2016-08-10 11:34:01

Technical data of the currency pair:

Previous closing: 0.7672; Daily range: 0.7662-0.7708;
Opening: 0.7672; 52- week range: 0.6824-0.7836;
Annual revenue: +3.71%; Change in % for the previous day: +0.27.

Analytical review:

  • ​Over the past two weeks the AUD has grown by over 200 points against the USD. Resistance and support levels for the pair are 0.7465, 0.7570 и 0.7675;
  • Australian statistics released today, shows that home loans in June have increased by 1.25 against the previous decline of 0.8%;
  • Technical analysis shows that the AUD will continue to rise. The price has broken out and consolidated above resistance level of 0.7675. MACD histogram is in the positive zone and continues to rise (timeframe Н4);
  • “Commitments of Traders shows ambiguous picture. Large investors have increased the number of long positions by 2905 contracts. Short positions have been increased by 2777 contracts;
  • Important news of this week will include US core retail sales index and producer price index (Friday).

Summary:

  • ​Positive Australian statistics support demand for the AUD. Technical analysis shows that uptrend in the currency pair AUD/USD will continue. According to “СОТ”, large investors do not have general opinion about the AUD.
  • It is expected that the AUD will rise against the USD in the near future. It is advisable to open long positions.

Trading tips for the currency pair AUD/USD

Key levels:
Support levels: 0.7675, 0.7570 and 0.7465.
Resistance level: 0.7760.

Medium-term trading, Н4
Currently, the currency is traded at the demand zone of 0.7675-0.7690. If the price maintains this zone and in case of the respective confirmation (for example- Price Action pattern), it is advisable to open long positions. Risk per trade is not more than 2% of the capital. Stop order can be placed slightly below the signal line. Take profit can be placed in parts at the levels of : 0.7740, 0.7790 and 0.7840 with the use of trailing stops.

Medium-term trading, Н4
Medium-term trading, Н4

Short-term trading, М15
Currently, the currency is traded in the range of 0.7685-0.7705. It is advisable to enter the market after breaking out and testing of this zone. Positions can be opened at the signal line and the nearest support/resistance level. Risk per trade is not more than 3% of the capital. Stop order can be placed slightly above/below the signal line. Take profit can be placed in parts of 50%, 30% and 20% with the use of trailing stops.

Short-term trading, М15
Short-term trading, М15