AUDUSD: 4h - Daily view
Aussie has been very volatile last week despite bank holidays in CNY. It moved from the high of 0.1750 to lows at 0.6970. It closed the week at 0.7100.
This market sends mixed signals. C.O.T data shows that AUD might be turning long in midterm, but the economic data does not confirm it. We might see some more clarity this week with unemployment report. I favour long positions after larger pull back towards 0.6950 (38% fib retracement).
If AUDUSD fails to print lower low on daily charts, it would suggest, the downtrend is complete.
AUDUSD: 15-30 min view
Looking at intraday charts, AUDUSD does not provide any clear pattern to form a trading decision. Price had been moving up and down with no clear direction. I would suggest to wait for more price action here. I still keep my long bias. Break above 0.7220 would confirm more strength, otherwise is mixed.
Bulls @ 0.7220
Bears @ 0.7090
Aussie has been very volatile last week despite bank holidays in CNY. It moved from the high of 0.1750 to lows at 0.6970. It closed the week at 0.7100.
This market sends mixed signals. C.O.T data shows that AUD might be turning long in midterm, but the economic data does not confirm it. We might see some more clarity this week with unemployment report. I favour long positions after larger pull back towards 0.6950 (38% fib retracement).
If AUDUSD fails to print lower low on daily charts, it would suggest, the downtrend is complete.
AUDUSD: 15-30 min view
Looking at intraday charts, AUDUSD does not provide any clear pattern to form a trading decision. Price had been moving up and down with no clear direction. I would suggest to wait for more price action here. I still keep my long bias. Break above 0.7220 would confirm more strength, otherwise is mixed.
Bulls @ 0.7220
Bears @ 0.7090
