AUD/USD outlook: Neutral near-term tone while the price ranges within daily cloud

Slobodan Drvenica Windsor Brokers

AUD/USD

AUDUSD remains in a sideways mode for the third straight day, with near term price action moving within a narrow daily cloud.
Upticks above cloud top (0.6512) were repeatedly capped by daily Kijun-sen (0.6522) that resulted in attack at cloud base (0.6474, also Fibo 61.8% of 0.6419/0.6568 upleg), which so far contained dips.

No clear direction signal expected while the price stays within the cloud, though strengthening positive momentum on daily chart, Stochastic about to emerge from oversold territory and converged daily Tenkan/Kijun-sen attempting to form a bull-cross, point to slight bullish alignment.

Bullish scenario sees break above cloud top and Kijun-sen, to open way for attack at 0.6568 (Aug 14 high) and possibly unmask 2025 peak (0.6625, posted on July 24)

Conversely, sustained break below cloud base would expose supports at 0.6450 (100DMA) and 0.6419 (Aug 1 low).

Res: 0.6512; 0.6522; 0.6568; 0.6595.
Sup: 0.6474; 0.6450; 0.6419; 0.6372.

Interested in AUD/USD technicals? Check out the key levels

1. R3 0.6559
2. R2 0.6542
3. R1 0.6517
PP 0.6499
1. S1 0.6474
2. S2 0.6456
3. S3 0.6431

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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