Aud went up without hitting target.. and now falling due to unable to hold resistance of 0.754 and 0.7573.. now this was technical..
And regarding fundamentals.. aud fallen hard after Speculation of Rate Cut in August..!!!!!! Stay turned as fomc can make it more bearish breaking support of 0.7425.. or another jump towards 0.76.
Before fomc stop will be BE. and if 0.7425 breaks then target is dowards 0.733 and down..
Comment
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Going below 0.74 would be very bearish and I am expecting breakout... bcuz aud cross pairs suggesting more downside...
on 1hr looks like its making rounded bottom ! is it ?
newbie2016
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On daily chart we close below 20 ema.. thats a bearish move and now we are struggling below 0.7535.. i think aud has alot to go down close to 0.74 before buyers to get in.. Its an impulsive move and aud is struggling.. on all 1hr, 4hr, and daily tf.
robus
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wow I follow 20ema too. I envy your clean chart. I want 0.73 . ready to hold atleast week :D
newbie2016
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my strategy is with 20 ema... and regarding 0.73 then we might have to wait for some days.. Area 0.74 - 0.7425 is buyers area and it will push prices higher again.. but i think higher price will be another opportunity to short again..
Oil fallen below today and usdcad is lurking close to 1.31.. so for short term.. there will be consolidation but i see aud to tumble down more..
robus
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I am so happy it will go up again. I will reload. I add in fib numbered lots 5+3+2+1 +1
khi khi khi :)
newbie2016
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for now i dont see aud going above 0.755... stiff resistance at 0.753 which will push it down towards 0.74 and from there we might can see some move up.. and yes for now aud is good for shorts.. on retracements.. this is an impulsive move and will continue down.. i am bullish ucad for coming weeks due to oil as well.. so i think aud will be suffer if i will be correct on ucad for 1.35 and high..