AUD/USD

My view on the daily

The chances of a rate cut is virtually zero, so there won't be much of an initial reaction to the actual rate decision.

I think price will do so.

I'm not expecting RBA to cut nor raise rates, I'm expecting them to hold and holding interest also has an affect, price has to go either up or down.

https://www.efxnews.com/story/31822/...Oll2xc.twitter

Everyone seems to feel that the RBA will hold rates. The tone of the statement will be what's important I think,

Also, I am admittedly not very strong on fundamentals, but it seems to me that the PBoC is the wildcard here with them continuing to devalue the Yuan. Especially after what the BOJ did last week, I would expect some kind of reaction out of China. Maybe someone with a strong background in the fundamentals of this pair can elaborate on this or correct me if I am wrong.

With that said, I am a seller but hoping to see a pop to start the week so that I can get in at a better price.

Technicals won't be relevant today. Just watch PBOC for most relevant short term drag.

For the rest of the week, AUD just gonna get dragged, capped only by upper limit.

Longer term speaking ... AUD follows commodity prices, which currently seems to be falling.

RBA's ideal range previously was 0.70 - 0.75.

Some bearish momentum in the AUD/USD right now. The pair favors a short term correction lower within a couple of the intraday studies as well as in the cyclical indicator on the index. The pair is sitting on the lower bound of my oscillator channel, don't know if it will stall right here or not, but a break lower through that could open the door to some additional sell off. 0.6993 firs major target for me on this pair.

3, 2, 1 ..........

hahaha... seriously time for me to grab some zzzz's so I can catch some of London.

Shorting anywhere under 0.7150 and TP under .70. Long term bias is down but its not ready to test under 0.65 until later this year?

Patience

Got in a little early as I think it will continue down to 7020 area support, 4hr 55ema, 1hr 200ema and breakout retest.
Got a TP at 7240 and a sell limit at same price.
I think Fridays doji type is false

After being confined within the pattern for the last 2 weeks before breaking out on Thursday, it looks to me like a retest back inside the pattern today.
A close today back above will confirm bullish momentum in my book

u guys think this pair going to make the third Eliot Wave leg? after seein the graph given by iwillwait and Ll1979 and hovedguy above..look like this pair really

going to around 0.7145x-0.7200 before going down..there is a supply area around there too...

Its really not about technicals this week. Upside is capped till 0.71 as of now, pending us data snd rba.

Price has broken the supply at 0.7068, the next good supply at 0.72668 . Currently price is in retracement, i hope price will hit the demand at 0.7015 and move up. Lets see.

More likely that the AUDUSD stretch its recent pullback.

With the AB=CD completion last week and that daily reversal hint on Friday, 6983 could be due for a touch up

I'll be looking to take a small short somewhere between 0.7135 and 0.72. I see this recent move up as a retest of the daily trendline that was broken last month. Confirmation of this I think will be a break of 0.7070 and 0.7048 which I have as the monthly and weekly pivots. I'll add to my position if we can get there. Ultimately I think that price will really struggle to find traction above the 0.72 handle.