AUD/USD

Are you ready?

AUDUSD
The most damaged pair since one month!
but I expect a great rebound soon,

f

#AUDUSD / H1

Possible for it to stall out around 0.72 or 0.73

the bottom should be 0.699 before the RBA interest rate decision next week, followed by a top around 0.72 or 0.73 before the FOMC

ideally, i would like to buy dips into a hawkish RBA decision and take profit around 0.73, then re-enter with a short position targeting a break of 0.699 towards 0.68 and under

The last two rallies started after the RBA cash rate decision. The bottom around 0.699 looks to be solid. Maybe it will hold today.

I bought from 0.705 and put a stop loss under 0.699. Target 0.72+.

seems to be the best pair right now, riding the waves and making some nice profits

Why?

The pair seems to have found support around 0.7050 just ahead of the RBA decision, with expectations for the Australian central bank's first, albeit small, rate hike.

While this could provide AUD/USD with some short-term relief, the medium-term direction will probably continue to depend on the war in Ukraine, lockdowns in China, and of course, the FOMC Meeting as you mentioned.

All trading carries risk, but it'll be interesting to watch how this pair reacts this week, and whether we see a bounce or a re-test of 0.7000/6990

It shouldn’t exceed 0.72, but maybe it will.

What is your 0.72 level based upon?

daily chart analysis

Haven't looked in a while, but it seems to be heading back to 7260 region Supp/Resistance

looks strong going into the FED, with 0.72 or even 0.73 as a target later today

0.73 is an easy target for bulls today, bears got wiped out

This could be possible, and with 0.73 being a key psychological level, a break above could open the possibility for an even stronger move. The pair will first need to get past resistance at its 200-day MA before it can target 0.73, but a hawkish RBA on Tuesday and dovish comments from the Fed today could fuel this move.

Of course, all trading carries risk, and with Wednesday marking AUD/USD's best day since the pandemic, it will be interesting to see if it can extend gains or if the move stalls around these levels.

been a few weeks but cot is showing assets went from +2000 to -17000 (short ) as of last week, so they are indeed loading up short again, this run up is probably them looking to load up short again, so I would expect AUD to dump once it hits 0.7330ish (if they are protecting their shorts from that average level, that is) - price currently at 07230

if it doesnt dump from that level and gets a range/support then expecting they might be waiting to get the market off side, or flipping their position, but we will see

me, im just trading the noise

commercials could be building positions again in AUD