AUDUSD – Potential BAT Pattern
The AUDUSD pair erased majority of early Asian session losses to 0.7315 level and turned flat as the greenback seems to add on to its Friday’s sharp downfall. Bullish Bat developing. RSI in overbought territory Waiting for potential downward move for pattern completion (Price actionFX:AUDUSD about to violate the trendline/price channel) to place Buy at around 0.7250 level Stop placed at 0.72300 TP 1 – 0.72942 TP 2 – 0.73216 Structure supports the 0.72500 area (Forex Market News).
AUDUSD – Bullish High Reward/Risk Pattern
On Monday, the pair initially weakened to 0.7315 after Melbourne Institute’s inflation gauge for May fell back below 0.0% after dipping into inflationary territory earlier in Feb. Bullish Bat developing. RSI in overbought territory Waiting for potential downward move for pattern completion (Price action about to violate the trendline/price channel) to place Buy at around 0.7250 level Stop placed at 0.72300 TP 1 – 0.72943 TP 2 – 0.73217 Structure supports the 0.72500 area – there was a lot of resistance here, and this should most likely be support now (Forex Market News).
AUDUSD Levels To Watch | Forex Market News
At the moment the pair is losing 0.19% at 0.7355 and a break below 0.7261 (200-day sma) would aim for 0.7143 (low May 24) and then 0.7064 (23.6% Fibo of the Jan-Apr up move). On the other hand, the initial hurdle aligns at 0.7373 (post-NFP high Jun.3) followed by 0.7404 (high May 11) and finally 0.7480 (55-day sma).
AUDUSD On Wave 4 Correction.
Momentum above 100-day SMA immediate resistance, near 0.7365-70 region, is likely to get extended towards 0.7400 handle, which if conquered would set the stage for a strong appreciating move back above 0.7450 resistance, towards 0.7485 resistance area. Expect 5 waves up to point IV.
AUDUSD H4 Possible Bearish BAT Pattern
The pair has partially faded Friday’s strong advance to the area of 0.7370 following lower- than-expected US Non-farm Payrolls, dropping to the 0.7320/10 band during overnight trade in response to a pick up in the demand for the greenback. Here we might see a Possible Bearish Bat pattern very close to completion. The overall trend is Bearish so this might be a very nice short opportunity right here!
The much weaker-than-expected US payrolls print for May left markets reeling. US equities slipped while the USD fell sharply. But the most significant adjustments were the shifts in near term pricing for the Fed.