Subscribe to RSS

AUDUSD Facing Tough Barrier Towards Upside, Can it Break Higher?

  • Australian Dollar corrected from the 0.7150 low and currently facing a major resistance near 0.7250-60.
  • If the AUDUSD pair fails to break the stated resistance area, more gains are likely moving ahead.
  • Today, the minutes of the Reserve Bank of Australia meetings were published, which failed to ignite a break.
  • Australian House Price Index released by the Australian Bureau of Statistics posted an increase of 2% in terms of the quarterly change.

AUDUSD Technical Analysis

The AUDUSD pair managed to recover recently, and also climbed above the 100 hourly simple moving average. However, the most important point is the fact that the pair is facing a major hurdle near a bearish trend line on the hourly chart.

AUDUSD

The 200 hourly MA is also positioned with the highlighted trend line and resistance area. Moreover, the 61.8 Fib retracement level of the last drop from the 0.7330 high to 0.7150 low is also positioned around it.

In short, the pair needs to break the 0.7250-60 resistance area if it has to move higher further. On the downside, the 100 MA may act as a support area and prevent losses if the AUDUSD pair moves lower from the current levels.

Australian House Price Index

During the Asian session, the Australian House Price Index, which shows changes in housing prices of major cities in Australia was released by the Australian Bureau of Statistics. The forecast was lined up for an increase of 2% in terms of the quarterly change. The outcome was as forecasted as the Australian House Price Index rose 2%.

When we look at the yearly change, then the Australian House Price Index increased 10.7%, which was more than the last rise of 9.8%. The report stated that “capital city residential property price indexes rose in Sydney (+3.1%), Melbourne (+2.9%), Brisbane (+1.3%), Adelaide (+1.2%), Canberra (+1.3%) and Hobart (+0.5) and fell in Perth (-2.4%) and Darwin (-0.4%)”.

Overall, the report was positive, and helped the Aussie Dollar to some extent. The AUDUSD pair gained traction, but it looks like it is struggling near the last swing high of 0.7250-60 where there is a tough resistance forming.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time(0)

Switch to ForexTime and Free $30 Earn Trade-able Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Free Earn $30 Trade-able Trading Credit Bonus as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  FX

$100 Risk Free Money on your Live Account – FidelisCM

$100 Risk Free Money on your Live Account – FidelisCM(0)

Get $100 Free Risk Forex Money on your Live Account There is no better way to trust more. Sign up for $100  No Deposit Bonus from FidelisCM Live Account and start forex trading now. Link: $100 Free No Deposit Forex Bonus Link: 200% Margin Bonus on all Deposit Available to: New and Existing clients Ending

$14000 New Accounts Bonus on Initial Deposits – AvaTrade

$14000 New Accounts Bonus on Initial Deposits – AvaTrade(0)

Up to $14000 New Accounts Bonus on your Initial Deposits to all new trading account. Open a new live trading account and verify it Make a deposit of no less than $100 and request the New Accounts Bonus. Link:  100% Bonus to Your First Deposit Link:  30% Sign-up Bonus on your Deposit Link:  Up to

Up to 200% Withdrawable Cashback Bonus – Forex Time

Up to 200% Withdrawable Cashback Bonus – Forex Time(0)

Always aims for profitable promotions for FXTM Customer, this time they have come up with a 200% Cashback Rebate Bonus promo which enables traders to earn up to 10,000 USD withdraw able Cashback bonus. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions

$2500 Forex No Deposit Free Startup Bonus – InstaForex

$2500 Forex No Deposit Free Startup Bonus – InstaForex(0)

$2500 Free No Deposit Forex Bonus to Start Risk Forex Trading on InstaForex.com‎. With $2500 Free Forex Bonus you will be able to estimate our unsurpassed quality of order execution in live trading conditions with no risk and personal investments. Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus

100% Special Bonus Offer on a Deposit – World Forex

100% Special Bonus Offer on a Deposit – World Forex(0)

Get a 100% Special Bonus Offer on a Deposit plus for replenishment account And a free VPS server for every account replenishment in the amount of 100 USD. Link:  $10 No Deposit Forex Special Bonus Link:  Deposit $5 Receive $20 Special Bonus Link:  100% Forex Special Deposit Bonus Available to: All new trading account Ending

50 USD Forex No Deposit Bitcoin Bonus offer – UFX

50 USD Forex No Deposit Bitcoin Bonus offer – UFX(0)

$50 Forex No Deposit Bonus on their real account. This initial $50 Forex No Deposit Bonus offer is intended to allow new users of the platform the opportunity to test the real trading account. Link:  $50 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Available to:

Deposit $5 Receive $20 Forex Special Bonus – WForex

Deposit $5 Receive $20 Forex Special Bonus – WForex(0)

$10 Forex No Deposit Free Bonus or Deposit $5 Receive $20 Special Bonus Forex to all World Forex New Clients only. Trade with World Forex Broker Get 20$ or 10$ on your choice Link:  $10 Forex No Deposit Free Bonus Link:  Deposit $5 Receive $20 Special Bonus Available to: All new trading account Ending Date:

25 USD Receive Forex Cash Bonus for Free – Xtrade

25 USD Receive Forex Cash Bonus for Free – Xtrade(0)

$25 Receive Forex Cash Bonus for Free No deposit required to all Xtrade New Clients only and 60% Forex Deposit Bonus on your first time deposit to all new live trading account Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus Link:  $1000 Forex No Deposit Free Bonus Link: 

50% Deposit Bonus for Every Deposit – Fort Financial

50% Deposit Bonus for Every Deposit – Fort Financial(0)

Up to 50% Deposit Bonus for Every Deposit. Open and fund an account at FortFS.com and receive an exclusive 50% bonus on top of your initial investment up to $1000. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Available to: New and Existing

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories