Technical Check – Important AUD Pairs

AUDUSD

Even if short-term descending trend-channel, formed after the pair's failure to break 100-day SMA, caused the AUDUSD decline below 50-day SMA, the 0.7100 round figure mark, also encompassing the channel support, seems currently restricting the pair's further decline. However, a pullback from current level has limited upside as 0.7200, followed by the channel resistance near 0.7265 and the important resistance confluence near 0.7320-30, including 100-day SMA and more than a yearlong descending trend-line, could limit the pair's near-term advance. Though, a decisive break-through this important resistance can set the stage for extending the pair's near-term recovery towards testing its next major resistance near 0.7500 mark, including 23.6% Fibonacci Retracement of its down-leg from September 2014 to September 2015. Meanwhile, a daily close below 0.7100 may find short-term ascending trend-line, around 0.7050-45, as immediate support, breaking which chances of the pair's fresh downside towards 0.6970 and the 0.6900 psychological level can't be denied.

EURAUD

Following its failure to break 1.6145-75 horizontal area, the EURAUD seems obeying the short-term descending trend-channel formation. The pair recently bounced from the mentioned channel support, also including 50% Fibo of its April – August rise, and is currently struggling near 38.2% Fibo level around 1.5500 round figure mark. Should the pair manage to break 1.5500 on a daily closing, it can swiftly move to 1.5650-60 resistance area prior to testing the channel resistance, near 1.5750 at present. Further, pair's ability to surpass 1.5750 on a closing basis can accelerate its rise towards 1.5900 level, including 23.6% Fibo, before targeting 1.6145-75 area. Alternatively, a daily close below 1.5500 can continue signaling the pair's test to 100-day SMA, presently near 1.5280, the 50% Fibo, around 1.5130, and re-test the channel support near 1.5100 level. However, pair's inability to hold the 1.5100 level can make it vulnerable to plunge towards 1.4800 region, near to 61.8% Fibo level.

AUDNZD

A month old descending trend-channel formation keep favoring the AUDNZD downside; however, the pair currently rests near 1.0550-60 important horizontal support, including 61.8% Fibo of its April – July surge, indicating a quick bounce to channel resistance, near 1.0700 mark. Should the pair breaks 1.0700, also surpasses the 50% Fibo, near 1.0720, it stretch northward journey towards targeting 1.0875 – 1.0890 horizontal resistance area, including 38.2% Fibo, with 1.0800 being intermediate resistance. On the downside, pair's attempt to break 1.0550 can find the lower line of the mentioned channel, around 1.0430, as a strong downside support to limit the pair's further decline, breaking which it can immediately plunge to 76.4% Fibo level, near 1.0350 before targeting 1.0200 support area.

AUDJPY

Having reversed from 87.80 – 88.00 resistance confluence, encompassing 38.2% Fibo of its June – September decline and a four month old descending trend-line, the AUDJPY currently trades near the 23.6% Fibo and a 50-day SMA area, signaling a bit of pullback into the pair prices towards 86.85 – 87.00 resistance region. However, pair's further rise beyond 87.00 is likely to be restricted by 87.70-75 level, including the said 38.2% Fibo and trend-line confluence. Should the pair manage to break 87.75 on a closing basis, chances of its quick up-run to 89.50, including 50% Fibo, becomes brighter; though 88.50 can act as intermediate resistance. On the other hand, pair's inability to hold 85.50, 23.6% Fibo, may find 85.00 round figure mark, including short-term ascending trend-line, as a strong downside support. Moreover, extended downturn below 85.00 can make the pair's test 86.30 mark.

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