AUD/USD analysis for June 25, 2013
June 25, 2013 11:00 amVideo
Latest News
- GBP/USD. April 22nd. The bulls continue to retreat April 22, 2024
- Can Australian CPI data lift the struggling aussie? – Preview April 22, 2024
- Meta reports Q1 earnings after new AI model – Stock markets April 22, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and US dollar index on April 22, 2024
- Technical Analysis – GBPUSD tumbles to 5-month low April 22, 2024
- Weekly forecast based on simplified wave analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 22nd April 22, 2024
- Video market update for April 22, 2024 April 22, 2024
- Weekly Technical Outlook: 22/04/2024 – Dollar index, USDJPY, EURUSD April 22, 2024
- Market Comment – Risk appetite returns as geopolitical fears calm April 22, 2024
- Weekly Technical Outlook – Dollar index, USDJPY, EURUSD April 22, 2024
- Forex forecast 04/22/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga April 22, 2024
- USD/JPY: trading tips for beginners for European session on April 22 April 22, 2024
- Technical Analysis – EURUSD consolidates after decline pauses April 22, 2024
- GBP/USD: trading tips for beginners for European session on April 22 April 22, 2024
- EUR/USD: trading tips for beginners for European session on April 22 April 22, 2024
- Hot forecast for EUR//USD on April 22, 2024 April 22, 2024
- Technical Analysis – EURJPY rallies ahead of key market events April 22, 2024
- Trading plan for GBP/USD on April 22. Simple tips for beginners April 22, 2024
- Trading plan for EUR/USD on April 22. Simple tips for beginners April 22, 2024
- Forecast for EUR/USD on April 22, 2024 April 22, 2024
AUD/USD Elliott Wave
Since our last analyses the AUD/USD pair has been trading upwards, corrective wave 4 (coloured blue) of the bigger wave [3] (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 0.9250 towards the 0.9147 level and we can consider this move as the end of the sub-wave 5 of the impulsive wave 3 (coloured blue). Therefore, during the early New York session this major currency did not manage to hold this levels and the price has retraced back to 0.9298 level. At the moment the AUD/USD pair is trading around 0.9255 area and we expect to see the price lower in the next few sessions. In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9023 (61.8% of wave 3). To reduce the risk, we can use resistance point at 0.9433 level as stop loss.
Support and Resistance
(S3) 0.9016 (S2) 0.9081 (S1) 0.9167 (PP) 0.9232 (R1) 0.9318 (R2) 0.9383 (R3) 0.9469
Trading forecast
Proceeding from Elliott Wave today, the trend is expected to begin the downwards movement. That is why short positions at level 0.9195 with stop loss at 0.9433 and take profit at 0.9023 are recommended.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: