• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy AUD/USD and AUD/NZD Analysis: Key Levels to Watch
Economy

AUD/USD and AUD/NZD Analysis: Key Levels to Watch

by October 31, 2024
by October 31, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Overall Analysis

The Australian Dollar/US Dollar has currently in a selling trend for a long, following a channel-based moment. 
The Australian Dollar/New Zealand Dollar is also under selling pressure and is currently on a sensitive level.

AUD/USD Chart Analysis 

AUD/USD 15-Minute Chart (Source: TradingView)

On the 29th Oct 2024 price continues following the selling trend, respecting both the support and resistance area as marked on the chart.

Trading opportunity triggers best when prices go in a channel. You can plan multiple safe entries with a small stop loss in such a situation, while the RSI supports the trend. Whenever the price goes near the 64 RSI level, chart prices take rejection from the resistance trendline.

If talking about the selling entry trigger in the current situation, then we can see currently, RSI and chart are following historic data. Entry can be planned in two ways.

If the price returns to the resistance area and rejects it, you can open a selling position targeting 0.65770, 0.65114, or the supporting trendline, with a stop loss set at 0.65818.
The second entry can be a bit risky but can result in high returns. Using the trailing stop loss method is very important. If the price doesn’t touch the resistance area and drops below the 0.65370 level, then plan an entry targeting 0.65114 or the supporting trendline. Please note: if price successfully breaks the supporting trendline and crosses the 0.65114 level, then huge selling might trigger.

AUD/NZD Chart Analysis 

AUD/NZD 15-Minute Chart (Source: TradingView)

On 29th Oct 2024, prices moved sideways, following the resistance trendline while taking support from the supporting trendline.

On 30th Oct 2024 current market condition, we can see price has broken the supporting trendline and a major level of 1.09794, which is a major support level. 

You can open a selling position at the current level since prices have successfully broken the 1.09746 level and continue moving downwards. Safe traders can make an entry when the price again takes rejection from the 1.0962 level for the targets of 1.90613 and 1.09379, with 1.09871 as the target. 

The post AUD/USD and AUD/NZD Analysis: Key Levels to Watch appeared first on FinanceBrokerage.

You Might Also Like
  • Jan 6 rioters, abortion, gun rights: A look ahead at landmark cases SCOTUS will hear in 2024
  • Israel’s most wanted: ‘Butcher of Khan Younis,’ other Hamas terrorists now in IDF’s sights
  • Morning Glory: Now or never time for Israel?
  • Minnesota Senate passes sweeping gun control laws, including ‘red flag law’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Oil & Gas Trends: Resistance Rejections & Trade Setups
next post
S&P 500 Slide 0.48% as Wall Street Weighs Tech Earnings

You may also like

SafeMoon and Litecoin: Targets and Prices for Tuesday

October 8, 2024

Graham dismisses Liz Cheney’s Trump warning, says ‘world will be...

December 4, 2023

Harris campaign claims she no longer supports fracking ban she...

July 27, 2024

Indiana Planned Parenthood clinics suspend abortions as new law takes...

August 2, 2023

Pete Buttigieg’s husband asks Bud Light boycotters if they plan...

April 11, 2023

Ohio Republican Secretary of State ‘actively’ considering Senate run against...

March 5, 2023

Judge in Hunter Biden gun case orders search warrants unsealed

January 30, 2024

Chris Christie ‘confident’ he will be on fourth GOP debate...

December 4, 2023

Biden interviewed by special counsel about classified documents

October 10, 2023

Watchdog hits John Kerry with science ethics complaint over climate...

June 20, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    US military records reveal instructional materials...

    July 8, 2023

    Outrage as UN-Palestinian exhibition uses murdered...

    December 1, 2023

    Democrats slam Biden for bypassing Congress...

    January 12, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here