H1 candles run stops above 0.69 today?
AUD/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension and June’s current rally has seen price test the mettle of monthly supply at 0.7029/0.6664. Technically, the area benefits from additional resistance by way of a long-term trendline formation (1.0582).
Regarding the market’s primary trend, a series of lower lows and lower highs have been present since mid-2011.
Daily timeframe:
Partially altered from previous analysis –
Buyers and sellers on the daily timeframe recently squared off under two trendline resistances (prior supports – 0.6744/0.6671), eventually shipping price through support from 0.6931. Monday returned with a bullish outside day formation, forcing a retest at the underside of 0.6931 on Tuesday.
Support at 0.6755 also remains in view.
It may also interest traders to note the 200-day simple moving average at 0.6664 is in the process of flattening/marginally turning higher, following months of drifting lower.
H4 timeframe:
Partially altered from previous analysis –
Following Monday’s recovery out of demand at 0.6773/0.6814, joined with a 38.2% Fib ret level at 0.6808, AUD/USD found trendline resistance (prior support – 0.6856) to be welcoming on Tuesday. This base, together with a 61.8% Fib ret level at 0.6947, sent the pair to lows at 0.6833, throwing light on the possibility of another test of demand at 0.6773/0.6814.
H1 timeframe:
Early US prompted a meaningful decline through 0.69 and the 100-period simple moving average into the 0.6850 base and local support at 0.6845.
The day concluded retesting 0.69 as resistance. Supply at 0.6932/0.6918 offers the next upside objective along with neighbouring resistance at 0.6950.
Structures of Interest:
Monthly supply at 0.7029/0.6664, along with monthly trendline resistance, and daily resistance at 0.6931, could have H1 candles run stops above 0.69 today and test H1 supply at 0.6932/0.6918 for moves back to at least 0.6850.
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
May’s extension and June’s current rally has seen price test the mettle of monthly supply at 0.7029/0.6664. Technically, the area benefits from additional resistance by way of a long-term trendline formation (1.0582).
Regarding the market’s primary trend, a series of lower lows and lower highs have been present since mid-2011.
Daily timeframe:
Partially altered from previous analysis –
Buyers and sellers on the daily timeframe recently squared off under two trendline resistances (prior supports – 0.6744/0.6671), eventually shipping price through support from 0.6931. Monday returned with a bullish outside day formation, forcing a retest at the underside of 0.6931 on Tuesday.
Support at 0.6755 also remains in view.
It may also interest traders to note the 200-day simple moving average at 0.6664 is in the process of flattening/marginally turning higher, following months of drifting lower.
H4 timeframe:
Partially altered from previous analysis –
Following Monday’s recovery out of demand at 0.6773/0.6814, joined with a 38.2% Fib ret level at 0.6808, AUD/USD found trendline resistance (prior support – 0.6856) to be welcoming on Tuesday. This base, together with a 61.8% Fib ret level at 0.6947, sent the pair to lows at 0.6833, throwing light on the possibility of another test of demand at 0.6773/0.6814.
H1 timeframe:
Early US prompted a meaningful decline through 0.69 and the 100-period simple moving average into the 0.6850 base and local support at 0.6845.
The day concluded retesting 0.69 as resistance. Supply at 0.6932/0.6918 offers the next upside objective along with neighbouring resistance at 0.6950.
Structures of Interest:
Monthly supply at 0.7029/0.6664, along with monthly trendline resistance, and daily resistance at 0.6931, could have H1 candles run stops above 0.69 today and test H1 supply at 0.6932/0.6918 for moves back to at least 0.6850.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.