Tech view going into Aussie RBA...

FX:AUDUSD   Australischer Dollar/U.S. Dollar
287 0
Since the commodity-linked currency peaked at 0.8135 on Jan 26, the Aussie has suffered consecutive daily losses.

In early trading on Thursday, the pair took a hit following less-than-stellar Chinese trade balance data. After driving through the 0.78 handle, the day ended with price bottoming around the top edge of a H4 demand base drawn from 0.7762-0.7779, which, as you can see, is holding firm at this time.

Weekly flow marginally surpassed the 2018 yearly opening level at 0.7801, but remains far too early to tell whether bids have dried up here yet. On the daily timeframe , demand at 0.7807-0.7841 was taken out during yesterday’s downside move (now acting resistance area ), consequently exposing a daily support level penciled in at 0.7732.

Potential trading zones:

Despite the response seen from the current H4 demand, this is not a buyers’ market. Yes, the 2018 yearly opening level may still contain active buyers, but with the 0.78 handle, a H4 resistance at 0.7812 and the daily resistance area mentioned above at 0.7807-0.7841 potentially hindering upside, we’d avoid entering into any buy transactions for now.

How about a short beyond the current H4 demand? This could be a viable approach as long as you remain cognizant of the nearby daily support level plotted at 0.7732. Between these two levels one has 30 or so pips to play with. So not really a lot to work with here!

Data points to consider: RBA monetary policy statement at 12.30am; Chinese inflation figures at 1.30am GMT .

Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden