AUD/USD Price Analysis: Capped by 0.75 area, bears stay in the race for deeper daily correction

Market news

29 March 2022

AUD/USD Price Analysis: Capped by 0.75 area, bears stay in the race for deeper daily correction

AUD/USD bulls are tiring at the 0.75 area, so far,
Failures through 0.7510 could lead to a deeper daily correction.

Following the Retail Sales data from earlier in the Asian session on Thursday, the price has attempted to rally but has come against offers protecting the 0.75 area so far:

AUD/USD hourly chart

From a longer-term perspective, the focus is on the downside so long as 0.7510/12 areas can hold and there will be prospects for a run into the daily support area, presuming that a deeper correction on the daily chart will play out before there is enough fuel for a continuation higher:

Schedule for tomorrow, Wednesday, March 30, 2022

Commodities. Daily history for Monday, March 28, 2022

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.