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AUD/USD, EUR/AUD, GBP/AUD Technical Outlook: A Minor Upturn in AUD?


AUD, Australian greenback, EUR/AUD, GBP/AUD – Technical Outlook:

  • AUD/USD is trying oversold round key assist.
  • EUR/AUD and GBP/AUD are exhibiting indicators of fatigue at key resistance.
  • What’s the outlook and what are the important thing ranges to look at?


The Australian Greenback is trying a bit oversold in opposition to the US Greenback, pointing to the potential for some consolidation or a minor rebound within the close to time period. Nonetheless, any such transfer may very well be short-lived as the general development stays pointed down.

AUD/USD is testing key assist on the decrease fringe of a declining channel from late 2021, with the 14-week Relative Power Index (RSI) now in oversold territory. Related RSI ranges up to now had been related to a pause within the downtrend.

AUD/USD Weekly Chart


Chart Created Utilizing TradingView

Furthermore, AUD/USD has more-or-less achieved the goal of the Head & Shoulders-type topping sample after it dropped to 0.6234 this week. This wouldn’t essentially suggest that the pair can’t fall any additional – a sample goal tends to function a information, relatively than a rule. Certainly, a decisive break beneath the decrease fringe of the channel may pave the best way in the direction of 0.6050 (the 78.6% retracement of the 2020-2021 rise).

On the upside, a decisive break above rapid resistance on the end-September low of 0.6361 may open the door in the direction of the early-October excessive of 0.6547. AUD/USD wants to interrupt above 0.6547 for the short-term downward stress to ease.


Unfavourable momentum divergence (rising value related to declining momentum) at this week’s excessive signifies that EUR/AUD’s two-month rally look like shedding steam. Overbought circumstances coupled with a Doji candlestick close to stiff resistance on the July excessive of 1.5397 on Wednesday’s every day chart elevate the percentages of a minor retreat.

EUR/AUDDaily Chart


Chart Created Utilizing TradingView

A decisive break on the hourly chart beneath the October 11 low of 1.5390 would verify that upward stress had pale for now. Fairly robust assist is on the October 6 low of 1.5166. To be honest, any retreat is unlikely to change the two-month uptrend whereas the cross holds above the 200-day shifting common (now at about 1.5050).


GBP/AUD is testing a tricky converged hurdle – the 200-day shifting common and a horizontal trendline at 1.7800. Unfavourable momentum divergence (a stalling of value related to declining momentum) is an indication that the cross might must consolidate/retreat a bit within the brief time period.

GBP/AUDDaily Chart


Chart Created Utilizing TradingView

Any break beneath the early-October low of 1.7345 would set off a minor double high (the early-October highs), implying a possible fall in the direction of 1.7000. Moreover, a decisive break beneath final week’s low of 1.7244 would elevate the percentages of prolonged weak spot. GBP/AUD wants to carry above key assist at 1.7000 for the short-term upward stress to stay intact.

— Written by Manish Jaradi, Strategist for

DailyFX supplies foreign exchange information and technical evaluation on the tendencies that affect the worldwide forex markets.

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