ICmarkets

AUD/USD Technical outlook and review.

FX:AUDUSD   Australian Dollar/U.S. Dollar
25 0 0
Daily TF.

The daily timeframe still remains capped between the low 0.93208 and daily supply above at 0.95425-0.94852 with a break of either side yet to be seen. Once a positive break does happen, we will likely have more information regarding possible future direction.

4hr TF.

The market opened at 0.93758 with the buyers seen taking full control pushing price back up to the round number 0.94000 which is where the sellers are currently showing an appearance.

Something that was not mentioned in in the last analysis which should have been, is that price has consumed some of the buyers around the minor low 0.93765 meaning that the path is likely clear down to the 4hr demand area below at 0.93208-0.93417, as there does not seem to be any obvious trouble spots (demand) to stop price in between the minor low (level above) and the aforementioned 4hr demand area, so effectively we should see much lower prices very soon.

Pending/P.A confirmation orders:

• No pending buy orders (Green line) are seen in the current market environment.
• P.A confirmation buy orders (Red line) are seen just above the decision point level (0.92566-0.92736) at 0.92775. The reason for placing a P.A confirmation buy order here rather than pending buy order is simply because we were trading just above a daily demand ‘buy zone’ at 0.92046-0.92354, meaning pro money could very well just ignore this level completely and trade deeper into the aforementioned daily demand area, so, confirmation is the order of the day!

• Pending sell orders (Green line) are seen just below supply (0.95425-0.95096) at 0.95052. A pending sell order is placed here due to this being an area where pro money was interested in before; see how close price came to the supply area? (Levels above), this indicates possible strong supply (selling pressure), so the next time price visits we can expect some sort of reaction.
• The pending sell order (Green line) set just below the decision point level (0.94408) at 0.94382 is now active. Our first take-profit target has been hit at 0.93678, so do keep an eye on our second target seen within 4hr demand below (0.93208-0.93417) at 0.93360.

• Areas to watch for buy orders: P.O: No pending buy orders seen in the current market environment. P.A.C: 0.92775 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

• Areas to watch for sell orders: P.O: 0.95052 (SL: 0.95467 TP: Depending on price approach) 0.94382 (Active-1st target hit) (SL: 0.94677 TP: 0.93678 0.93360 0.93000. P.A.C: No P.A confirmation sell orders seen in the current market environment.

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