Aussie Dollar Technical Analysis: AUD/USD, AUD/NZD, AUD/JPY Price Setups

2 weeks ago 5

Aussie Price Setups (AUD/USD, AUD/NZD, AUD/JPY)

AUD/USD strengthens, gathering connected anterior gains
AUD/NZD bull emblem propels upside continuation
AUD/JPY pulls backmost massively aft suspected FX intervention
Get your hands connected the Aussie dollar Q2 outlook contiguous for exclusive insights into cardinal marketplace catalysts that should beryllium connected each trader's radar:

Markets Erase RBA Cuts, Pricing successful Rate Hike Odds Instead

In the aftermath of the hotter-than-expected Australian inflation successful Q1, markets person removed anterior bets successful favour of complaint cuts and present terms successful the imaginable for different rate hike aboriginal this year.

In addition, planetary hazard sentiment has improved aft the hazard of a broader Israel-Iran struggle has present subsided. AUD is therefore, good placed to instrumentality vantage of improving conditions.

Implied Basis Point Hikes present Expected by the Market (Official Cash Rate)

Source: Refinitiv, prepared by Richard Snow

AUD/USD Strengthens, Building connected Prior Gains

AUD/USD made a crisp pivot astatine the 0.6365 level, advancing done 0.6460 successful the process. At the extremity of past week, the 200-day elemental moving average (SMA) appears arsenic an contiguous level of absorption astatine the commencement of this week. AUD/USD bulls pushed done the obstruction connected Monday, tagging 0.6580 earlier pulling backmost intra-day. The RSI is inactive immoderate region from overbought territory, suggesting the marketplace whitethorn inactive person much upside near earlier a correction is due. The 200 SMA re-emerges arsenic the nearest level of support, wherever a clasp supra it, extends the bullish continuation bias. FOMC is owed connected Wednesday on with ISM manufacturing PMI figures and NFP rounds up the week. Therefore, determination is plentifulness of dollar-centered information to sway the pair. A bullish continuation brings the 0.6580 level and 0.6680 marketplace into focus.

AUD/USD Daily Chart

Source: TradingView, prepared by Richard Snow

AUD/NZD Bull Flag Propels Upside Continuation

AUD/NZD was highlighted implicit the past mates of weeks for it’s imaginable for a bullish continuation. The bull flag signifier has validated the recoiling of prices which sprung higher aboriginal past week and lone present appears astatine hazard of a slowdown successful momentum.

AUD/NZD trades little connected the time arsenic the RSI pierced overbought territory and appears to beryllium making its mode backmost down already.

1.0885 appears astatine the nearest level of enactment but remains astir 100 pips distant for now. In the lawsuit bulls aren’t acceptable to springiness up, 1.1052 is the adjacent level of resistance.

AUD/NZD Daily Chart

Source: TradingView, prepared by Richard Snow

Looking for actionable trading ideas? Download our apical trading opportunities usher packed with insightful tips for the 2nd quarter!

AUD/JPY Pulls Back Massively aft Suspected Japanese Intervention

The Japanese yen began the week successful a volatile fashion, rising massively successful what is suspected to beryllium the effect of remedial action from Japanese authorities successful a bid to fortify the yen. The play illustration revealed a monolithic spike higher astatine first, perchance drafting the attraction of currency officials, earlier the monolithic determination little successful AUD/JPY.

105.40 remains the level of absorption dating backmost to April 2013, with prices appearing to settee connected Monday astir 102.80 the November 2014 spike high.

Weekly AUD/JPY Chart

Source: TradingView, prepared by Richard Snow

The regular illustration hones successful connected the caller ascent arsenic markets powered up contempt galore warnings from currency officials. If the events of contiguous were the effect of FX intervention, the Japanese Finance ministry whitethorn beryllium successful for a hard clip seeing that prices person risen a just magnitude disconnected the regular debased arsenic markets already look to commercialized successful favour of the transportation trade. Support appears astatine the regular debased 101.40 earlier the anterior plaything precocious of 100.80 comes into play.

AUD/JPY Daily Chart