Will AUDUSD Drop Further or Reverse Key Insights Here!
Will AUDUSD Drop Further or Reverse Key Insights Here!
Will AUDUSD Drop Further or Reverse Key Insights Here!
Will AUD/USD Drop Further or Reverse? Key Insights Here!
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Trend Analysis
- The chart shows a downtrend followed by a sideways consolidation.
- Moving averages indicate resistance at higher levels, suggesting a struggle for bulls to take control.
Chart Pattern
- Potential double bottom formation if price sustains above support.
- If price fails, it could lead to further downside pressure.
Upcoming Events Affecting AUD/USD
- Reserve Bank of Australia (RBA) interest rate decision: Any change in rates or policy stance will impact AUD/USD.
- U.S. Federal Reserve policy: A hawkish or dovish stance by the Fed will influence the USD.
- Australian employment data: Strong or weak job numbers will affect AUD strength.
- China’s economic data: Since Australia is heavily reliant on China, trade data, GDP, and industrial output will impact the AUD.
- U.S. inflation and GDP reports: If U.S. inflation remains high, it may strengthen the USD and pressure AUD/USD.
Observations
- RSI near oversold zone, indicating potential reversal or consolidation.
- Momentum indicator shows weak bullish strength, meaning a breakout needs confirmation.
- Volume spike at support, suggesting buyer interest.
Final Takeaway
- Wait for confirmation of breakout or breakdown before taking trades.
- Risk management is key, as false breakouts are possible.
Here are the precise entry, stop loss, and target levels for both breakout and breakdown strategies based on the chart analysis:
breakout strategy (bullish)
- entry: above 0.6350 | stop loss: below 0.6280
- target 1: 0.6420 | target 2: 0.6500
breakdown strategy (bearish)
- entry: below 0.6240 | stop loss: above 0.6300
- target 1: 0.6180 | target 2: 0.6100.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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