{"id":52902,"date":"2014-06-17T11:43:56","date_gmt":"2014-06-17T15:43:56","guid":{"rendered":"http:\/\/countingpips.com\/?p=52902"},"modified":"2014-06-17T11:43:56","modified_gmt":"2014-06-17T15:43:56","slug":"audusd-takes-a-tumble-critical-support-ahead","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/audusd-takes-a-tumble-critical-support-ahead\/","title":{"rendered":"AUD\/USD Takes A Tumble; Critical Support Ahead"},"content":{"rendered":"<div id=\"inves-543585076\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 17, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>RBA Monetary Policy Meeting Minutes triggered a decent AUD sell-off across the board;<\/li>\n<li>US traders shrug the decline in Building Permits (0.99M vs. consensus of 1.07M) and Housing Starts (1.00M vs. forecast 1.04M), focus remained on 0.3% Core CPI increase;<\/li>\n<li>0.9315-25 support is critical for the bullish bias.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>Even with the recent sell-off, AUD\/USD remains in decent shape as long as the decline does not extend below the 0.9315-25 support area. The longer term direction will be decided tomorrow, as traders will be anxiously waiting for the FOMC Statement and the adjacent releases.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/06\/AUDUSD-17th-June.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4220\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/06\/AUDUSD-17th-June.png\" alt=\"AUDUSD 17th June\" width=\"700\" height=\"341\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">With AUD\/USD trading at 0.9337 and immediate support located between 0.9315-25, the pair might be setting the scene for a serious bullish bounce tomorrow. From a swing configuration perspective, the pair maintains a bullish bias due to the Higher High on 12<sup>th<\/sup> June, consequently the location of a probable Higher Low will be crucial for any bullish scenarios.<\/p>\n<p style=\"text-align: justify;\">The support area at 0.9315-25 is marked by a huge cluster of indicators. First and foremost, this area has been a tried and tested price pivot zone since April. On the Daily chart the 100-Day Moving Average is backing up this area, while on the lower 4H timeframe the 100 and 200 Simple Moving Averages are also situated here. Finally, the 50% Fibonacci Retracement level between 0.9028 and 0.9436 is also priced situated at 0.9322.<\/p><div id=\"inves-2832184345\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">A bullish bounce starting from the support confluence will pave the way for another rally towards 10<sup>th<\/sup> April high of 0.9460. A new Higher High, near the 0.9526 pivot zone from the second half of 2013, is also a valid extension of this bullish scenario.<\/p>\n<p style=\"text-align: justify;\">Every long trade idea crumbles if AUD\/USD continues the sell-off and stabilizes below 0.9315. This would open the way to lower support levels, first to 0.9250 and ultimately back to 0.9200 where the 100-Day and 200-Day SMA strengthen the next crucial pivot zone.<\/p>\n<p>*********<br \/>\n<em>Prepared by Alex Z., Chief Currency Strategist at <\/em><a href=\"http:\/\/www.capitaltrustmarkets.com\/\"><em>Capital Trust Markets<\/em><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways RBA Monetary Policy Meeting Minutes triggered a decent AUD sell-off across the board; US traders shrug the decline in Building Permits (0.99M vs. consensus of 1.07M) and Housing Starts (1.00M vs. forecast 1.04M), focus remained on 0.3% Core CPI increase; 0.9315-25 support is critical for the bullish bias. Even with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52902","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=52902"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/52902\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=52902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=52902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=52902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}