ICmarkets

AUD/USD: Technical outlook and review.

FX:AUDUSD   Australian Dollar / U.S. Dollar
87 0 0
Weekly Timeframe: Buying interest is currently being seen off of a weekly Quasimodo support level at 0.85769. This comes after price had closed below a major weekly demand area at 0.86591-0.88247 last week. If follow-through buying is seen, prices could potentially test 0.88874, a weekly support flip level. Let’s see what we can find on the lower timeframes.

Daily Timeframe: The daily timeframe shows that price has tested the extremes of the daily decision-point supply area coming in at 0.87608-0.86798. A small break above of about three pips was seen. Is this enough to conclude that this area is consumed? We honestly do not think so; hopefully the 4hr timeframe will offer us a little more information.

4hr Timeframe: The 4hr timeframe shows that price has once again pushed above a 4hr supply zone seen at 0.87536-0.87319, could this be simply another fakeout, or is it consumption for higher prices? If price has indeed broke higher to consume sellers to continue north, price in our view should respect either 0.87 (tentative buy orders are seen just above at 0.87021), or 0.86820 (tentative buy orders are seen just above at 0.86865). A close below here would likely invalidate a bullish bias for the time being. Assuming that price respects either of the above levels, a reasonable first take-profit target is coming in around the 0.88 round-number area.

Buy/sell levels:

• Buy orders: 0.87021 (Predicative stop-loss orders seen at: 0.86659) 0.86865 (Predicative stop-loss orders seen at: 0.86659).

• Sell orders: N/A (Predicative stop-loss orders seen at: N/A).
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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