(Italics: previous analysis)

The latest in the weekly period has AUD / USD contact gloves with blue chip support at $ 0.6968-0.7242. Since the impression of a two-week rally in late August, the currency pair has struggled to attract further bullish interest. Failure to order the position 0.6968 at $ 0.7242 opens support at $ 0.6673. Regaining buyers still have first-rate resistance at $ 0.7849-0.7599 to target. Weekly scale trend studies show we have been higher since the start of 2020. Therefore, the answer from $ 0.6968 to $ 0.7242 could STILL be the start of a downward buying attempt. to merge with the current trend.

The daily calendar’s technical landscape informs that traders’ bids may be thin in the weekly main support, at least until price shakes hands with Fibonacci support at $ 0.7057-0.7126. Those who follow the Relative Strength Index (RSI) will note the value walked by the midline of 50.00 last week and had a toe drop below 40.00 on Monday. This highlights a bearish atmosphere until contact is made with oversold territory.

Price action in the H4 period approached a half-hearted decision point at $ 0.7200-0.7218 on Monday. On the upside, two resistances are on the radar at $ 0.7281 and $ 0.7317.

Further down the curve, an H1 decision point at $ 0.7269-0.7259 was put in the spotlight, an area formed in the early hours of Monday that saw a price tunnel through demand at 0.7248. $ -0.7259. Continuing interest on the downside has $ 0.72 to target.

Observed levels:

Each period analyzed highlights a bearish energy.

Weekly major support at $ 0.6968-0.7242 looks vulnerable due to the daily schedule showing the possibility of approaching Fibonacci support at $ 0.7057-0.7126. This, in addition to the H1 period decision point at $ 0.7269-0.7259 making a show, implies that a short-term move to $ 0.72 (H1) could be in sight (note that 0, $ 72 aligns with the lower band of decision point H4 at $ 0.7200-0.7218).


(Italics: previous analysis)

Since mid-July demand from 108.40 to 109.41 has not generated much bullish energy over the weekly period. Nonetheless, recognizing that the area is drawing further support from nearby descending resistance turned to support, extended from 118.61 high, a lead could eventually emerge towards the familiar offer at ¥ 113.81-112.22.

The uninspiring mood of weekly demand is demonstrated by a consolidation on the daily schedule between major support at 108.96-109.34 and resistance at 110.86-110.27. The beach stand, as you can see, is currently in the frame. In the event that the price deviates from the extremes of the range, there is resistance from Quasimodo at ¥ 111.11, as well as hidden support from Quasimodo at 108.43. Based on the Relative Strength Index (RSI), the value is confined to a consolidation around the midline 50.00, between 40.87 and 56.85.

The large declines observed in the main US stock indexes increased demand for the JPY safe haven on Monday. The drop in the USD / JPY shifts technical curiosity towards the H4 double-top model profit target (110.44) around 108.71, sharing the chart space with a 1.618% Fibonacci projection at 108.86 and a Fibonacci projection of 1.272% at 108.72. However, in order to achieve the aforementioned setup goal, the lower edge of the daily range support highlighted above at ¥ 108.96-109.34 should be taken.

As early US trade approached on Monday, the first half crossed swords with Quasimodo resistance turned support at 109.45 and peaked at 109.65 before shifting gears and heading towards support at 109.45. Quasimodo at 109.31. Territory below the latter reveals support at 109.11.

Observed levels:

In accordance with the H4 schedule, the reservation of additional losses is possibly possible up to the profit target of the double top model (110.44) around 108.71. Nonetheless, to achieve the aforementioned profit target, sellers should slightly break the daily expiration range support at 108.96-109.34 and factor in any bullish weekly demand interest at 108.40- 109.41.

If we could break through Quasimodo’s H1 support at 109.31, that could be a harbinger of bearish muscle entry, and with that, further selling could take shape.


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