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June 15, 2021

AUD- Hottest Market Moves

Frank Cabibi

6/15/2021

Buck pairs are moving hard this morning ahead of Australian employment numbers and after the US reports bad retail sales. A recent shift in sentiment in the forex market might have switched over to risk-off. European and Aussie currencies move hard ahead of US fed statements.

EUR/AUD

EURAUD 4H

EA up .4% on the day as Aussie is now turning bearish against the euro on the 4H. Bottoming support is at 1.56700s could be a good level to bounce from if price were to return. But, a higher high that formed could be a good sign for bulls on this pair, especially if USD starts dropping again (AUD will probably drop too).

AUD/USD

AUDUSD 4H

AU falls to support under 0.76743 and is showing some rejection from the lows which could be bullish potential. A falling trend line on the 4H timeframe could be a significant resistance level. Looks like a possible retest on the trendline will happen en lieu of FOMC.

AUD/CHF

AUDCHF 4H

ACHF is the biggest mover of the day down 0.59% as the Swiss Franc is gaining demand on cautious investors. Hitting the bottom trendline seems likely which also could result in a potential break under support.

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