AUDUSD signals - page 9
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AudUsd has closed wave 3 (=2.618 times wave 1) at 0.9310. A trading range (wave 4) is expected now before a new fall.
Aussie hits its weekly key support level this week and now it's moving strongly upwards leaving a long tail behind on this week candle in the weekly candlestick chart. It's bullish in short term at this moment. Price may bounce off from here. Let's see.
Rebound attempts…at least on EurAud!
Long ongoing accumulation work on the Aussie, but there won’t be rebounds above the parity.
Wave of Wolfe completed on AudUSd, now target at 0.967.
Interesting analysis: Eur/Aud bear market? definitively finished, but...
Divergences on AudUsd….the week starts with a rebound, it’s going to be the right time for the Aussie. Tomorrow: RBA meeting.
Australia has decided to let the Aud depreciate in order not to cut interest rates.
RBA Holds Rate at Record-Low Saying Aussie May Slide Further - Bloomberg
Interesting analysis from ECB Research on the state of the Australian economy: Australia: A Fading Star? | BCA Research | FINANCIAL SENSE
AUDUSD Rebound?
I have talked about this currency pair since it hit the 0.9200 mark and I added to my long positions at 0.9050. I think we will see a move higher and a breakout from its current chart pattern. We may saw a capitulation sell-off on Friday ahead of Chinese GDP data as trader’s were preparing for the worst.
Chinese GDP came in at 7.5% and market the second consecutive quarterly slowdown. The Australian Dollar rallied on the news and I think we may see a push higher past the 0.9500 level. That’s just my take on it.