Important AUD Pair’s Technical Overview: 28.06.2017

AUD/USD

Even if a week-long ascending trend-line portrays AUDUSD’s strength, the pair repeatedly fails to clear downward slanting trend-line, at 0.7615 now, which in-turn indicates brighter chances for the pair’s pullback to 0.7560 on the break of 0.7585 TL support. During the pair’s extended downside below 0.7560, the 0.7535 may offer intermediate stop before reigniting the importance of 0.7520-15 horizontal-line, which if broken could fetch prices to 0.7485 & 0.7465 support-levels. Alternatively, a clear break of 0.7615 enables the quote to target 0.7635 and then the 61.8% FE level of 0.7670 ahead of looking at the 0.7700 round-figure. Given the Bulls’ dominance after 0.7700 break, it becomes wise to expect 0.7740 as next resistance.

EUR/AUD

Following its daily closing beyond 1.4905-15 horizontal-line, the EURAUD now aims for the 1.5000, the 1.5040 and the 1.5070-75 consecutive resistances. Should the pair keep rising beyond 1.5075, it becomes capable enough to meet 1.5140 and then the current-month high around 1.5225. Meanwhile, pair’s dip below 1.4900 negates its latest breakout and may again drag it to 1.4830 and then to 1.4800. In case of the pair’s sustained downside after 1.4800, 1.4725 and the 1.4685, comprising immediate trend-line, could try restricting following moves failing to which can flash 1.4595 on the chart.

AUD/CAD

AUDCAD just dropped below two-month old ascending trend-line support of 0.9960, which in-turn signals its south-run to 0.9920, 0.9860 and the 0.9845 supports. Given the quote’s additional weakness after 0.9845, the 0.9800 and the 0.9755 can entertain sellers. However, a daily close above 0.9960 may term the latest dip as false and could trigger the pair’s pullback to 1.0015 and the 1.0040. During the pair’s extended recovery beyond 1.0040, the 1.0080 and the 50-day SMA level of 1.0100 and a descending trend-line resistance of 1.0135 becomes crucial for buyers to observe.

AUD/NZD

AUDNZD’s bounce from 1.0365-70 might find it hard to clear a month-long descending trend-line resistance of 1.0475 and can come-back to 1.0420 and the 1.0400 before visiting the 1.0370-65 region. If prices decline after 1.0365, the 1.0300 round-figure could be a small buffer to pass ahead of portraying a plunge towards 61.8% FE level of 1.0280. On the upside, a clear break of 1.0475 can help short-term Bulls to target 1.0515 and the 1.0550 horizontal-line, which if broken could stretch the up-moves to 1.0585 and the 1.0620 resistance-levels. Moreover, pair’s successful trading above 1.0620 raises the possibilities to witness 1.0690 number to north.

Cheers and Safe Trading,
Anil Panchal