AUD/USD Daily Report

USD/JPY’s strong rebound last week confirms short term bottoming at 140.25, on bullish convergence condition in 4H MACD. Nevertheless, price actions from there are likely just correcting the fall from 151.89. While further rally cannot be ruled out, upside should be limited by 61.8% retracement of 151.89 to 140.25 at 147.44. On the downside, below […]

AUD/USD stayed in sideway trading below 0.6713 last week and outlook is unchanged. Further rally is in favor with 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at 0.6579) intact. On the upside, firm break of 0.6713 will resume whole rise from 0.6361 to 0.6870 resistance next. However, sustained break of 0.6578 will dampen […]

USD/JPY’s rebound from 140.25 resumed last week and edged higher to 146.40. But subsequent retreat indicates temporary topping. Initial bias is neutral this week first. Further rise is mildly in favor as long as 143.41 minor support holds. Above 146.40 will target 61.8% retracement of 151.89 to 140.25 at 147.44. Upside should be limited there […]