AUD/USD, D1

On the daily chart, the instrument was corrected to the lower border of Bollinger bands, which is the key support level. The indicator reverses horizontally, and the price range is narrowed, indicating a change in the current trend. MACD histogram is in the positive zone, holding a buy signal. Stochastic does not give a clear signal to enter the market.

AUD/USD, H4

On the 4-hour chart, the instrument is trying to consolidate above the middle line of Bollinger band. The indicator is directed horizontally, and the price range has narrowed, which indicates a correction within the “bearish” trend. MACD histogram is in the negative zone, holding a sell signal. Stochastic is approaching the oversold area, a signal for opening positions has not been formed.

Key levels

Resistance levels: 0.7249, 0.7308, 0.7336, 0.7377.

Support levels: 0.7217, 0.7188, 0.1757, 0.7118, 0.7085, 0.7048.

Trading tips

Short positions can be opened from the current level with the target at 0.7162 and stop loss 0.7295.

Long positions can be opened above the level of 0.7275 with the target at 0.7340 and stop loss 0.7250.

Implementation period: 1–2 days.

Australian vs US Dollar

BuySellSpread
0.718240.71704120

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point0.7258
Take Profit0.7162
Stop Loss0.7295
Support levels0.7048, 0.7085, 0.7118, 0.1757, 0.7188, 0.7217, 0.7249, 0.7308, 0.7336, 0.7377

Alternative scenario

RecommendationsBUY STOP
Entry Point0.7280
Take Profit0.7340
Stop Loss0.7250
Support levels0.7048, 0.7085, 0.7118, 0.1757, 0.7188, 0.7217, 0.7249, 0.7308, 0.7336, 0.7377
AUD/USD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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