ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for tools Level up your trading with our powerful tools and real-time insights all in one place.

AUDUSD Recovers Past Level At 0.6350 Alongside Global Stocks

Share On Facebook
share on Linkedin
Print

AUDUSD Price Analysis – April 9

The Australian dollar also shifted along with global stocks, as coronavirus outbreaks, particularly in the US, are already reaching a peak. On Thursday, the AUDUSD pair pushed higher and renewed session highs in the last hour, while displaying considerable strength beyond the 0.6350 level.

Key Levels
Resistance Levels: 0.7031, 0.6684, 0.6434
Support Levels: 0.6213, 0.5959, 0.5506

AUDUSD Long term Trend: Ranging

In the broader context, the decline in AUDUSD from 0.7031 (high) level is still ongoing. This is part of the greater downtrend from 1.1079 (high) level. The forecast of 61.8 percent from 0.7205 at 0.5506 level of 1.1079 to 0.6878 is now completed.

There the continuous break lays the groundwork to level 0.4773 (low). On the upside, it requires a break of 0.6684 support turned resistance level to suggest medium to long term bottom. Without it, also in the event of a speedy recovery, the pattern can stay bearish.

AUDUSD Short term Trend: Ranging

Intraday bias in AUDUSD stays upside down as the recovery from the level of 0.5506 indicates progress. Another increase of 0.5506 to 0.6213 from 0.5959 at 0.6434 levels can be seen to be 61.8 percent.

On the downside, the 0.5959 level break would now signify the conclusion of the increase from the level at 0.5506. Intraday bias may be switched back to the downside for a 0.5506 level retest.

Source: https://learn2.trade

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com