The Australian Dollar accelerated against its Canadian counterpart late last week when the pair bounced off it lower boundary of an ascending channel. The rate has since strengthened by 1.99%, thus reaching a six-week high near the 0.7664 mark on Monday.
It is likely that a breakout could occur through the upper boundaries of both the junior and the senior channels where the weekly resistance level at 0.76 is located during the following trading session. This assumption is likewise supported by technical indicators.
If and when this breakout occurs, the AUD/USD currency exchange rate could continue moving up without any obstruction until it reaches near 0.77.
It is likely that a breakout could occur through the upper boundaries of both the junior and the senior channels where the weekly resistance level at 0.76 is located during the following trading session. This assumption is likewise supported by technical indicators.
If and when this breakout occurs, the AUD/USD currency exchange rate could continue moving up without any obstruction until it reaches near 0.77.
Comment:
The Australian Dollar continues its neat movement in ascending patterns against the US Dollar. By the end of trading session on Tuesday, the currency pair has reached a six-week high level at 0.7664.
During the first half of Wednesday’s trading, the exchange rate made a brief retracement south. However, this decline has encountered a support set by the monthly pivot point at 0.76.
As for near future, the AUD/USD currency exchange rate is likely to continue its movement northward during the following trading session. In addition, technical indicators flash buy signals.
During the first half of Wednesday’s trading, the exchange rate made a brief retracement south. However, this decline has encountered a support set by the monthly pivot point at 0.76.
As for near future, the AUD/USD currency exchange rate is likely to continue its movement northward during the following trading session. In addition, technical indicators flash buy signals.
Comment:
Wednesday’s session was spent in a relatively calm manner for the AUD/USD currency pair, as the rate remained bouncing between the weekly pivot point and the 100– hour simple moving average.
The 55– hour simple moving average has directed the currency pair up and as a result, the pair has managed to breached the upper boundary of a descending channel and the monthly PP.
As for near future, it is likely that the currency exchange rate continues to maintain the ascending channel until a breakout occurs. Meanwhile, technical indicators flash a bullish signal.
The 55– hour simple moving average has directed the currency pair up and as a result, the pair has managed to breached the upper boundary of a descending channel and the monthly PP.
As for near future, it is likely that the currency exchange rate continues to maintain the ascending channel until a breakout occurs. Meanwhile, technical indicators flash a bullish signal.
Comment:
The US Dollar continues to appreciate against the Canadian Dollar for the second consecutive session. This movement was guided by a senior ascending channel. Also, a breakout has occurred from the SMAs as predicted.
In case the present sentiment is to persist, the currency pair likely to reaches the March high at 1.3060. Meanwhile, the 55-, 100-, and 200– hour SMAs near 1.29 was providing support for the rate to push higher.
Everything being equal, the USD/CAD exchange rate is likely to continue its movement north. In the meantime, technical indicators suggest that the bullish momentum might continue during the following trading session.
In case the present sentiment is to persist, the currency pair likely to reaches the March high at 1.3060. Meanwhile, the 55-, 100-, and 200– hour SMAs near 1.29 was providing support for the rate to push higher.
Everything being equal, the USD/CAD exchange rate is likely to continue its movement north. In the meantime, technical indicators suggest that the bullish momentum might continue during the following trading session.
Comment:
"The previous comment support to be for USD/CAD"
Contrary to expectations, the AUD/USD currency pair was constrained by bears on Thursday. This strong bearish momentum allowed the exchange rate to breakout through the lower boundary of an ascending channel, and the 55-, 100– and 200– hour SMAs.
It seems that bears could continue to be in play today and might be ready to push the currency exchange rate further south towards two weeks low level near the 0.7529 mark.
If and when this aforementioned scenario occurs, it could encounter strong resistance at 0.75 which is the weekly pivot point.
Contrary to expectations, the AUD/USD currency pair was constrained by bears on Thursday. This strong bearish momentum allowed the exchange rate to breakout through the lower boundary of an ascending channel, and the 55-, 100– and 200– hour SMAs.
It seems that bears could continue to be in play today and might be ready to push the currency exchange rate further south towards two weeks low level near the 0.7529 mark.
If and when this aforementioned scenario occurs, it could encounter strong resistance at 0.75 which is the weekly pivot point.
Comment:
The AUD/USD currency pair has made no significant advances during the last session, as any attempts to move below the 0.75 regions was limited by the support of the weekly pivot point.
The exchange rate managed to appreciate during the past few hours. However, these gains were restricted by strong resistance cluster set by the 55– hour simple moving average and the weekly PP at the 0.76 mark.
Given that the currency exchange rate has moved closer to the upper boundary of a descending channel, a breakout might be expected during the following trading session.
The exchange rate managed to appreciate during the past few hours. However, these gains were restricted by strong resistance cluster set by the 55– hour simple moving average and the weekly PP at the 0.76 mark.
Given that the currency exchange rate has moved closer to the upper boundary of a descending channel, a breakout might be expected during the following trading session.
Comment:
The Australian Dollar made no significant changes to its overall price range against the US Dollar on Monday, as the currency pair continued to move sideways for the third consecutive trading session.
In the meantime, the Aussie has reached the upper boundary of a descending channel where the 100– hour simple moving average is located and could be set for a breakout.
If and when the aforementioned breakout occurs, it might encounter a resistance formed by the monthly pivot point at the 0.7645 mark.
In the meantime, the Aussie has reached the upper boundary of a descending channel where the 100– hour simple moving average is located and could be set for a breakout.
If and when the aforementioned breakout occurs, it might encounter a resistance formed by the monthly pivot point at the 0.7645 mark.
Comment:
Bears picked up momentum after the AUD/USD currency pair hit strong resistance formed by the 100– hour simple moving average near the 0.7624 mark during the early hours of Tuesday’s trading session.
By the European session on Wednesday, the exchange rate was trading below the 55-, 100-, 200-hour SMAs and the weekly pivot point.
Technical indicators flash two strong signals. First, on the four-hour time frame, it suggests bears are likely to grow stronger within this hours. Second, on the daily time-frame, its flash strong buy signal. Traders are advised to stay outside from this currency pair today.
By the European session on Wednesday, the exchange rate was trading below the 55-, 100-, 200-hour SMAs and the weekly pivot point.
Technical indicators flash two strong signals. First, on the four-hour time frame, it suggests bears are likely to grow stronger within this hours. Second, on the daily time-frame, its flash strong buy signal. Traders are advised to stay outside from this currency pair today.
Comment:
Bears were the main driving force of the AUD/USD currency pair for the second consecutive trading session on Wednesday as a result of which the rate end the day with 75-pips decline.
The decline continues during the first part of Thursday’s session. However, the weekly support level at 0.7549 was providing support for the exchange rate from falling further south.
If the weekly support level holds, the currency exchange rate is likely to make a corrective move north toward the 100– hour simple moving average during the following trading session.
The decline continues during the first part of Thursday’s session. However, the weekly support level at 0.7549 was providing support for the exchange rate from falling further south.
If the weekly support level holds, the currency exchange rate is likely to make a corrective move north toward the 100– hour simple moving average during the following trading session.
Comment:
Strong bearish momentum continued to dominate the Australian Dollar against the US Dollar. The reason if this decline is the general strength of the Greenback against other major currencies.
Technical indicators are starting to show more bearish signals on both the 1H and 4H time-frames, demonstrating that the depreciation for the currency pair might still continue within this session.
The base scenario for today session favours a breakout through the lower boundary of a descending pattern during the following trading session.
Technical indicators are starting to show more bearish signals on both the 1H and 4H time-frames, demonstrating that the depreciation for the currency pair might still continue within this session.
The base scenario for today session favours a breakout through the lower boundary of a descending pattern during the following trading session.
During the first half of Tuesday’s session, the currency pair was trading in a relatively calm manner. Also, after testing the aforementioned PP, the pair made a U-turn south. This decline could find a support level either at the 55– hour simple moving average or the 200– hour SMA.
Technical indicators demonstrate a strong buy signal, therefore, the AUD/USD currency exchange rate might reverse north if the previously mentioned support holds.