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28 Oct 2022

AUD/USD Price Analysis: Bulls need to hold above 0.6435

  • AUD/USD is meeting a key resistance line with eyes on a break of both hourly and daily trendlines. 
  • The bulls will be in control if they can hold above 0.6435/50.

As per the prior analysis, AUD/USD Price Analysis: A long squeeze could be in order for the day ahead, the following is a bullish scenario taking into consideration the bottoming pattern, the bullish trend line with the price still on the front side of the trend. 

AUD/USD daily chart

The bulls remain in control despite the risks of rejection at the resistance and a move below the trendline support. 0.6550 is a key level on the daily chart while the bulls hold on 100 pips lower. 

AUD/USD H1 chart

The hourly chart shows the price supported at 0.6450 and wedged in against a trendline resistance that could be about to give out. In doing so, the bulls will be in the runnings for a significant run to the upside to test 0.6500 and on the way to the more dominant resistance of the daily bearish trendline. 

Oct 28, 2022

Gold Price Forecast: XAU/USD retreats towards $1,650 on firmer DXY, focus on US PCE inflation

Gold price (XAU/USD) remains pressured for the second consecutive day as sellers poke short-term key support around $1,660 during Friday’s Asian sessi
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Oct 28, 2022

EUR/USD hovers at make or a break around 0.9960, yields drop further

The EUR/USD pair is auctioning on the edge of critical support of 0.9960 in the Tokyo session. The asset could continue Thursday’s downside momentum a
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