AUDUSD Bounce Coming Up

Those who waiting for a bounce in AUDUSD, wait might finally be over. 

A big support area is coming up at 0.9575/85 - just 50 pips away from current price. On last Thursday, price bounced from .09590/95 area.

I went long at current price 0.9630 and will buy on dips towards 0.9575.

AUDUSD Daily

AUDUSD Bounce a Short Opportunity

AUDUSD Daily

The recent decline in AUD is mainly caused by the fundamentals. And many analysts are predicting AUD to fall to 0.9/85 before any stability. And after falling to that level, it will consolidate till some fundamental improves. 

Mixing the above view along with technicals, there comes a short opportunity. After the big daily triangle break, price is bouncing a bit. Bounce towards the lower trendline present a short trade opportunity. 

I plan to enter short on touch of the tendline with a stop on break and daily close above lower trendline.

AUDUSD Support-Resistance Levels For Next Week

AUDUSD H4

The price is still confined in 1.06-1.01 range. And in between them there are couple of support-resistance levels to watch for. 

Currently price is pulling back from support-turned-resistance area around 1.0335. Above this lies another resistance at 1.0370/75. 

I will be watching these level next week closely for any potential trade setup.

AUDUSD Double Top

AUDUSD Hourly

Pair has made a double top and letter M on hourly charts. 

Currently price is near to neckline of letter M formation and might see a bounce to upper resistance. 1.04 area will be a good resistance now. That would be a nice place to enter shorts.

I will be wait for any spikes towards 1.04 resistance area to enter shorts.

AUDUSD Support Level

AUDUSD H4

AUDUSD at major support level and looks like pair is bouncing from it. 

A clear break and close below will send the pair lower. 

AUDUSD Daily Range

AUDUSD Daily

Looks like AUDUSD is range bound between 1.06 and 1.0150. Price is oscillating between these levels since August-2012. 

After the recent RBA statement, price are moving up, but I expect that to be limited. I am planning to short the pair near to trendline, which has restrained price previously also. This area comes around 1.05.

AUDUSD Hit Dual Resistance

AUDUSD H4

AUD is coming down as fast as it went up after hitting channel + 200EMA resistance.


Channel's upper trendline and 200EMA comes almost at same level and price momentum was unable to break it up.

AUDUSD Triangle Trade

AUDUSD H4

Price is making out a triangle on H4 charts. 

Upper trendline starts at the highs of 12-Dec while lower trendline starts at 23-Oct. 

This can be a possible trade for next week. I expect this triangle to break on lower side.

AUDUSD Channel Long Trade Setup

AUDUSD H4

A long trade is coming up on touch of channel's lower trendline. 

This channel is in place since Oct-12 and is holding up price action very well. I am watching this setup from past few sessions. Previous post [here].

AUDUSD Channel Long Trade

AUDUSD H4

A long trade setup is coming up in AUDUSD H4 charts. 

The channel is in place since Oct-12.I was watching this setup from past sessions and planned to go short. But pair backed off before touching upper trendline. Previous post [here].

Option Expiry for 13-Dec

Today's option Expiry for 15GMT (from Bloomberg)

• EUR/USD: 1.2950, 1.3125, 1.3150, 1.3175
• GBP/USD: 1.6075, 1.6100, 1.6200
• USD/JPY: 82.40, 82.50, 82.75, 82.80
• AUD/USD: 1.0465, 1.0500, 1.0520, 1.0550

AUDUSD Daily Channel Trade Plan

AUDUSD Daily

On Daily charts price is moving up in ascending channel. This channel is in place since Oct.

A daily resistance level is coming up at 1.0620/30. This area is highs of  14-Sep and 9-Aug. Currently price is near to this area and any spike towards it should be considered as short trade opportunities. 

AUDUSD Channel Short

AUDUSD H1

One more channel trade in AUD pair. AUDJPY channel trade [here].

Price is moving in a ascending channel and looking its holding it very well. 200EMA is good support on dips. 

AUDUSD Channel Short Trade Setup

AUDUSD H1

Price is coming to the upper trendline of descending channel on hourly charts. This channel is in place since first week of Nov and since then price is constrained within the this channel.

I am expecting a move towards the upper trendline of the channel. That will be the right place to short the pair for a possible move towards horizontal resistance area or towards mid of the channel. 

AUDUSD Channel Short Trade

AUDUSD H1

I posted the possible setup on Friday. Details [here]. And now the setup is materializing.

Price has bounced to the channel's upper trendline early Asia trading due to news event early morning.  

AUDUSD Channel

AUDUSD H1

This is the channel trade am watching for next week. Currently price is at resistance. 

100EMA is serving as a indicator of a direction. Many times it has bounced/pullback from 100EMA. Currently price is at horizontal resistance and 100EMA is just above it.

RBA Cash Rate at 3.25% Unchanged

RBA sparking a rally in AUD. 

Some takeaways:

• Expects Inflation consistent with target in next 1-2 years. .
• Housing market strengthened, share prices have risen.
• Rates for borrowers clearly below medium term average.
• Easier conditions starting to have expected effects.
• Terms of trade down 13% from peak last year.

AUDUSD Channel

AUDUSD H1

After triangle break to upside, looks pair staled at previous highs. 

On hourly chart, price is forming out a rising channel. Upper trendline of channel is providing good resistance so far.

AUDUSD Short Trade Coming

AUDUSD H1

I am watching this triangle setup from past few sessions. Previous post [here].

Width of triangle is shortening candle-by-candle and looks like triangle is about to break downside.

AUDUSD Triangle Trade

AUDUSD H1

I am watching this setup from past few sessions. Details [here]. 

So far the price action is not able to break triangle on either side. Price is bouncing from upper trendline. Looks like the upper horizontal resistance area and trendline are providing good resistance on any spikes. 

Since the width of channel is small, I will not trade pullback from triangle's trendline. I will trade breakouts only.