AUD/USD, AUD/JPY, AUD/CAD, GBP/AUD Technical Forecast
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AUD/USD Technical Evaluation
The Australian Greenback traded in a slim vary, failing to search out significant progress towards the US Dollar final week as US-China trade war fears waxed and waned. AUD/USD stays wedged between the 61.8% and 38.2% Fibonacci retracements at 0.6769 and 0.6830 respectively. A every day shut beneath the previous opens the door to prolonging the breakout by rising assist from October – pink strains under.
Constructive RSI divergence warns that draw back momentum is fading nonetheless. That would end in one other bounce on assist as costs climb in direction of 0.6830. A push by this value exposes 0.6868. On the flip aspect, a draw back breakout paves the best way for testing the 78.6% degree at 0.6726 on its means in direction of present 2019 lows.
AUD/USD Every day Chart
A lot of the identical could possibly be stated when evaluating the Aussie to the Japanese Yen. AUD/JPY remains to be adhering to a Rising Wedge pointed out earlier this month. Costs are proper on the ground of the bearish chart sample the place a draw back breakout and every day shut beneath 73.35 opens the door to reversing the uptrend from late August. Constructive RSI divergence is current right here as nicely although. That will precede a bounce in direction of 74.48.
AUD/JPY Every day Chart
AUD/CAD can also be dealing with sideways value motion, however it’s being guided cautiously greater by a near-term rising assist line from the start of October. That will ultimately push the pair in direction of September and October highs, a psychological barrier between 0.9105 to 0.9144. In any other case, a every day shut beneath 0.8967 opens the door to revisiting October lows because the Canadian Greenback appreciates.
AUD/CAD Every day Chart
Issues are wanting extra attention-grabbing in GBP/AUD after the British Pound was as soon as once more unable to clear the important thing psychological barrier between 1.9012 and 1.9093. This has left behind acute detrimental RSI divergence, displaying fading upside momentum. That would result in a high as costs fall in direction of the November low at 1.8547. Regulate what could possibly be a possible rising assist line from October – red-dashed line under. In any other case, closing above resistance exposes the 50% Fibonacci extension at 1.9313.
GBP/AUD Every day Chart
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— Written by Daniel Dubrovsky, Foreign money Analyst for DailyFX.com
To contact Daniel, use the feedback part under or @ddubrovskyFX on Twitter