AUD/USD Trading Analysis (Daily, 4H, 1H)

Detailed trading analysis of AUD/USD across Daily, 4-Hour, and 1-Hour charts. Key levels, trend analysis, and trading strategies are provided for effective market positioning.

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Jul 5, 2024 - 11:00
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AUD/USD Trading Analysis (Daily, 4H, 1H)

AUD/USD 

Daily Chart Analysis

  • Trend Analysis: The AUD/USD pair is in an uptrend, evident from the series of higher highs and higher lows.
  • Key Levels:
    • Resistance: The major resistance level is around 0.68374.
    • Support: The key support level is at the recent breakout zone around 0.67034.
  • Pattern: There is a breakout from a consolidation zone, signaling potential for further bullish movement.
  • Strategy: Wait for the daily candle to close above the breakout zone for confirmation to enter a long position. The next target would be the resistance level around 0.68374.

4-Hour Chart Analysis

  • Trend Analysis: Continuation of the bullish trend with higher highs and higher lows.
  • Key Levels:
    • Resistance: Immediate resistance at the breakout level of 0.67317.
    • Support: The ascending trendline and the previous resistance turned support around 0.66786.
  • Pattern: The 4-hour chart shows a breakout above a consolidation zone, followed by a retest of the breakout level.
  • Strategy: Look for buying opportunities on the retest of the breakout level (around 0.67000 - 0.67200) with targets at the recent highs and the daily resistance level. Consider setting stop-loss below the ascending trendline.

1-Hour Chart Analysis

  • Trend Analysis: Short-term bullish trend supported by recent price action.
  • Key Levels:
    • Resistance: Immediate target at 0.67317.
    • Support: Intraday support at the previous resistance zone around 0.66800 - 0.67000.
  • Pattern: The 1-hour chart confirms a breakout with a retest of the breakout zone, suggesting continuation of the upward movement.
  • Strategy: For intraday traders, consider entering long positions around the retest level with targets near the resistance at 0.67317. A tight stop-loss can be placed below the recent low or the retest level.

Conclusion

This comprehensive analysis of AUD/USD across different time frames helps in identifying potential trading opportunities by understanding the trend, key levels, and optimal entry and exit points. By using a combination of trend lines, support and resistance levels, and breakout patterns, traders can formulate effective strategies for various trading horizons.