AUD Crosses at Key Levels – AUD Chart Pack

Intermediate

In this special publication, we go through a number of AUD/X charts & setups that have caught our attention. We find the AUD at critical areas, which could dictate the directional bias of the AUDTWI in the 2H 2019.

Across our momentum breadth studies for 19 AUD/X pairs:

  • RSI Breadth – 68% bullish.

However, divergence from another key breadth measure underpins the overall negativity.

  • MACD Breadth – 78% Bearish.
AUDJPY 1d Chart

AUDJPY: Risk Barometer AUDJPY retraces of lows after entering a key rejection area. Underlying fundamental themes keep AUDJPY negative. Rate now trading at a key resistance zone at c.76.06. Long-term bias persists to the downside.

Bulls need to work extremely hard to change the technical outlook for the pair. Key topside levels may offer bears some compounding opportunities. 50 EMA at 76.00 coupled with 50% fibo at 76.30 of the April-June weakening have been robust. Moreover, the RSI is failing to breach the 57 level.

Potential topside targets lie at:

  • 76.61 (Cloud base)
  • 77.34 (38.2% fib)
  • 78 (Cloud top)
  • 78.70 (Inverse H&S MPO)

If a position is loaded on the breakout then a risk zone < 75.26 (61.8% fib) would be prudent.

AUDJPY 1d Chart 2

If a short position is established, then aim for shorts below the aforementioned risk zone.

EURAUD: Recent AUD strength clawing back some gains after selloff causes the pair to drop from 2019 highs into the cloud at 1.6068. Bearish themes exacerbated through bearish activity in the MACD. 50% fibo of the April-June rally defending gains for now at 1.6069. Risk > 1.6070 would be prudent for any shorts. Rate has potential for cloud base at 1.5971 or even 76.4% fib at 1.5869.

EURAUD 1d Chart

AUDCAD: Pair trades at a crucial level as AUD continues to underperform CAD. Solid long-term support comes in at 0.9113. Weekly insinuates a cautious tone as RSI diverges and ADX/DMI’s overstretched to the downside. 

AUDCAD 1d Chart

Daily AUDCAD shines a little extra light on key levels. Psychological level 0.92 is stalling bulls from advancing. In addition, 21 EMA lies at this key price providing more problems for bulls. A violation of this level could deepen topside pressures.

A break below 0.9113 would see a potential risk zone > 0.92.

AUDCAD 1d Chart 2

AUDCHF: Recent AUD strength against safe haven CHF at crucial potential turning point. 38.2% fibo @ 0.6949 of Apr-June selloff defending the downside. 50DMA sitting neighbouring @ 0.6957.  A break above may highlight a more risk-on tone in the FX space. A break above 38.2% could potentially see 0.7011 revisited. However, a rejection could see the pair trade lower targeting the 23.6% fibo at 0.6872. This would put risk levels > 0.6949.

AUDCHF 1d Chart

Editor

Akif SH. Din MSTA, CFTe, 2018 Bronwen Wood Memorial Prize Winner, has a solid understanding of global markets, fundamental analysis as well as having a vast amount of knowledge in technical analysi...continued

Comments on this analysis

Your email address will not be published. Required fields are marked *


Latest Related News

These S&P Relative Developments Reinforce A Risk-Off Restoration

A great deal is going on in the macro department and this can make it difficult to understand where risk is flowing in broader market as well as the G-10 FX space. A constant back-and-forth between virus related risks and U.S.-China tensions is continuously squeezing equity rallies which has somewhat seeped into G-10 FX risk proxies, stalling rather buoyant rallies. We take a look at… Continued

Mixed signals from Forex pairs

US Dollar approaches major support (DXY)Big negative on Aussie (AUDUSD)Euro-Aussie reverses  (EURAUD) Continued

AUDJPY and USDTRY Elliott Wave Analysis

AUDJPY can be trading in a sharp three-wave reversal, with current wave c/iii trading higher from the 71.06 area, where former corrective wave b/ii found support. Wave c/iii is an impulse and can now target 73.0 area with a five-legged move. AUDJPY, 1h USDTRY is moving lower into a projected support near 5.65/5.55 region, after a completed triangle pattern within former wave B. A five… Continued

Elliott Wave Analysis: AUDJPY And NZDJPY Going Bullish Berserk!

Hello traders! AUDJPY is recovering, now unraveling sub-wave iii) as part of a higher degree impulse (iii). Wave three is the strongest and sharpest wave, so be aware of more upside, while price keeps trading above the 74.65 invalidation level. That said, now we see sub-wave iv unfolding, so a temporary setback may be in the cards first, before a new bullish continuation towards 75.91… Continued

A focus on Swiss Franc Crosses (CADCHF and AUDCHF)

In this article we are going to take a look at the intermediate-term outlooks for two “risk” currencies, the Australian and Canadian Dollars versus the safe haven currency, the Swiss Franc.Bear trends in CADCHF and AUDCHF are a result of the current, broad “risk off” environment across global financial markets, in the wake of developing trade wars.The threats for both CADCHF and AUDCHF into June… Continued

Forex Brokers in your location


SIGN UP

79% of retail investor accounts lose money


SIGN UP

79,3% of retail investor accounts lose money


SIGN UP

74,9% of retail investor accounts lose.


SIGN UP

75% of retail investor accounts lose money when trading CFDs with this provider.