The AUD USD analysis is simply a package that allows a trader to see the currency exchange rate of AUD USD from the time past to the present. It is the graphical representation of the historical currency exchange rates. There is so much a person can do with the AUD USD graph; as a matter of fact, analysts refer to them for their analysis. As is always the case, there is always something going on with currency pairs like the AUD USD pair.
AUD USD CHART ANALYSIS 28TH MAY:
According to the past AUD USD analysis, the price of the pair was in a trendless consolidation between 0.7750 and 0.7150. From rejections of notable support and resistance level, there was a wide swing all within the pattern of wide consolidating swings. There was a bearish move on the medium of the short term for a while but the price eventually moved up with a number of momentums over recent hours. However, there is a possibility that the price will consolidate within the nearest support and resistance levels, which remains untouched. It was also proposed that there may be minor resistance at 0.7450.
AUD USD CHART ANALYSIS 30TH MAY:
A more recent analysis of the AUD USD has it that the pair went down in a notable steep. This is as a result of the sentimental reaction surrounding the expected release of the Australian economic data. Even though the price of the AUD USD pair fell a few hours before the release, it eventually recovered. That notwithstanding, the pair may now be establishing new resistance at about 0.7420. Looking at the way things are aligned in the AUD USD chart at this time, there is not much of a trend in the pair, but the already established medium tern downwards move is still there. As a matter of fact, it seems this move is more likely to continue that reverse.
THE AUD USD FOREX SIGNAL:
From the signal, the pair is at a risk of about 0.75%. At this rate, here are some suggestions on what to do for a short trade
Using the H1 time frame, it is wise to go short following some bearish price actions as soon as there is a next touch on 0.7445.
Recognize the local swing high and place your stop loss order at 1 pip above it.
With time, as the trade progresses, it will get to 20 pips in profit. As this time, adjust the stop loss to break even.
As a way of risk management, remove 50% of the position as profit made at the point of 20 pips in profit. There will be 10 pips left, which should be left to run.
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