AUDUSD Rebound?

[Rambo35]

I have talked about this currency pair since it hit the 0.9200 mark and I added to my long positions at 0.9050. I think we will see a move higher and a breakout from its current chart pattern. We may saw a capitulation sell-off on Friday ahead of Chinese GDP data as trader’s were preparing for the worst.

Chinese GDP came in at 7.5% and market the second consecutive quarterly slowdown. The Australian Dollar rallied on the news and I think we may see a push higher past the 0.9500 level. That’s just my take on it.

 

[James McCabe]

Hi Rambo35, it seems AUD/USD has more room to go up, currently coming down and find support at 0.9140



Same view with you, I think if it can go up above 0.9290 making higher high then it is possible for the pairs to go further challenging 0.9500
There are confirmation from market outlook where:
- RBA have no plan to do rate cut again in short - medium term
- Bernanke's testimony said fed have no preset or exact time to stop the tapering, investors take this as dovish signal for US dollar

 

[dkami]

- RBA have no plan to do rate cut again in short - medium term

Can you give us your source of this insider information?

AUDUSD oversold on W1 with bullish divergence forming so I do think there is high possibility of a pullback maybe to .9650 or possibly even higher 1.0150 medium term but this will only be a pullback and not a reversal in my opinion,I'm looking for buy signal on h4 and if that doesn't happen ill buy my next W1 support around .8550 for the bounce and see where that takes me

 

[Rambo35]

I think we could see a run at 1.0000 before Christmas, so far it is showing signs of a bottom and levels are holding.

 

[dkami]

Building Approvals came in today and was way worse than expected -6.9% be prepared for another cash rate cut next week,could be some time before I see a buy signal

P.S. with a good NFP number and a RBA rate cut next week .8550 could be here before we know it!

 

[Red Herring]

I am on short on this pair may be little late this time to enter...