AUD/USD: technical analysis and trading recommendations_12/22/2021

 
 
 
 
 
 
 
AUD/USD W Chart

AUD / USD has risen since the beginning of this month, supported by the outcome of the December 7 RBA meeting. Meanwhile, the pair remains in the long-term bear market zone below the key resistance levels 0.7730 (ЕМА200 on the monthly chart), 0.7360 (ЕМА200 on the daily chart), 0.7320 (ЕМА200 on the weekly chart).

AUD/USD D Chart

A further decline in AUD / USD is most likely from both a technical and a fundamental point of view. A signal for new sales will be a breakdown of the short-term support level 0.7135 (ЕМА200 on the 1-hour chart), and then the local support level 0.7085. The lows of the recent next wave of decline are located near the level of 0.5510.

AUD/USD H4 Chart

In an alternative scenario, corrective growth may continue towards the resistance levels 0.7196 (ЕМА200 on the 4-hour chart), 0.7230 (ЕМА50 on the daily chart).

AUD/USD H1 Chart

However, only a rise into the zone above the key long-term resistance level 0.7360 (ЕМА200 on the daily chart) will indicate the resumption of the long-term bullish trend in AUD / USD. Immediate growth targets after that will be located at resistance levels 0.7510 (Fibonacci level 50% retracement to the wave of the pair's decline from 0.9500 in July 2014 to 2020 lows near 0.5510) and near the local 3-month high of 0.7555, reached at the end of October.

Support levels: 0.7135, 0.7085, 0.7037, 0.7000

Resistance levels: 0.7196, 0.7230, 0.7320, 0.7360

Trading Recommendations

Sell Stop 0.7115. Stop-Loss 0.7215. Take-Profit 0.7085, 0.7037, 0.7000, 0.6900, 0.6800, 0.6455, 0.6270, 0.5975, 0.5665, 0.5510

Buy Stop 0.7215. Stop-Loss 0.7115. Take-Profit 0.7230, 0.7320, 0.7360