AUD/USD Currency Pair Forecast

AUD/USD currency pair upgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)

AUDUSD Signals & Forecast

The AUD/USD currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the currency pair has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.663 and $0.663. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -0.566%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The currency pair had a Golden Star Signal on Monday, June 17, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Support, Risk & Stop-loss for AUD/USD currency pair

AUD/USD finds support from accumulated volume at $0.664 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved $0.0032 between high and low, or 0.477%. For the last week the currency pair has had daily average volatility of 0.559%

Our recommended stop-loss: $0.641 (-3.70%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (AUDUSD) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect AUD/USD to open at $0.666, and during the day (based on 14 day Average True Range), to move between $0.662 and $0.670, which gives a possible trading interval of +/-$0.0038 (+/-0.58%) up or down from last closing price. If AUD/USD takes out the full calculated possible swing range there will be an estimated 1.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.666 (0.00%) than the support at $0.664 (0.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is AUD/USD currency pair A Buy?

AUD/USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.487 Hold/Accumulate Upgraded

Predicted Opening Price for AUD/USD of Friday, June 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.