empty
 
 
31.01.2023 02:46 PM
AUD/USD outlook for January 31, 2023

This image is no longer relevant

The unexpectedly weak Australian retail sales report put pressure on the Aussie, with AUD/USD slipping further into the Asian trading session and at the beginning of the European session.

Thus, as of writing, the AUD/USD pair has "dipped" by 0.65% (about 47 points) since the opening of today's trading day, falling to 0.7012.

This image is no longer relevant

In case of further decline and breakdown of the 0.7000 "round" support level, the nearest target will be the support levels 0.6950 (144 EMA on the 4-hour chart), 0.6900 (200 EMA on the 4-hour chart and 50 EMA on the weekly chart). The breakdown of the key support levels 0.6880 (the lower line of the upward channel and 200 EMA on the daily chart), 0.6810 (144 EMA on the daily chart), and a return inside the downward channel on the weekly chart with the lower border passing through the 0.5665 mark significantly increase the risks of AUD/USD returning to the global downward trend.

This image is no longer relevant

In an alternative scenario, and after the breakdown of the important short-term resistance level 0.7045 (200 EMA on the 1-hour chart), long positions on AUD/USD can be resumed.

The breakdown of the local and 5-month high, and the 200 EMA on the weekly chart at 0.7145, will confirm the return of AUD/USD to the long-term bull market zone.

Support levels: 0.7000, 0.6950, 0.6900, 0.6850, 0.6810, 0.6720, 0.6700, 0.6665, 0.6635

Resistance levels: 0.7037, 0.7045, 0.7080, 0.71 45

Trading scenarios

Sell Stop 0.6980. Stop-Loss 0.7050. Take-Profit 0.6950, 0.6900, 0.6850, 0.6810, 0.6720, 0.6700, 0.6665, 0.6635

Buy Stop 0.7050. Stop-Loss 0.6980. Take-Profit 0.7080, 0.7150

Jurij Tolin,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback