AUDUSD

**Samirofi** · 08-08-2013, 01:50 PM

Markets are slightly in the risk-on mode after good Chinese trade balance numbers. As it usually happens, AUD will be impacted the most on any news from China, so the currency found support in Asian trading and is now one of the strongest on the day despite the fact that employment figures reported in Australia came out worse than expected (-10.2K vs. +6.2K exp.).

Technically speaking AUDUSD still has only three legs up on the hourly chart and we know it’s a structure of a corrective, contra-trend price action. We also should not be ignoring the larger bearish trend evident on the weekly or daily level.

As such, we are ready for AUD weakness, but need some confirmation from the market first. We are talking about a possible impulsive decline from the current levels and back to 0.8970 or even lower.

If we get this type of fall then the bearish bias will be confirmed and we would be interested to go short AUD against the USD. If we don’t get five waves down in the near-future then we obviously it’s better to stay aside on AUD.

**Samirofi** · 10-15-2013, 01:36 PM

Update: 15 Oct 2013

**Samirofi** · 10-25-2013, 01:06 AM

Update: 25 Oct 2013

**Samirofi** · 02-25-2014, 02:23 PM

Update: 25 Feb 2014

**Samirofi** · 02-28-2014, 11:27 AM

Update: 28 Feb 2014

lucidgeron · 06-29-2014, 08:15 PM

Good analysis. I'm not much in trading with AUD/USD but recently something triggered my strategy to accept this pair. I have a question: My account shows that spread on AUD/USD is 0.7 pips, but actually when I open a trade, the spread sum calculated is something less that for 0.7 pips (calculation shows that it is only 0.6 pips) I know that it is good for scalping but isn't it better to open some hedging trades?

**Samirofi** · 07-14-2014, 04:54 PM

AUDUSD Bearish Reversal – Elliott Wave Analysis

AUDUSD hit new highs around 0.9500 two weeks back from where we have seen a strong reversal in price. A fall has unfolded in an impulsive manner on the 4h time frame, so we suspect that the move is part of a bearish swing.

With that said, a five wave rally up in C) of 4) can be finished, so the market is expected to weaken now, back and through 0.9200/0.9220 zone in the days ahead.