January 02, 2025 at 09:31AM
The Australian Dollar Futures (6A March 2025) are trading at 0.62150, closely aligned with the AUD/USD Forex pair on FXCM at 0.62140. Below are the key levels and signals to guide your trading decisions for today and the days ahead.
Bullish Map: Key Levels for Australian Dollar Futures
0.62086: Today’s developing VWAP. Price holding above this level signals that the bullish reversal remains in play, even if temporary.
0.62: Approximately yesterday’s VWAP. As long as price is above this level, short positions are not advisable.
0.62105: The Value Area Low (VAL) from December 27. Prices holding above this support strengthen the bullish outlook.
0.622: Today’s developing Value Area High (VAH), a critical level suggesting further upward momentum.
0.62255: The VWAP from two days ago, a resistance level that traders should monitor.
0.623: The VWAP from four days ago, marking an important resistance point.
0.62325: The Value Area High (VAH) from two days ago, a key target with a strong likelihood of being reached today.
0.626: A higher resistance level where partial profit-taking is expected, potentially leading to a pause or minor decline.
Bearish Map: Key Levels for AUD/USD Weakness
Price below 0.62086 (today’s VWAP) or 0.62 (yesterday’s VWAP) would weaken the bullish case and signal potential downside momentum.
Daily Timeframe Outlook for the Aussie
On the daily chart, the 20 EMA at 0.63022 is a critical level to watch. If Australian Dollar Futures reach this level, it could trigger additional profit-taking, leading to potential resistance.
What Australian Dollar Traders Should Be Looking Out For
The market is showing signs of a bullish reversal as long as prices remain above 0.62086 and 0.62. Key resistance levels to monitor are 0.62325, where a test is highly probable, and 0.626, where profit-taking may emerge. A move beyond these levels could signal sustained bullish momentum, but traders should be cautious of reversals near the daily 20 EMA at 0.63022.
As always, trade Australian Dollar Futures and AUD/USD at your own risk, and align strategies with your risk tolerance and market outlook. Visit ForexLive.com for additional perspectives.
This article was written by Itai Levitan at www.forexlive.com.