Let’s cover all you need to know to start trading the AUD USD currency pair right now.
Because every second matters, get the currency live charts and forex day trading tips so that you can monitor your trade openings, closing goals and open up yourself for several forex trading currencies to maximize your profits. Forex analysis is used by retail forex day traders to determine buy or sell decisions on currency pairs. It can be technical in nature, using resources such as charting tools. It can also be fundamental in nature, using economic indicators or news-based events. For the signals of today, we are using indicators like RSI and CMO.
AUD USD Forex trading tips and charts
Monthly shows this pair with three targets. The first target is at 0.68905 – 175 pips below the current position; the second target is at 0.66121 – 453 pips below the current position; the third target is at 0.63370 – 738 pips below the current position. The rsi and cmo is in the buy zone indicating further movement up before this pair starts to move up to the sell zone.
Weekly shows all targets have been hit, therefore there is no trade recommended for this pair on this time frame.
Daily shows this pair has two targets at present. The first target is at 0.71682 – 38 pips above the current position; the third target is at 0.72149 – 80 pips above the current position. The rsi and cmo are below the sell zone indicating a little further movement up before this pair reaches the sell zone.
AUD USD in the news
I do believe that there is a significant amount of support underneath that extends down to the 0.70 level, so it is worth paying attention to. I believe at this point in time, the buyers would be very interested on dips, as the 50 day EMA comes into play and of course it is an area that has been crucial in the past.
Christopher Lewis
Since 2014, AUD/USD has spent much of the time between 0.7953 (the 50% retracement of the long-term move) and 0.68259 (the 23.6% retracement of the secondary move). These levels have provided strong support and resistance through much of this period until prices tumbled to March 2020 lows; after which price action soon returned back into this zone.
DailyFX
AUD USD now using 6885/95 as strong support to top exactly at the next target of 6950/60 according to FX Street.
Aussie dollar traders started to buy hand over fist on Monday as the Chinese government stoke the fires of the bullish run in Chinese equities.
FX Empire writes that Australian Dollar Rallies to Kickoff Week
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