empty
28.07.2022 07:58 AM
AUD/USD: uside scenario takes shape

The AUD/USD pair rallied as the Dollar Index dropped after the FOMC, even though the FED increased the Federal Funds Rate from 1.75% to 2.50% as expected. It seems that the current rate hike had been already priced in. After its strong rally, the currency pair could retreat to test and retest the near-term support levels before resuming its growth.

Fundamentally, the AUD could lose ground as the Australian economic data came in worse than expected. The Retail Sales rose by 0.2% less compared to 0.5% expected, while the Import Prices surged by 4.3% less versus 4.5% estimated.

Today, the US data could be decisive. The first estimate GDP is seen as a high-impact event and it's expected to report a 0.4% growth after the 1.6% drop in the previous quarter. In addition, the flash GDP Price Index and the Unemployment Claims indicators will be released as well.

AUD/USD Retests The Buyers!

This image is no longer relevant

As you already know from my analysis, AUD/USD could resume its growth as long as it stays above the median line (ml) of the ascending pitchfork. It has retested this dynamic support before jumping higher.

I've told you in my previous analysis that a valid breakout above 0.6977 and through the upper median line (uml) could signal an upside continuation.

AUD/USD Forecast!

The currency pair found resistance above the weekly R1 (0.7010) and now it has retreated. It could test and retest the immediate downside obstacles before resuming its growth. A valid breakout above the R1 and a new higher high, a bullish closure above 0.7012 could announce further growth and could bring long opportunities.

Only dropping and stabilizing below 0.6967 could invalidate an upside continuation and could signal a downside movement.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on April 30th (U.S. Session)

Trade Analysis and Tips for Trading the Japanese Yen The test of the 142.82 price level occurred at a time when the MACD indicator had already moved significantly above

Jakub Novak 13:23 2025-04-30 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 30th (U.S. Session)

Trade Analysis and Tips for Trading the British Pound The test of the 1.3377 price level occurred at a time when the MACD indicator had already moved well below

Jakub Novak 13:20 2025-04-30 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 30th (U.S. Session)

Trade Analysis and Tips for Trading the Euro The test of the 1.1386 price in the first half of the day coincided with the MACD indicator having already moved

Jakub Novak 13:18 2025-04-30 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on April 30. Review of Yesterday's Forex Trades

The test of the 142.54 level in the second half of the day coincided with the MACD indicator just beginning to move downward from the zero line, confirming a correct

Jakub Novak 08:31 2025-04-30 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 30. Review of Yesterday's Forex Trades

The test of the 1.3400 level in the second half of the day coincided with the MACD indicator just beginning to move upward from the zero line, confirming a correct

Jakub Novak 08:31 2025-04-30 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 30. Review of Yesterday's Forex Trades

The test of the 1.1398 level in the second half of the day occurred when the MACD indicator had just begun to move upward from the zero line, confirming

Jakub Novak 08:31 2025-04-30 UTC+2

Intraday Strategies for Beginner Traders on April 30

The rise of the euro and the pound has paused. Yesterday's weak U.S. consumer confidence data failed to seriously pressure the dollar, resulting in only a modest strengthening

Miroslaw Bawulski 08:31 2025-04-30 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders for April 29th (U.S. Session)

The test of the 142.69 price coincided with the MACD indicator having already moved significantly above the zero mark, which limited the dollar's upward potential. For this reason

Jakub Novak 19:18 2025-04-29 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders for April 29th (U.S. Session)

The test of the 1.3383 price coincided with the MACD indicator moving well below the zero mark, which limited the pair's downside potential. For this reason, I did not sell

Jakub Novak 19:01 2025-04-29 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders for April 29th (U.S. Session)

There were no tests of the levels I marked in the first half of the day. European credit activity statistics had little significant impact on the euro during the first

Jakub Novak 18:58 2025-04-29 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.