- Analytics
- News and Tools
- Market News
- AUD/USD Price Analysis: Bulls stay the course, eyes on 0.6800
AUD/USD Price Analysis: Bulls stay the course, eyes on 0.6800
- AUD/USD bulls have taken back control rom a peak bottom formation.
- Focus is on a move into the 0.68s for the days ahead.
As per the prior day's analysis, while the overall thesis is for a move to 0.6500, there has been a meanwhile prospect for 0.6800.
In the latest price action, we have seen a sweep of liquidity to 0.6630 which has seen 0.6700 taken out
AUD/USD prior analysis
On the daily time frame it was shown that there is a price imbalance (PI) between 0.6736 and 0.6810 with the 61.8% ratio eyed as a confluence:
On the lower time frames, it was stated that the bulls will want to see a break of the trendline and prior lower high to confirm a bullish bias:
It was shown that there was a break in the trendline on the hourly chart but the market was coiling sideways.
There were equal lows at 0.6695 that were being pressured with liquidity in market orders expected below and under 0.6675 lows.
It was stated that a ''sweep' of the liquidity could result in a surge of demand from the bulls and ultimately provide enough fuel to take out the 0.6720 and then the 0.6736 resistance and create a change of character (CoCh) in the structure to bullish.
However, for the immediate future, 0.6700 is key support:
AUD/USD update
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
