{"id":299294,"date":"2024-05-10T16:02:18","date_gmt":"2024-05-10T10:32:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=299294"},"modified":"2024-05-10T16:02:18","modified_gmt":"2024-05-10T10:32:18","slug":"aud-usd-price-analysis-pausing-within-new-uptrend-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aud-usd-price-analysis-pausing-within-new-uptrend-crypto-news\/","title":{"rendered":"AUD\/USD Price Analysis: Pausing within new uptrend &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>AUD\/USD is consolidating after reversing its short-term trend and beginning a new uptrend.\u00a0<\/strong><\/li>\n<li><strong>A break above 0.6624 would confirm more upside for the pair.\u00a0<\/strong><\/li>\n<li><strong>AUD\/USD may have formed a Measured Move with a final target at around 0.6690.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/audusd\" data-fxs-autoanchor=\"\">AUD\/USD<\/a> is trading in the 0.6610s on Friday after pulling back from resistance at the 0.6624 barrier.\u00a0<\/p>\n<p>The pair is probably in a short-term uptrend, evidenced by the rising sequence of peaks and troughs since the April 19 lows, visible on the 4-hour chart\u00a0<\/p>\n<h3 class=\"fxs_headline_medium\">AUD\/USD 4-hour Chart<\/h3>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_AUD_USD_2024-05-10_11-58-24-638509321802056015.png\"><\/a><\/p>\n<p>Given the old saying that \u201cthe trend is your friend\u201d the resumption of the uptrend suggests AUD\/USD will continue higher.\u00a0<\/p>\n<p>A re-break above the 0.6624 highs would provide confirmation of further upside to the next target at the 0.6649 resistance level of the May 3 high. Following that, the next target would be at around 0.6680-90.\u00a0<\/p>\n<p>The second target is generated by a possible Measured Move pattern that AUD\/USD has formed since the April 19 lows. These patterns are like large zig-zags composed of three waves, labeled A, B and C on the chart. The general expectation is that wave C will be either the same length as A or a Fibonacci 0.681 of A.\u00a0<\/p>\n<p>Wave C has already reached the Fibonacci 0.681 target of the Measured Move at the May 3 highs, however, there is a chance it could go all the way to the second target where C=A at 0.6690.\u00a0<\/p>\n<p>The Moving Average Convergence Divergence (MACD) momentum indicator has crossed above its signal line, giving a buy signal. The MACD has also started printing green histogram bars, further adding to the weight of bullish evidence.<\/p>\n<p>That said, it is still possible the correction from the May 3 highs may have further to run before the uptrend properly resumes.\u00a0<\/p>\n<p>In the advent of more weakness, the rectangular pale green zone drawn on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\" data-fxs-autoanchor=\"\">chart<\/a> just above the lower trendline is likely to provide a cushion of support for price. From there price will probably resume its uptrend.\u00a0<\/p>\n<p>Alternatively, a decisive break below the trendline would be a bearish sign, suggesting a potential reversal of the trend.\u00a0<\/p>\n<p>A decisive break would be one accompanied by a long red candle which closes near its low or three red candles in a row that break below the trendline.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>AUD\/USD is consolidating after reversing its short-term trend and beginning a new uptrend.\u00a0 A break above 0.6624 would confirm more upside for the pair.\u00a0 AUD\/USD may have formed a Measured Move with a final target at around 0.6690. AUD\/USD is trading in the 0.6610s on Friday after pulling back from resistance at the 0.6624 barrier.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[377,201,248,251,246,257,255,250,252,247,253,249,308,256,254],"class_list":["post-299294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audusd","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=299294"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299294\/revisions"}],"predecessor-version":[{"id":299295,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299294\/revisions\/299295"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/4722"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=299294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=299294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=299294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}