Technical analysis of AUD/USD for June 30, 2020
June 30, 2020 11:21 amVideo
Latest News
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
Overview :
The trend of AUD/USD pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.6812 and 0.7065.
Also, the daily resistance and support are seen at the levels of 0.7065 and 0.6734 respectively. Therefore, it is recommended to be cautious while placing orders in this area. So, we need to wait until the sideways channel has completed.
Yesterday, the market moved from its bottom at 0.6812 and continued to rise towards the top of 0.6853. Today, in the one-hour chart, the current rise will remain within a framework of correction.
However, if the pair fails to pass through the level of 0.6919, the market will indicate a bearish opportunity below the strong resistance level of 0.6919 (the level of 0.6919 coincides with the double top too).
Since there is nothing new in this market, it is not bullish yet. Sell deals are recommended below the level of 0.6919 with the first target at 0.6734.
If the trend breaks the support level of 0.6734, the pair is likely to move downwards continuing the development of a bearish trend to the level 0.6656 in order to test the daily support 2 (horizontal black line).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: