ICmarkets
Short

Aussie likely heading lower...

FX:AUDUSD   Australian Dollar / U.S. Dollar
119 0 1
The AUD/USD             , as can be seen from the H4 chart, is currently trading from a H4 supply drawn from 0.7367-0.7336. Now to keep this analysis straightforward, let’s dive straight in! Over on the weekly chart, the commodity currency is seen retesting the underside or a recently broken weekly demand at 0.7438-0.7315 as supply. Sliding down to the daily chart , we can also see this market teasing daily supply at 0.7402-0.7335 (encapsulates a resistance drawn from 0.7380 and sits within the above said weekly supply).

Now, couple all of this together with the AUD/SGD H4 chart chalking up supply at 1.0089-1.0051 and the NZD/USD             H4 chart also positioned within H4 supply at 0.6856-0.6832 (both markets boast a high correlation with the Aussie), we’re sure you’ll agree, at least technically, the Aussie could possibly decline from here.

Our suggestions: Watch for shorting opportunities around the current H4 supply! First target, for us, would be the 0.73 handle, followed by the H4 mid-way support at 0.7250 (bolstered by H4 support at 0.7241 and daily demand at 0.7259-0.7226).
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out