empty
 
 
30.01.2023 08:34 PM
AUD/USD: 0.7066 crucial obstacle

This image is no longer relevant

AUD/USD New Downside Movement!

The AUD/USD pair turned to the downside and is trading at 0.7068 at the time of writing. You knew from my previous analysis that AUD/USD dropped below the uptrend line signaling that the upwards movement had ended and that we may have a new downward trend.

I've also said that dropping below 0.7084 former low activates a more profound drop. I've drawn a downtrend line that stands as a dynamic upside obstacle (resistance). So, as long as it stays below it, AUD/USD could resume its fall.

AUD/USD Trading Conclusion!

The 0.7066 former low stands as a downside obstacle. Dropping and stabilizing below it signals more declines and brings a selling opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2023
AUDUSD
Australian vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

USD/CAD: new downtrend, 1.3658 as downside obstacle

The USD/CAD pair is trading at 1.3673 at the time of writing and it stands above the 1.3658 former low which represents a downside obstacle

Ralph Shedler 14:30 2023-03-23 UTC+2

Analysis and trading tips for EUR/USD and GBP/USD on March 23 (US session)

Growth in euro is slowing as buying activity started to weaken after the pair updated the March high. In addition, yesterday's momentum could very quickly turn into a smooth decline

Jakub Novak 11:20 2023-03-23 UTC+2

Analysis and trading tips for GBP/USD on March 23

The pair tested 1.2249 at a time when the MACD line was just starting to move above zero, which was a good reason to buy. This led to a price

Jakub Novak 08:35 2023-03-23 UTC+2

Analysis and trading tips for EUR/USD on March 23

The pair tested 1.0795 at a time when the MACD line was just starting to move above zero, which was a good reason to buy. There was an upward movement

Jakub Novak 08:33 2023-03-23 UTC+2

Gold turns to upside as expected

The price of gold rallied in the last hours and now is trading at 1,950 far above today's low of 1,934. You knew from my previous analysis that XAU/USD maintains

Ralph Shedler 17:32 2023-03-22 UTC+2

Analysis and trading tips for EUR/USD and GBP/USD on March 22 (US session)

Euro and pound continued to rise after the UK reported another increase in its consumer price index. Economists had expected a slowdown in growth, but what happened was that prices

Jakub Novak 13:00 2023-03-22 UTC+2

Analysis and trading tips for GBP/USD on March 22

The pair tested 1.2246 at a time when the MACD line was just starting to move below zero, which was a good reason to sell. This led to a price

Jakub Novak 08:09 2023-03-22 UTC+2

Analysis and trading tips for EUR/USD on March 22

Analysis of transactions and tips for trading EUR/USD When the pair tested 1.0720, the MACD line was already far from zero, so the upside potential was limited. No other market

Jakub Novak 08:06 2023-03-22 UTC+2

EUR/USD retesting broken levels

The EUR/USD pair climbed as much as 1.0788 today where it has found resistance and now it has turned to the downside. Still, the retreat could be only temporary

Ralph Shedler 21:00 2023-03-21 UTC+2

Analysis and trading tips for EUR/USD and GBP/USD on March 21 (US session)

Euro rose this morning despite weaker-than-expected data from the ZEW Institute. This suggests that yesterday's statements of ECB President Christine Lagarde continue to have a positive effect on buyers

Jakub Novak 12:17 2023-03-21 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.