AUD/USD bulls are struggling to move any higher and build a strong recovery pattern. Currently, the pair is trading at 0.6466. The intraday support levels are at 0.6429 and 0.6368. The near-term resistance areas are at 0.6538 and 0.6647. The intraday price pattern continues to remain bearish and the pair is likely to drop further in the coming sessions.
- AUDUSD Technical Outlook
- AUDUSD Support and Resistance Areas
- AUDUSD Pivot Points
- AUD/USD Trading Ranges
- AUDUSD Trade Signal
- AUDUSD Upcoming Levels to Watch
AUD/USD Technical Outlook
The MACD (Moving Average Convergence Divergence) is below the zero line which indicates a bearish momentum. The Stochastic, Relative Strength Index (RSI) and Bollinger Bands (BB) are neutral whiles the ATR (Average True Range) indicator shows low volatility. The current price of the AUDUSD pair is below the 20, 50, and 100-period moving averages that further indicate multiple resistance areas.
FXDatapanel AUDUSD pair’s Trade signal Success rate is 83%. Sign up for a free demo account and get Grid Trade Signals and Straight Trade Signals for Forex, Indices, and Commodities.
Related Article: Spot Silver (XAGUSD) Forecast and Daily Trade Signal
AUD/USD Support and Resistance levels – Short-Term
AUDUSD Pivot Points
AUD/USD Trading Ranges
AUD/USD Daily Trading Range: 0.6473 – 0.6541
AUDUSD 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: USD/CHF Daily Forecast and Daily Trade Signal
AUD/USD Trading Idea – 6-OCT-2022
AUDUSD pair has failed to build any upwards momentum following September’s huge decline. The intraday price pattern remains bearish and multiple resistance areas are present near the current price. Currently, the AUDUSD pair is ideal for selling entries using the following levels.
Trade Signal Direction: Sell
Trade Signal Timeframe: Daily
Entry: 0.6611
Stop-loss: 0.6772
Take Profit: 0.6480
AUD/USD Upcoming Levels to Watch
The 0.6420 is a fairly strong support area and bears need to breach below this level to continue with their hold. On the upside, an intraday closing above 0.6500 will favor the bulls and the chances of a further rise will be higher.
Click here to download AUDUSD’s complete smart analysis from FXDatapanel.