AUD/USD Could Extend Downside Correction To 0.7050

Key Highlights The Aussie Dollar started a downside correction after trading as high as 0.7235 against the US Dollar. There was a break below a key contracting triangle with support at 0.7155 on the 4-hours chart of AUD/USD. The US Existing Home Sales declined 6.4% in Dec 2018 (MoM). The Euro Zone Consumer Confidence for Jan 2019 (Prelim) will be released today, w...
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AUD/USD Recovery Reaching Crucial Juncture

Key Highlights The Australian Dollar recovered nicely and moved above 0.7080 against the US Dollar. There was a break above a major bearish trend line at 0.7010 on the 4-hours chart of AUD/USD. Australia’s Building Permits in Nov 2018 declined 9.1% (MoM). The US Initial Jobless Claims for the week ending Jan 05, 2019 will be released today, which is forecasted t...
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AUD/USD Holding Key Support and 100 SMA

Key Highlights The Aussie Dollar declined sharply from 0.7337 and traded below 0.7260 against the US Dollar. There is a major bullish trend line in place with support at 0.7220 on the 4-hours chart of AUD/USD. The US Initial Jobless Claims figure for the week ending Nov 17, 2018 increased to 224K. Today, the Euro Zone Consumer Confidence for Nov 2018 (Prelim) will...
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AUD/USD Remains At Risk of More Declines

Key Highlights The Aussie Dollar started a downside move after it failed near 0.7150 against the US Dollar. There is a major bearish trend line in place with resistance at 0.7115 on the 4-hours chart of AUD/USD. The US Manufacturing PMI for Oct 2018 (Preliminary) increased from 55.6 to 55.9. Today, the Durable Goods Orders for Sep 2018 will be released, which is f...
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AUD/USD Could Trade Higher Above 0.7300

Key Highlights The Aussie Dollar started a decent upward move from the 0.7144 low against the US Dollar. There was a break above a major bearish trend line with resistance at 0.7198 on the 4-hours chart of AUD/USD. The US S&P/Case-Shiller Home Price Indices increased 5.9%, less than the forecast of 6.2%. Today, the Fed interest rate decision is scheduled and t...
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AUD/USD Is In Significant Downtrend Below 0.7250

Key Highlights The Aussie dollar declined recently and broke the 0.7180 support against the US Dollar. There is a major bearish trend line in place with resistance at 0.7135 on the 4-hour chart of AUD/USD. The NFIB Business Optimism Index in the US climbed from 107.8 to 108.8 in August 2018. Today, the US Producer Price Index for August 2018 will be released, whic...
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AUD/USD Facing Significant Resistance Near 0.7350

Key Highlights The Australian Dollar was recently rejected near the 0.7350-60 resistance against the US Dollar. There is a crucial bearish trend line formed with resistance at 0.7335 on the 4-hour chart of AUD/USD. The US GDP in Q2 2018 (Prelim) grew 4.2%, more than the forecast of 4.0%. Today, the US Personal Income for July 2018 will be released, which is foreca...
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AUD/USD Facing Uphill Task Ahead of Fed Decision

Key Highlights The Aussie Dollar declined heavily in June 2018 and traded towards 0.7300 against the US Dollar. There is a crucial bearish trend line in place with resistance at 0.7500 on the daily chart of AUD/USD. The US Personal Income in June 2018 increased 0.4% (MoM), in line with the market forecast. Today, the Fed Interest rate decision is scheduled, and th...
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Can AUD/USD Recover Further Above 0.7500?

Key Highlights The Aussie Dollar recovered after forming a decent support near 0.7300-0.7310 against the US Dollar. There was a break above a major bearish trend line with resistance at 0.7395 on the 4-hours chart of AUD/USD. Australia’s Home Loans figure in May 2018 increased 1.1%, compared with the forecast of -1.9%. Today in the US, the PPI figure for June 20...
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Can AUD/USD Recover Further Above 0.7570?

Key Highlights The Aussie recovered recently and moved above the 0.7500 resistance against the US Dollar. There is a major bearish trend line in place with resistance at 0.7570 on the 4-hours chart of AUD/USD. The US Gross Domestic Product in Q1 2018 increased 2.2% (Prelim), less than the forecast of +2.3%. Today in the US, the Initial Jobless Claims for the week ...
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