empty
27.03.2023 03:28 PM
AUD/USD outlook for March 27, 2023

This image is no longer relevant

AUD/USD continues to trade in a bear market, short-term, medium-term, long-term. Last week's macro statistics from Australia were weak and could not support the Australian currency, and from the minutes of the Reserve Bank of Australia's March meeting, published last Tuesday, it follows that the members of the Central Bank's management decided to revise the arguments in favor of a pause at the next meeting, recognizing that would give additional time to reassess the prospects for the economy.

In addition, the prevailing market and investor uncertainty weigh on the quotes of commodity currencies, particularly the Australian dollar.

This image is no longer relevant

Last month, as we mentioned in our previous review, was very bad for the Australian dollar and the AUD/USD pair, which lost all the gains of the previous two months in February and fell to 0.6729. This month also began for AUD/USD with a significant decline. However, this decline stopped near the local support level of 0.6570. At the moment, the pair is trading slightly above the local support level of 0.6635. If the corrective growth continues, a breakdown of the important short-term resistance level 0.6675 (200 EMA on the 1-hour chart) might be the first signal to resume the long positions, and a breakdown of the resistance levels 0.6740 (20 EMA on the 4-hour chart), 0.6758 (50 EMA on the daily chart) might be a confirmation signal.

This image is no longer relevant

To enter the medium-term bull market, the pair needs to break into the zone above the key resistance level 0.6820 (200 EMA on the daily chart).

In the main scenario, the price will break through the local support at 0.6635, last week's low at 0.6625, and head towards last year's low and the marks of 0.6285, 0.6200.

Technical indicators OsMA and Stochastic on the daily and weekly charts are also on the sellers' side.

A breakdown of the local support level at 0.6570 will confirm our assumption. In any case, for now, preference should be given to short positions.

Support levels: 0.6635, 0.6625, 0.6600, 0.6570, 0.6500, 0.6455, 0.6390, 0.6285, 0.6200, 0.6170

Resistance levels: 0.6675, 0.6700, 0.6740, 0.6758, 0.6790, 0.6820, 0.6900, 0.6920, 0.7040, 0.7110

Jurij Tolin,
Analytical expert of InstaForex
© 2007-2025
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

How to Trade the GBP/USD Pair on May 15? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair continued its upward movement throughout Wednesday, despite the absence of any specific fundamental reasons. The day before, a U.S

Paolo Greco 06:21 2025-05-15 UTC+2

How to Trade the EUR/USD Pair on May 15? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD The EUR/USD currency pair experienced upward movement for approximately half of Wednesday. The latest "surge" in the euro was particularly "impressive," although

Paolo Greco 06:21 2025-05-15 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 15: The Roller Coaster Begins

On Wednesday, the GBP/USD currency pair continued trading with an upward bias for some time, but it resumed its decline in the afternoon. From our perspective, the U.S. dollar

Paolo Greco 03:41 2025-05-15 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 15: Heading Down Again or Waiting for Trump?

The EUR/USD currency pair continued upward movement on Wednesday, but only briefly. In the afternoon, the euro started to decline, despite the lack of macroeconomic factors supporting such moves. Donald

Paolo Greco 03:41 2025-05-15 UTC+2

How to Trade the GBP/USD Pair on May 14? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair experienced significant growth, despite no clear catalyst behind it. On Monday, the dollar rose on specific grounds

Paolo Greco 06:11 2025-05-14 UTC+2

How to Trade the EUR/USD Pair on May 14? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair nearly fully recovered from Monday's decline. As reality has shown, strong reasons are required

Paolo Greco 06:11 2025-05-14 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 14: Even UK Unemployment Didn't Help...

On Tuesday, the GBP/USD currency pair easily recovered from the losses it experienced on Monday. Once again, we observe that the British pound rises more strongly than the euro

Paolo Greco 03:52 2025-05-14 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 14: The Circus Continues

The EUR/USD currency pair effortlessly regained most of Monday's losses. On Monday, it was reported that import tariffs between China and the U.S. had been reduced, which can legitimately

Paolo Greco 03:52 2025-05-14 UTC+2

How to Trade the GBP/USD Pair on May 13? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair also collapsed sharply, though it's more accurate to say the U.S. dollar showed strong growth. In recent

Paolo Greco 05:59 2025-05-13 UTC+2

How to Trade the EUR/USD Pair on May 13? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair plunged. Traders have likely gotten used to the idea that the U.S. dollar can't show strong

Paolo Greco 05:59 2025-05-13 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.