AUD/USD Correcting Gains But Remains Supported

Key Highlights The Aussie Dollar surged recently towards 0.6900 against the US Dollar.AUD/USD is correcting gains, but it is likely to find a strong support near 0.6800.Australia’s monthly trade balance was a deficit of $1,242M, down from $-1,628M.The US Manufacturing PMI could decline from 51.1 to 50.7 in Oct 2019 (Preliminary). AUD/USD Technical Analysis In the la...
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AUD/USD Recovery Above 0.6780 Won’t Be Easy

Key Highlights The Aussie Dollar started an upside correction from the 0.6670 low against the US Dollar. AUD/USD surpassed a major bearish trend line at 0.6735 on the 4-hours chart.The US Wholesale Inventories increased 0.2% in August 2019, less than the +0.4% forecast. The US CPI might increase 0.1% in Sep 2019 (MoM), similar to the last reading. AUD/USD Technical Analy...
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AUD/USD Tumbles To New Multi-Year Low

Key Highlights The Aussie Dollar traded to a new multi-year low against the US Dollar. AUD/USD is now facing resistance near 0.6730 and a bearish trend line on the 4-hours chart.The Reserve Bank of Australia reduced the interest rate from 1.0% to 0.75%.The US ISM Manufacturing Index declined from 49.1 to 47.8 in Sep 2019. AUD/USD Technical Analysis This month, there w...
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AUD/USD Trimming Gains, Can It Bounce Back?

Key Highlights The Aussie Dollar topped near 0.6895 and declined recently against the US Dollar. AUD/USD broke an ascending channel with support near 0.6870 on the 4-hours chart.Australia’s Employment changed 34.7K in August 2019, less than the last revised 36.4K.The Unemployment rate increased from 5.2% to 5.3% in August 2019. AUD/USD Technical Analysis Earlier thi...
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AUD/USD Could Recover Sharply If It Breaks 0.6820

Key Highlights Recently, the Aussie Dollar corrected higher from 0.6676 (multi-year low) against the US Dollar. AUD/USD traded above a key bearish trend line at 0.6780 on the 4-hours chart.EUR/USD and GBP/USD remain in a bearish zone below key resistances.The US Existing Home Sales is likely to increase 2.5% in July 2019 (MoM). AUD/USD Technical Analysis Earlier this ...
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AUD/USD Likely To Remain Supported On Dips

Key Highlights The Aussie Dollar started a downside correction from 0.7080 against the US Dollar. AUD/USD is likely to find strong bids near 0.6970 or 0.6950 in the near term.The Housing Price Index in May 2019 increased 0.1% (MoM), less than the +0.3% forecast.The US Manufacturing PMI in July 2019 (Preliminary) could rise from 50.6 to 51.0. AUDUSD Technical Analysis ...
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AUD/USD Recovery Approaching Key Resistance

Key Highlights The Aussie Dollar started a strong recovery from the 0.6830 support against the US Dollar. AUD/USD broke the 0.6900 resistance and a bearish trend line on the 4-hours chart.The US Durable Goods Orders declined 1.3% in May 2019, more than the -0.1% forecast.The US Gross Domestic Product in Q1 2019 could grow 3.1%. AUDUSD Technical Analysis After trading ...
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AUD/USD Nosedives After Employment Report

Key Highlights The Aussie Dollar declined sharply below the 0.6980 support level against the US Dollar. AUD/USD traded below a major bullish trend line with support at 0.6955 on the 4-hours chart.Australia’s unemployment rate remained at 5.2% in May 2019, whereas the market was looking for a drop to 5.1%.The US Initial Jobless Claims for the week ending June 08, 2019 coul...
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AUD/USD Positioned In Downtrend Below 0.7050

Key Highlights The Aussie Dollar declined recently below the 0.7070 and 0.7040 supports against the US Dollar.A key bearish trend line is formed with resistance near 0.7030 on the 4-hours chart of AUD/USD.China’s Trade Balance posted a surplus of $13.84B, well below the $35.00B forecast.The US PPI in April 2019 could rise 0.2% (MoM), less than the last +0.6%. AUDUSD Te...
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AUD/USD Recovery Facing Uphill Task

Key Highlights The Aussie Dollar found support near 0.7060 and rebounded above 0.7100 against the US Dollar. A crucial bearish trend line is formed with resistance near 0.7160 on the 4-hours chart of AUD/USD. The US Housing Starts in Feb 2019 (MoM) fell 8.7%, down from the last +11.7% (revised). The US Trade Balance in Jan 2019 could post a deficit of $-57.0B, dow...
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