fib_fx
Short

AUDUSD VALUE AREA AWAITING

FX:AUDUSD   Australian Dollar/U.S. Dollar
119 0 1
Hello Traders!
Here on the Aussie we have been witnessing a lot uncertainty, from a fundamental perspective; This pair is greatly affected by the again markets in emerging and advanced markets, with a recent slowdown in China threatening Aussie's export quota, this could have been the catalyst for further weakening, however in a recent statement released by the RBA, growth seems to be steady and firming, however this was not enough for the central bank to raise interest rates, intact they decided to maintain the rate as it was seen to be very accommodative for further growth, especially with a lagging inflation figure. This will be monitored and further cuts have not been ruled out to stimulate this figure to target levels.
And using a Technical View; this pair is trading between 2 levels of diagonal support and resistance forming a symmetrical triangle. this could break to the upside or could hit it's head at resistance and continue its long term down trend, taking out the next Lower High would have my short bias start to shift on this pair and a new Higher Low would be a great value area for a long trade. HOWEVER, lining the Fundamental data, along side the technical data of the DXY             chart, i do not think there is a strong likelihood of such an occurrence, so i will be awaiting a value area for a short signal to test the waters of this trade back to the downside, hopefully breaking the ascending trend-line back to the downside.
As a personal preference for the longs on this trade, i would be looking only if we get a break and close above the 0.76000 Handle.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out