empty
17.07.2022 01:53 PM
Technical analysis of AUD/USD for July 17, 2022

This image is no longer relevant

Overview :

The AUD/USD pair broke resistance which turned to strong support at the level of 0.6733 last week.

The level of 0.6733 coincides with an important ratio (23.6% of Fibonacci), which is expected to act as major support today.

The Relative Strength Index (RSI) is considered overbought because it is above 50. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100).

This suggests the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend.

In other words, buy orders are recommended above 0.6815 (red line) with the first target at the level of 0.6850.

From this point, the pair is likely to begin an ascending movement to the point of 0.6897 and further to the level of 0.6960.

The level of 0.6960 will act as strong resistance and the double top is already set at the point of 0.7000.

On the other hand, if a breakout happens at the support level of 0.6683, then this scenario may become invalidated.

Key levels :

Resistance levels : 0.6850 - 0.6897 - 0.6960

Pivot : 0.6815

Support levels : 0.6733 - 0.6683 - 0.6600

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 21, 2025.

Although on the 4-hour chart the AUD/JPY cross currency pair is weakening, it seems that this weakening is only a momentary correction as long as it does not break through

Arief Makmur 06:25 2025-05-21 UTC+2

Technical Analysis of Intraday Price Movement Silver Commodity Instrument, Wednesday May 21, 2025.

On the 4-hour chart, the Silver commodity instrument appears to be showing Convergence between the Silver commodity instrument price movement and the Stochastic Oscillator indicator, so that in the near

Arief Makmur 06:25 2025-05-21 UTC+2

EUR/USD Forecast for May 21, 2025

On Tuesday, the euro firmly consolidated above the daily-scale balance line indicator, closed the day above the resistance level of 1.1266, and began today with an upward move

Laurie Bailey 05:19 2025-05-21 UTC+2

GBP/USD Forecast for May 21, 2025

Over the past week, the British pound has been advancing ahead of other currencies. This momentum may soon lead to a breakout above the rising channel and the target level

Laurie Bailey 05:10 2025-05-21 UTC+2

AUD/USD Forecast for May 21, 2025

Yesterday's rate cut by the Reserve Bank of Australia from 4.10% to 3.85%, although widely expected, did not allow the Australian dollar to consolidate above the 0.6444 resistance level. However

Laurie Bailey 05:10 2025-05-21 UTC+2

Forecast for USD/CAD on May 21, 2025

The USD/CAD pair has gradually declined for five consecutive days, remaining below the daily balance indicator line. A move below the support level of 1.3898 would accelerate the decline toward

Laurie Bailey 05:07 2025-05-21 UTC+2

Oil Forecast for May 21, 2025

This morning, on the daily chart, the price pierced the MACD line with an upper shadow. Visually, the trend appears upward, and the Marlin oscillator's signal line also points upward

Laurie Bailey 05:06 2025-05-21 UTC+2

Trading Signals for GOLD (XAU/USD) for May 20-22, 2025: sell below $3,281 (20 EMA - 6/8 Murray)

In case the price drops below 3,281, the instrument is expected to fill the gap at 3,201, or conversely, a consolidation above 3,290 is expected to fill

Dimitrios Zappas 18:58 2025-05-20 UTC+2

Trading Signals for EUR/USD for May 20-22, 2025: sell below 1.1270 (200 EMA - 21 SMA)

The euro has left a gap around 1.1170. If EUR/USD falls below the 6/8 Murray level located at 1.1230, the bearish pressure could accelerate, with the price potentially covering this

Dimitrios Zappas 18:56 2025-05-20 UTC+2

Forecast for EUR/USD on May 20, 2025

On Monday, the EUR/USD pair reversed in favor of the euro and returned for the third time to the resistance zone of 1.1265–1.1282. A new rebound from this zone

Samir Klishi 11:29 2025-05-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.