15/11/22 Daily Currency Strength Analysis: AUDUSD- AUD Strength Offers Trading Ideas

Tues 15th November 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

• AUDUSD
• AUDCAD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

AUDUSD- AUD Strength Offers Trading Ideas

In today’s currency strength video we identified that AUD is S2 on the tables and the USD is W1 on the tables.

The AUD strength continues in the market but does it offer opportunities to trade against the weaker currencies?

AUDUSD is moving higher however, the price has come into the channel resistance and horizontal resistance at 0.6725. Trend traders may want to consider waiting to see if the price holds at the trendline. If it holds we could see the price return back to the previous highs at 0.6525. 

A breach of the channel resistance could see the price move towards the major resistance at 0.7000. 

Technical Observations

• The AUD is S2 on the day trader tables and the USD is W1.
• Price is at the long term channel resistance which could hold.
• If the price trades through the channel we could see a move up to the 0.7000 resistance.
• Trend traders should watch if the price returns back to the highs at 0.6525 the trend could continue here.