Slobodan Drvenica
Windsor Brokers
AUDUSD
The Aussie dollar maintains positive tone on Thursday and retested strong barrier at 0.7815 (200SMA) but was so far unable to break higher.
The second rejection confirms that 200SMA is strong resistance and the pair may struggle further in attempts to break above.
Near-term action is also weighed by thickening daily cloud (cloud base lies at 0.7835) and multiple rejections at 200SMA could signal recovery stall.
Downbeat Australian jobs data in March when 4.9K new jobs were created vs 20.3K forecast, add to negative impact on near-term bulls off 0.7640 base.
Eventual break through 200SMA and penetration of daily cloud would generate stronger bullish signal for recovery extension.
Conversely, repeated close under 200SMA would signal extended sideways mode between 30/200SMA’s (0.7740/0.7815), while close below 30SMA would generate negative signal.
Res: 0.7815; 0.7835; 0.7851; 0.7900
Sup: 0.7764; 0.7751; 0.7740; 0.7720
Interested in AUDUSD 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 red below 0.6400 as Middle East war fears mount
AUD/USD is keeping heavy losses below 0.6400, as risk-aversion persists following the news that Israel retaliated with missile strikes on a site in Iran. Fears of the Israel-Iran strife translating into a wider regional conflict are weighing on the higher-yielding Aussie Dollar.
USD/JPY recovers above 154.00 despite Israel-Iran escalation
USD/JPY is recovering ground above 154.00 after falling hard on confirmation of reports of an Israeli missile strike on Iran, implying that an open conflict is underway and could only spread into a wider Middle East war. Safe-haven Japanese Yen jumped, helped by BoJ Governor Ueda's comments.
Gold price pares gains below $2,400, geopolitical risks lend support
Gold price is paring gains to trade back below $2,400 early Friday, Iran's downplaying of Israel's attack has paused the Gold price rally but the upside remains supported amid mounting fears over a potential wider Middle East regional conflict.
WTI surges to $85.00 amid Israel-Iran tensions
Western Texas Intermediate, the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.