The (AUDUSD) is consolidating in today’s Asia morning, tiring as it bumps against the psychologically key 0.75 whole figure level. Significantly, with the massive rally since the January low near the psychologically key 0.70 whole figure level, the AUDUSD has broken above downchannel resistance (on the weekly chart).  Odds are now moderately high for a test of the 2021 high sometime in H1.  The AUDUSD is vulnerable to first breaking ascending wedge support (on the 4hr chart) but should not slide in the next week back below this week’s low.  The weekly and daily RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am looking to go long in the green zone (of the daily chart), targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on EURJPY, COCOA

AUDUSD Weekly/Daily/4hr

Join the world's largest asset manager and 2 of the world's 5 largest (and 5 of the 10 largest) hedge funds by AUM as daily readers of Tradable Patterns' technical analysis. As seen on Bloomberg, Refinitiv, Factset and Interactive Brokers, readers include global top 10 investment banks. If you represent an institutional investor or potential distribution partner, write to info@tradablepatterns.com to request Bloomberg, Refinitiv and Factset readership reports. Also seen on FT (Financial Times), Interactive Brokers, ICE, Amazon, Zerohedge, CNA, Liquid (Quoine), Tradable Patterns publishes 4 newsletters: Today's Top 3 Trades, Equities & ETFs, Coffee Daily and Crypto Weekly Outlook.

Today's Top 3 Trades, Equities & ETFs, Coffee Daily, Crypto Weekly Outlook and all other Tradable Patterns content do not constitute an advisory and do not make recommendations, but can supplement your own analysis. Please do your own due diligence ahead of any trades.

(FXA)