in an inconclusive fashion in line with the broader sentiment in the FX galaxy, hovering around the 0.6660 zone as investors got ready for the release of US CPI data on Wednesday.
EUR/USD looked under pressure and approached 1.1000
EUR/USD navigated with modest losses and traded at shouting distance from the key support at 1.1000 the figure amidst a vacillating mood in the Greenback prior to the publication of US inflation readings.
Gold holds modest intraday gains above $2,510
Gold struggles to build on Monday's gains but manages to hold near $2,500 on Tuesday. Investors refrain from taking large positions ahead of Wednesday's highly-anticipated US inflation data for August, limiting XAU/USD's volatility.
XRP could benefit from Ripple stablecoin, according to a crypto analyst on X.com
Ripple (XRP) recently announced the launch of its stablecoin project, Ripple USD (RLUSD). In an interview at Korea Blockchain Week in the first week of September, CEO Brad Garlinghouse said that the asset’s launch is weeks away.
Five Fundamentals for the week: Jittery markets fear the ECB, US inflation and more Premium
Is there still a chance? Investors hope for a 50-bps rate cut from the Fed but also fear a global recession is underway. The world's three largest economies, the US, China, and the eurozone, are set to rock global markets.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.