AUD/USD is recovering from yesterday’s low of 0.6326 and is currently trading at 0.6495. The intraday support levels are at 0.6412 and 0.6304. The near-term resistance areas are at 0.6580 and 0.6640. The intraday price pattern suggests a bullish momentum after yesterday’s positive closing. The 4-hourly price pattern is equally indicating bullish momentum.
AUD/USD Technical Outlook
The Bollinger Bands, Stochastic and Relative Strength Index (RSI) have all turned neutral. The MACD is below the zero line, while the Average True Range indicates flat volatility. The pair is keeping below the 20, 50, and 100-period moving averages.
|
Stochastic |
Bollinger Bands |
ATR |
MACD |
RSI |
|
Neutral (32) |
Neutral (0.6470) |
0.0093 (Flat) |
Below Zero (-0.0103) |
32 (Neutral) |
The moving average support and resistance areas are dynamic resistance areas. They are called dynamic because they change with the price movement, while the static support and resistance areas are drawn using the trend lines, and they do not change with the market movement.
AUD/USD Support and Resistance Levels – Short-Term
|
S 1 |
S 2 |
S 3 |
R 1 |
R 2 |
R 3 |
|
0.6412 |
0.6304 |
0.6244 |
0.6580 |
0.6640 |
0.6748 |
Fxdatapanel uses a combination of technical and fundamental analysis to analyze the Forex market and to determine the entry and exit levels for all the currency pairs. The accuracy rate of FXDatapanel trade signals is well above %75.
Related Article: USD/CAD Daily Outlook and Trade Signal (Daily)
Pivot Points
|
1 hour |
4 hours |
Daily |
Weekly |
Monthly |
|
0.6468 |
0.6461 |
0.6472 |
0.6596 |
0.6938 |
AUD/USD Trading Ranges
AUD/USD Daily Trading Range: 0.6436 – 0.6524
AUDUSD Weekly Trading Range: 0.6363 – 0.6538
AUDUSD Monthly Trading Range: 0.6363 – 0.6916
AUD/USD Yearly Trading Range: 0.6363 – 0.7661
AUD/USD Trading Idea – 29-SEP-2022
Currently, the AUD/USD intraday and 4-hourly price patterns are bullish, which is in line with the Fxdatapanel algorithm. The AUDUSD pair is ideal for buying positions using the following levels.
Signal Direction: Buy
Signal Timeframe: Daily
Entry: 0.6462
Stop-loss: 0.6369
Take Profit: 0.6648
Related Article: GBP/USD Daily Outlook and Trade Signal (Daily)
AUD/USD Upcoming Levels to Monitor
Currently, the 0.6500 is acting as a major resistance area. An intraday closing above this level will further increase the price of the AUDUSD pair. Failing to breach this level will once again provide space to the bears and the chances of yet another decline will be higher.
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