How To Make Money Today: AUD/USD Daily Market Analysis and Forex Trading Signals 30 March 2022
To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…
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AUD/USD:
On the H4 timeframe, we see the potential for a bearish reversal from our 1st resistance at 0.75604 in line with 138.2% Fibonacci extension and -27.2% Fibonacci expansion, along with a graphical overlap resistance towards our 1st support at 0.74462 in line with 23.6% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where price is at resistance level
Areas of consideration
- H4 1st resistance at 0.75604
- H4 1st support at 0.74462
AUD/USD Price Analysis: Bears are eyeing a run to 0.74.
- As commodities prices decline, the AUD/USD bears are moving on.
- The bears will be looking for a move to test the 0.74 figure for the days ahead.
According to the latest CFTC positioning data, the AUD/USD is stalling on the daily gain, and net AUD short positions have failed to retain all of the previous week’s movements. However, net shorts are still lower than last month’s levels. In the spot market, rising commodity prices have provided support for the AUD against the USD, although they are also dropping, according to the Thomson Reuters CRB index.
As seen, the price is stalled on the bid and has yet to move in to offset the bullish advance on the daily chart’s imbalance. The bears will be hoping for a move to at least test the 38. percent Fibonacci retracement region, which is associated with the previous resistance around 0.74 at the beginning of March.
On the daily chart of the AUD/USD, the following highlights the chances of a correction in the meantime:
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