Following its another bounce off the 0.7360-55 horizontal-support, the AUDUSD again confronts a month-old descending trend-line, around 0.7395-0.7400, which if broken could trigger the pair’s recovery towards the 0.7420 and the 0.7445-50 resistances. Assuming that Aussie buyers rule trade-sentiments after 0.7450, the 0.7475, the 0.7500 and the 0.7530 are likely following numbers that can appear in their radars. Meanwhile, pair’s dip beneath the 0.7355 can reprint 0.7330 & 0.7310 on the chart whereas the 0.7300 and the 61.8% FE level of 0.7260 may please the sellers afterwards.
Even if 1.5885-90 region seems a big barrier for the EURAUD’s upside, an ascending trend-line stretched since early-June, at 1.5750 now, could restrict the pair’s near-term declines. However, comparative strength of the EUR favors the pair’s advances than the otherwise. As a result, quote’s break of 1.5890 can fuel it to 1.5950 but upward slanting TL, at 1.5975, followed by the 1.6000 round-figure may challenge the optimists thereupon. Alternatively, pair’s downside break of 1.5750 can recall 1.5700 & 1.5650 supports. Also, sustained price drop below 1.5650 may push pessimists to target the 1.5600 & the 1.5540 rest-points.
It’s been more than a fortnight when the 100-day SMA is restricting the GBPAUD’s upside despite many attempts while 1.7755-45 area confines the pair’s south-run. Hence, the pair has to either register a D1 close beyond 1.7960 SMA or below the 1.7745 in order to please the momentum traders. Should the pair clears the 1.7960 barrier, the 1.8000 can offer an intermediate halt during its run up to 1.8080 and then to the 1.8165-75 resistance-zone. In case if Bulls manage to conquer 1.8175 on a daily closing basis, the 1.8200, the 1.8230 and the 1.8300 could become their favorites. Given the pair’s trading below 1.7745, the 1.7650 and the 1.7530 may mark their presence, breaking which 1.7390-75 broad support-region can challenge the Bears. If at all the quote drops beneath the 1.7375, the 1.7260, the 1.7200 and the 1.7100 should be watched carefully.
While AUDCAD’s successful trading above 0.9665-60 portrays brighter chances of its up-moves, the 0.9750, comprising 50-day SMA, could question the pair’s immediate strength, breaking which 0.9780 & 0.9840 might gain market attention. Should prices rally beyond 0.9840, the 0.9880 and the 0.9930-35 seem crucial for optimists to watch. On the contrary, a D1 close below the 0.9660 can pull the pair back to 0.9615 and the 0.9580 while 0.9550 may limit further downside. If at all the pair dips below 0.9550, it becomes vulnerable to plunge towards 0.9500 & 0.9455 support-levels.