Advertisement
Advertisement
Advertisement
FortFS
BREAKING NEWS : $500 - $5000 No Deposit Bonus Hurry up, Join Now!
Written by experienced traders and professional market analysts, our Forex technical analysis is just what you need to get an edge in your Forex trading
Advertisement usgfx

AUD/USD technical analysis: Choppy price action of late - price may now be breaking lower

Written by By Rajan Dhall, MSTA | 2019-11-08 10:19:28 GMT
  • Price action in AUD/USD has been very choppy of late.
  • Now it looks like the price might break the support level.

 

AUD/USD has been stronger lately due to the improved trade outlook helping China.

If China becomes stronger then AUD normally does due to the fact that the Chinese purchase commodities from the Australians.

Therefore the copper and iron ore price becomes important to AUD and both have been rallying recently.

Daily Chart

The support level to watch out for is 0.6861. The price got there recently but then swiftly pulled back up.

On the topside, you can seel there has been tests higher over the last seven sessions but they have all failed to break 0.6929 despite the positive trade war sentiment.

AUD/USD analysis

1-hour Close Up

On the hourly chart you can see a close up of all the tests higher. More recently you can see some lower highs have been created. 

Now the support level on the downside becomes even more important as if it breaks a lower high lower low formation will be completed.

If there is to be some positive trade headlines that push commodities higher this afternoon the move may reverse.

For now look to see how price reacts at the lower support zones.

AUDUSD analysis

 

Author

By Rajan Dhall, MSTA
fbs

Trade With A Regulated Broker

Broker Profile Open Account
EXNESS
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:2000
  • Broker Type : STP
  • Regulation : CySEC, 178/12 IFSA (St. Vincent and Grenadines), 21927 (IBC 2014)
  • EXNESS
    XM
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:30
  • Leverage applies to all EU regulated entities of the group. Leverage depends on the financial instrument traded.
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    InstaForex
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:1000
  • Broker Type : STP
  • Regulation : RAFMM
  • instaforex
    Tickmill
  • Offer: 30USD No Deposit Bonus
  • Minimum Deposit: 25 USD
  • Leverage of up to 1:500
  • Broker Type : ECN/STP & STP
  • Regulation : FSA SD008
  • Tickmill
    OctaFx
  • Offer: 50% Deposit Bonus
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:500
  • Broker Type : ECN/STP & STP
  • Regulation : FCA (UK), 679306 IFSA (St. Vincent and Grenadines), 19776 IBC 2011
  • OctaFx
    HotForex
  • Offer: 100% Deposit Bonus
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:500
  • Broker Type : ECN/STP & STP
  • Regulation : CySEC, 183/12 FSC (Mauritius), 094286
  • HotForex

    The Best Crypto to Crypto

    Exchanger Advantages Open Account
    binance
  • Safety Stability: Multi-tier & multi-cluster system architecture
  • Binance charges a quite low commission fee
  • Multiple-Coin Support : BTC, ETH, LTC, BNB...
  • High Liquidity
  • Multiple-Language Support
  • binance
    changelly
  • Instant cryptocurrency exchange
  • More than 500,000 satisfied users
  • Changelly charges a quite low commission fee
  • Safety Stability
  • changelly
    bitmex
  • Bitmex - Bitcoin Mercantile Exchange is a cryptocurrency derivatives trading platform.
  • Bitmex charges a quite low commission fee
  • Safety Stability
  • changelly

    Best Brokers to Trade Crypto

    Broker Profile Open Account
    octafx
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:500
  • Broker Type : STP/ECN
  • Regulation : FCA (UK), 679306 IFSA (St. Vincent and Grenadines), 19776 IBC 2011
  • octafx
    XM
  • Offer: 30 USD No Deposit Bonus - 50% Deposit Bonus
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    FBS
  • Offer: 50USD No Deposit Bonus
  • Offer: 100% Deposit Bonus
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CRFIN (Russia), 009069697 IFSC (Belize), IFSC/60/230/TS/12
  • FBS

    Contact us
    fxvnpro@gmail.com