TRENDING:

XAU/USD

Silver

AUD/USD Price Analysis: Bears gearing up for a breakout of ascending wedge

AUD/USD is losing its bullish stance in early Asia.
Bears await confirmations that structure to the downside is broken.

Ross J Burland FXStreet

AUD/USD has been climbing through the start of the week, rallying from a low of 0.6841 to score a high of 0.6868. However, from a top-down analysis, the pair looks to be riping for a short below trendline support.

An ascending wedge on the lower time frames supports the bearish outlook. However, bears might be prudent for a break below zero in MACD on the 15 min time frame to confirm the bearish territory with price below the 21 moving average.

Daily chart

An elongated symmetrical triangle and Fibonacci structural confluence on the way to a key downside target.

4HR chart

The price has met structure prior resistance and has failed.

Shorter-term chart

Price is testing trendline support.

15-min MACD remains bullish

Bears will await a break of the 21 moving average and a cross below zero for a prudent short entry, preferably on a retest of resistance turned to support for confirmation.

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 0.6854

39% Bullish
38% Bearish
23% Sideways

Bias Neutral

1 Month

Avg Forecast 0.6581

23% Bullish
64% Bearish
13% Sideways

Bias Bearish

1 Quarter

Avg Forecast 0.6603

10% Bullish
58% Bearish
32% Sideways

Bias Bearish

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.