Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Télécharger MT4
MT5 Terminal

AUDUSD Trend Pullback (Mar 15, 2016)

AUDUSD has been trending higher, thanks to the pickup in risk appetite. 

Price stalled upon hitting resistance near .7600 and is showing signs of a pullback, possibly to the rising trend line visible on the 4-hour chart. 

Using the Fib tool on the latest swing high and low shows that the 61.8% Fibonacci retracement level is closest to the trend line around the .7300 support zone. This is also near the 100 SMA, which usually holds as a dynamic inflection point. 

The 100 SMA is above the 200 SMA so the path of least resistance is to the upside and the uptrend could resume at some point. However, both RSI and stochastic are pointing down so there's room for a correction. Once these oscillators indicate oversold conditions, Aussie bulls could regain control. 

Earlier today, the RBA released the minutes of their latest monetary policy meeting, which contained no surprises from their actual statement. Policymakers expressed confidence in the Australian economy while pointing out persistent risks, acknowledging that the current policy is appropriate. 

The main event risk for today might be the US retail sales report, which is expected to show a 0.1% drop for the headline figure and a 0.2% dip for the core figure. Later in the week, the FOMC will announce its policy decision and spur more volatility for dollar pairs. 

AUDUSD2

No actual rate changes are expected for now but the Fed will also print its updated forecasts for growth and inflation, giving market watchers clues on when the next rate hike might take place. The updated dot plot forecast for policymakers' tightening expectations is also due 

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/fr
Devis
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Rejoignez-nous en seulement 1 minute!

Télécharger MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/fr