# AUDUSD Countertrend Play (Feb 16, 2017) Source: https://www.tradersway.com/resources/market-info/audusd-countertrend-play-feb-16-2017/ Language: en Updated: 2017-02-16 Description: Explore AUDUSD Countertrend Play (Feb 16, 2017). AUDUSd has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. AUDUSd has been trending higher on its short-term time frames, moving inside an ascending channel on its 1-hour chart. Price is currently testing the resistance at the .7700 major psychological level and might be due for a selloff back to the channel support at .7650. The 100 SMA is above the longer-term 200 SMA on this time frame, which means that the path of least resistance is to the upside, and the gap between the two is getting wider to indicate stronger bullish momentum. In addition, the 200 SMA lines up with the channel support, adding to its strength as a floor. Stochastic is already heading south from the overbought zone to indicate a pickup in selling pressure. However, if buyers remain in play, price could still move past the resistance and go on a sharper climb. The dollar gave back some of its recent gains to its peers after Fed Chairperson Yellen sounded less hawkish in her second testimony. Market watchers focused on her remarks on weak investment spending and productivity, which are dampening wage growth and inflationary pressures. Data from the US, namely retail sales and CPI, all came in stronger than expected while industrial production chalked up a surprise 0.3% drop versus the estimated 0.1% uptick. This was less upbeat compared to her earlier speech, which revealed that she is also looking to tighten sooner rather than later. In that testimony, she pointed to the progress in terms of achieving the Fed’s dual mandate of full employment and 2% inflation. Other Fed officials are supporting this view, with a couple of voting members also citing that they could vote to hike soon. ![AUDUSD Countertrend Play (Feb 16, 2017)] As for the Australian dollar, the currency is enjoying strong support from the less dovish RBA statement last week and improved data from China. CPI and PPI figures beat expectations for January, signaling stronger inflationary pressures and potentially higher demand. Australia’s jobs figures also turned out stronger than expected, with the economy adding 13.5K versus 9.7K jobs in January and the jobless rate improving from 5.8% to 5.7%. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/audusd-countertrend-play-feb-16-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/audusd-countertrend-play-feb-16-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/audusd-countertrend-play-feb-16-2017/", "headline": "AUDUSD Countertrend Play (Feb 16, 2017)", "inLanguage": "en", "datePublished": "2017-02-16T08:42:29+00:00", "dateModified": "2017-02-16T08:42:29+00:00", "articleSection": "Market Info", "description": "Explore AUDUSD Countertrend Play (Feb 16, 2017). AUDUSd has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/audusd-countertrend-play-feb-16-2017/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "AUDUSD Countertrend Play (Feb 16, 2017)", "item": "https://www.tradersway.com/resources/market-info/audusd-countertrend-play-feb-16-2017/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```