Intraday Analysis – AUD Begins Fightback

<div><img width="750" height="430" src="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093204/Intraday-Analysis-AUD-Begins-Fightback.png" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Intraday-Analysis-AUD-Begins-Fightback" decoding="async" loading="lazy" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093204/Intraday-Analysis-AUD-Begins-Fightback.png 750w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093204/Intraday-Analysis-AUD-Begins-Fightback-300×172.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></div><h2>AUDUSD keeps the high ground<br />
<a href="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092915/AUDUSD-24-1.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-216306" src="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092915/AUDUSD-24-1.png" alt="AUDUSD" width="1428" height="873" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092915/AUDUSD-24-1.png 1428w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092915/AUDUSD-24-1-300×183.png 300w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092915/AUDUSD-24-1-1024×626.png 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092915/AUDUSD-24-1-768×470.png 768w" sizes="(max-width: 1428px) 100vw, 1428px" /></a></h2>
<p>The strength of the US dollar has taken a breather as price action has been lifted. The pair has recouped some losses from this year’s sell-off after bouncing off 0.6540, which coincides with the 20-day moving average. This is a sign that the directional bias could remain upward. Momentum buyers could double down if the Aussie closes above 0.66. As the RSI retraces into neutral territory, 0.6655 is a fresh level to expect follow-up bids.</p>
<h2>NZDUSD breaks lower</h2>
<p><a href="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092940/NZDUSD-24-1.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-216307" src="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092940/NZDUSD-24-1.png" alt="NZDUSD" width="1428" height="873" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092940/NZDUSD-24-1.png 1428w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092940/NZDUSD-24-1-300×183.png 300w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092940/NZDUSD-24-1-1024×626.png 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24092940/NZDUSD-24-1-768×470.png 768w" sizes="(max-width: 1428px) 100vw, 1428px" /></a></p>
<p>The New Zealand dollar inched lower as risk appetite remained subdued across the board. On the chart, a bearish MA cross following a brief consolidation suggests that the rally could have picked up speed again. As prices fall towards the 0.60 level, a break here could open up November’s lows at 0.58. A break above the recent high of 0.6130 could trigger a runaway rally above 0.62. 0.6080 is the immediate support for the kiwi to build a stronger base.</p>
<h2>US 30 tests resistance<br />
<a href="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093006/US30-24-1.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-216308" src="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093006/US30-24-1.png" alt="US30 " width="1428" height="873" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093006/US30-24-1.png 1428w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093006/US30-24-1-300×183.png 300w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093006/US30-24-1-1024×626.png 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/24093006/US30-24-1-768×470.png 768w" sizes="(max-width: 1428px) 100vw, 1428px" /></a></h2>
<p>The Dow Jones hit another high driven by positive earnings season data. The index broke the 38000 level for the first time as it cleared the previous resistance at 37800. The hourly chart provides a wide swing range as bulls and bears wrestle for control. 38000 is fresh support, and renewed buying interest would pave the way to 38170 where selling pressure could reappear and a possible correction in the near-term.</p>
<p>The post <a href="https://www.orbex.com/blog/en/2024/01/intraday-analysis-aud-begins-fightback">Intraday Analysis – AUD Begins Fightback</a> appeared first on <a href="https://www.orbex.com/blog/en">Orbex Forex Trading Blog</a>.</p>