AUD/USD: the aussie gains back its strength

AUD/USD: the aussie gains back its strength

2019-11-11 • Updated

Recommendation:

BUY 0.724 SL 0.7185 TP1 0.731 TP2 0.7345 TP3 0.7370

On the daily chart of AUD/USD, bears managed to move the pair out of the upward channel. They plan to continue moving towards the 88.6% target of the "Shark" pattern. Bulls need to break the resistance at 0.7270 to take control over the situation. 

audusd_d.png

On H1, the implementation of the junior "Shark" pattern's 88.6% target increases the risks of the reversal towards 23.6%, 38.2% and 50% of the CD wave. On the other hand, if the targets of the senior "Shark" pattern are reached, the pair will fall further.

audusd_60.png

Similar

USD: CPI Sets The Tone For Further Movements
USD: CPI Sets The Tone For Further Movements

The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) in the US increased to 3.2% year-over-year in February from 3.1% in January. The Core CPI, which excludes volatile food and energy prices, rose 3.8% year-over-year, slightly below January's 3.9% but above market expectations of 3.7%. Both the CPI and Core CPI also rose by 0.4% on a monthly basis.

AUD: Trade Ideas
AUD: Trade Ideas

Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...

USD: CPI Carries The Dollar to Pivots
USD: CPI Carries The Dollar to Pivots

The higher-than-expected inflation data for January has reignited concerns about rising prices and its implications for Federal Reserve policy. While investors had anticipated rate cuts in the near term, the hot inflation print may delay such actions. As the Fed navigates the delicate balance between containing inflation and...

Latest news

AUD: Markets Prepare for RBA Rates Statement.
AUD: Markets Prepare for RBA Rates Statement.

The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to 3%.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera