OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD Price Analysis: Flashing green, Thursday's close pivotal

  • AUD/USD is reporting gains, validating seller exhaustion signaled by Wednesday's Doji. 
  • A bullish Doji reversal would be confirmed if Thursday's close is above 0.6856.

AUD/USD picked up a bid around the 100-day average at 0.6840 about an hour ago and jumped to 0.6879 on the back of an upbeat Aussie jobs report. 

At press time, the pair is trading at 0.6868, representing a 0.36% gain on the day. The uptick validates seller exhaustion signaled by Wednesday's Doji candle. 

A bullish Doji reversal would be confirmed if the pair closes Thursday above Wednesday's high of 0.6856. That would open the doors for a potential break above 0.6934 (Jan. 16 high). 

On the downside, a close below 100-day MA average at 0.6840 would signal a resumption of the sell-off from the Dec. 31 high of 0.7032.

Daily chart

Trend: Teasing bull reversal

Technical levels

 

GBP/USD Price Analysis: Key Fibonacci levels can check bulls amid overbought RSI

GBP/USD seesaws near 1.3140 with a little movement during the Asian session on Thursday.
Read more Previous

USD/JPY bulls finally cave in below 110 handle, bears look to 61.8% Fib

USD/JPY is trading at 109.64 within a range of between 109.59 and 109.86 in a relatively risk-off environment as the media headlines are full of the c
Read more Next
Start livechat