The AUDUSD pair seems to have found strong support near the current price level. Currently, Doji and Hammer patterns at the bottom may help bulls build a strong recovery momentum. The intraday support levels are at 0.6437 and 0.6358. The near-term resistance areas are at 0.6558 and 0.6600.
AUD/USD Technical Outlook
The Stochastic, Bollinger Bands, and RSI have turned from bearish to neutral. The Average True Range shows low volatility, and the MACD (Moving Average Convergence Divergence) is below the zero line. However, the current price is still below the 20, 50, and 100-period moving averages.
|
Stochastic |
Bollinger Bands |
ATR |
MACD |
RSI |
|
Neutral (63) |
Neutral (0.6503) |
0.0097 (Volatility Down) |
Below Zero (-0.0100) |
40 (Neutral) |
Analysis Tip: Always use multiple technical indicators to analyze a currency pair. It gives insight from various perspectives and raises the success rate in Forex Trading.
AUD/USD Support and Resistance levels – Short-Term
|
S 1 |
S 2 |
S 3 |
R 1 |
R 2 |
R 3 |
|
0.6437 |
0.6358 |
0.6316 |
0.6558 |
0.6600 |
0.6679 |
A support area that remains intact for a longer time is considered stronger than the one that hasn’t been tested yet. Likewise, a resistance area that remains intact for a longer time is considered stronger than the one that hasn’t been tested or tested only a few times.
Related Article: GBPUSD Forecast and Daily Trade Signal
Pivot Points
|
1 hour |
4 hours |
Daily |
Weekly |
Monthly |
|
0.6509 |
0.6505 |
0.6479 |
0.6433 |
0.6559 |
AUD/USD Trading Ranges
AUD/USD Daily Trading Range: 0.6451 – 0.6547
AUD /USD Weekly Trading Range: 0.6401 – 0.6547
AUDUSD Monthly Trading Range: 0.6401 – 0.6547
AUD/USD Yearly Trading Range: 0.6363 – 0.7661
Related Article: EURUSD Forecast and Daily Trade Signal
AUD/USD Trading Idea – 4-OCT-2022
The current price of AUDUSD seems to have found support near the current price. A Doji and a Hammer pattern further favor a bullish bias and other technical indicators. It is in line with the FXDatapanel Algo. Currently, the pair is ideal for buying entries using the following levels.
Signal Direction: Buy
Signal Timeframe: Daily
Entry: 0.6453
Stop-loss: 0.6356
Take Profit: 0.6550
AUD/USD Upcoming Levels to Monitor
The 0.6520 is a strong resistance area, and bulls need to close above this level to build a strong upwards momentum. On the downside, an intraday closing below 0.6430 will be ideal for the bears to resume the downtrend.
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