AUDUSD closed below recent uptrend line.

Near term downside risk is increased.

We still could not rule out a large ABC correction target 0.7317 eventually.

However, it's just before month-end re-balancing and NFP, we should be cautious here.
 
Daily support    Levels: 0.7482 0.7461 0.7449 0.7406

Daily resistance Levels: 0.7509 0.7523 0.7542 0.7561

Intraday Trade Idea: (spot 0.7496)

①Buy Limit @ 0.7407 SL @ 0.7390 Take Profit @ 0.7438

②Sell  Limit @ 0.7526 SL @ 0.7553 Take Profit @ 0.7477

Click on the image to enlarge

audusd chart 1

audusd chart 2

audusd chart 3

We provide Daily FX Report, Trade Copy, Email Alert and MT4 EA Rental. Free trial and 30 Days Money Back policy will be valid forever!. All the services could be Free

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD retreats toward 1.0850 on modest USD recovery

EUR/USD retreats toward 1.0850 on modest USD recovery

EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.

EUR/USD News

GBP/USD holds above 1.2650 following earlier decline

GBP/USD holds above 1.2650 following earlier decline

GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.

GBP/USD News

Gold climbs to multi-week highs above $2,400

Gold climbs to multi-week highs above $2,400

Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.

Gold News

Chainlink social dominance hits six-month peak as LINK extends gains

Chainlink social dominance hits six-month peak as LINK extends gains

Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday. 

Read more

Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates

Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates

After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.

Read more

Majors

Cryptocurrencies

Signatures