LiteForex Official
Broker Representative
AUD/USD: pair in correction
Current trend
The pair is in correction after a significant fall of the begging of the year.
The pair was supported by today’s data on Trade Balance from China that came out better than expectations and slightly calmed worries on the market regarding the Chinese economy.
At the same time, the pair remains under pressure amid strengthening US Dollar, falling commodities’ prices and still continuing crisis on the Chinese stock market.
Tomorrow attention needs to be paid to data on the Australian labour market for December. The Unemployment Rate is expected to increase from 5.8% to 5.9%.
Support and resistance
A breakout of the level of 0.7070 (ЕМА200 on the hourly chart, ЕМА50 on the 4-hour chart) would send the pair towards 0.7100 (December lows), 0.7145 (ЕМА200, ЕМА144 on the 4-hour chart), 0.7200 (upper border of a descending channel on the 4-hour chart).
On the 4-hour chart, OsMA and Stochastic signal purchases, and start turning up on the daily chart as well.
Support levels: 0.6980, 0.6910.
Resistance levels: 0.7070, 0.7100, 0.7145, 0.7200, 0.7290.
Trading tips
Pending sell orders can be placed at the level of 0.6970 with targets at 0.6910, 0.6880, 0.6810 and stop-loss at 0.7010.
Pending buy orders can be placed at the level of 0.7080 with targets at 0.7110, 0.7145, 0.7200, 0.7300 and stop-loss at 0.7030.
Current trend
Yesterday the pair was in an upward correction after a significant fall of the previous week.
The pair is pressured by slowing Chinese economy, strengthening Dollar that found a significant support after the publication of strong macroeconomic statistics on the US labour market last Friday, and falling dairy prices.
Support and resistance
On the 4-hour chart, the pair is trading in the lower Bollinger band. Moving averages with 50, 100 and 144 periods remain above the price and directed down indicating a descending trend in the pair. MACD histogram is in the negative zone while its volumes remain unchanged. ADX suggest a fall in the pair, DI lines directed down.
Support levels: 0.6505 (lower MA of Bollinger Bands, last week lows).
Resistance levels: 0.6593, 0.6679, 0.6715, 0.6771, 0.6834, 0.6859, 0.6881.
Trading tips
Short positions can be opened from the level of 0.6540 with the target at 0.6510 and stop-loss at 0.6560. Validity – 1 day.
Pending buy orders can be placed at the level of 0.6510 with the target at 0.6560 and stop-loss at 0.6500. Validity – 1 day.
Current trend
The pair is in correction after a significant fall of the begging of the year.
The pair was supported by today’s data on Trade Balance from China that came out better than expectations and slightly calmed worries on the market regarding the Chinese economy.
At the same time, the pair remains under pressure amid strengthening US Dollar, falling commodities’ prices and still continuing crisis on the Chinese stock market.
Tomorrow attention needs to be paid to data on the Australian labour market for December. The Unemployment Rate is expected to increase from 5.8% to 5.9%.
Support and resistance
A breakout of the level of 0.7070 (ЕМА200 on the hourly chart, ЕМА50 on the 4-hour chart) would send the pair towards 0.7100 (December lows), 0.7145 (ЕМА200, ЕМА144 on the 4-hour chart), 0.7200 (upper border of a descending channel on the 4-hour chart).
On the 4-hour chart, OsMA and Stochastic signal purchases, and start turning up on the daily chart as well.
Support levels: 0.6980, 0.6910.
Resistance levels: 0.7070, 0.7100, 0.7145, 0.7200, 0.7290.
Trading tips
Pending sell orders can be placed at the level of 0.6970 with targets at 0.6910, 0.6880, 0.6810 and stop-loss at 0.7010.
Pending buy orders can be placed at the level of 0.7080 with targets at 0.7110, 0.7145, 0.7200, 0.7300 and stop-loss at 0.7030.
Current trend
Yesterday the pair was in an upward correction after a significant fall of the previous week.
The pair is pressured by slowing Chinese economy, strengthening Dollar that found a significant support after the publication of strong macroeconomic statistics on the US labour market last Friday, and falling dairy prices.
Support and resistance
On the 4-hour chart, the pair is trading in the lower Bollinger band. Moving averages with 50, 100 and 144 periods remain above the price and directed down indicating a descending trend in the pair. MACD histogram is in the negative zone while its volumes remain unchanged. ADX suggest a fall in the pair, DI lines directed down.
Support levels: 0.6505 (lower MA of Bollinger Bands, last week lows).
Resistance levels: 0.6593, 0.6679, 0.6715, 0.6771, 0.6834, 0.6859, 0.6881.
Trading tips
Short positions can be opened from the level of 0.6540 with the target at 0.6510 and stop-loss at 0.6560. Validity – 1 day.
Pending buy orders can be placed at the level of 0.6510 with the target at 0.6560 and stop-loss at 0.6500. Validity – 1 day.