How To Make Money Today: AUD/USD Daily Market Analysis and Forex Trading Signals 7 April 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, prices have bounced off a pivot. We see the potential for a dip from our 1st resistance at 0.75419 in line with 38.2% Fibonacci retracement towards our 1st support at 0.74379 which is an area of Fibonacci confluences. Our bearish bias is supported by RSI being at levels where dips previously occurred.
Areas of consideration
- H4 1st resistance at 0.75419
- H4 1st support at 0.74379
AUD/USD: Westpac expects a pullback to 0.7460 to find support.
Since the invasion, the Australian dollar has remained the strongest currency in the G10, followed by commodity-linked currencies. Despite the fact that the AUD/USD has been under a lot of selling pressure in recent days, analysts at Westpac believe the current drop will be short-lived.
Gains in the AUD/USD are expected to be capped at the 0.7650/0.7700 region in the short term.
“Around 0.7460, this pullback should find support.”
“Clearly, Australia’s already significant trade surpluses are bolstered by the remarkable rise in energy and metals prices. Still, the RBA’s sluggish approach to ultimately starting tightening contrasts with the FOMC’s open discussion of 50-basis-point rises.”
“According to CFTC statistics, many AUD shorts have now been unwound. This could keep the AUD/USD around the 0.7650/0.7700 range in the short term, while we foresee multi-month falls.”
AUD/USD Price Analysis: A short-term downturn is expected to push the pair closer to the 50-EMA around 0.7540.
- The AUD/USD pair may have a brief decline towards the 50-EMA around 0.7540.
- The downward filters are augmented by a bear cross of the 20- and 50-EMAs at 0.7565.
- The RSI (14) has moved into a bearish 20.00-40.00 range.
Following a new nine-month high of 0.7662 on Tuesday, the AUD/USD pair has been under heavy selling pressure. The major has collapsed like a house of cards, and a negative bias is expected to prevail given the current market action. In the previous two trading sessions, the major has lost more than 2.5 percent.
On an hourly basis, the AUD/USD is trading in a tight range of 0.7456-0.7470, lingering near the crucial demand zone. A sharp drop in an asset is usually followed by a short-term retracement, which might push the value towards the 0.7540 50-period Exponential Moving Average (EMA).
Bears have been pumped up by a bear cross of 20- and 50-period Exponential Moving Averages (EMAs) at 0.7565.
After shifting into a bearish range of 20.00-40.00 from a prior range of 40.00-60.00, the Relative Strength Index (RSI) (14) has exhibited a range shift.
For market players, a short-term decline around the 50-EMA around 0.7540 will be a possible selling opportunity. The asset would be dragged into the demand zone of 0.7456-0.7470. If the latter is breached, the asset will be exposed to additional losses towards the March 21 low of 0.7373.
If the asset reaches Wednesday’s high of 0.7594, though, aussie bulls may recover power. This will push the asset to a nine-month high of 0.7662, followed by a high of 0.7776 on June 11, 2021.
AUD/USD
| OVERVIEW | |
|---|---|
| Today last price | 0.748 |
| Today Daily Change | -0.0040 |
| Today Daily Change % | -0.53 |
| Today daily open | 0.752 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.7431 |
| Daily SMA50 | 0.7285 |
| Daily SMA100 | 0.7233 |
| Daily SMA200 | 0.7298 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.7594 |
| Previous Daily Low | 0.7486 |
| Previous Weekly High | 0.7541 |
| Previous Weekly Low | 0.7455 |
| Previous Monthly High | 0.7541 |
| Previous Monthly Low | 0.7165 |
| Daily Fibonacci 38.2% | 0.7527 |
| Daily Fibonacci 61.8% | 0.7553 |
| Daily Pivot Point S1 | 0.7472 |
| Daily Pivot Point S2 | 0.7425 |
| Daily Pivot Point S3 | 0.7364 |
| Daily Pivot Point R1 | 0.7581 |
| Daily Pivot Point R2 | 0.7642 |
| Daily Pivot Point R3 | 0.7689 |
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