We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
Real Time News
  • $USDJPY may be set for a larger pullback on the back of a deteriorating risk environment amid the potential failure in US-China trade talks. Get your market update from @JMcQueenFX here:https://t.co/UOGT5xRX9v https://t.co/JLXsn96FQY
  • Poll: We've had some upgrades in a few growth forecasts from around the world recently and tomorrow brings the Nov PMIs (AUS, JPN, EZ and US). What do you think is the risk of a recession in 2020?
  • LIVE NOW: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • staring now -> https://www.dailyfx.com/webinars/3952937094787220994?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr https://t.co/fk3MmFxalj
  • That was a fast reversal in crude oil positioning among retail CFDs yesterday. Not as heavy a build up in short as we pressure 58 https://www.dailyfx.com/sentiment?CHID=9&QPID=917719 https://t.co/m1YFe8PEsM
  • LIVE IN 5 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.09%, while traders in France 40 are at opposite extremes with 82.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/pxnhohjlR2
  • LIVE IN 15 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Crude #oil prices are approaching confluence downtrend resistance just higher at 58.45/61. Get your crude oil technical analysis from @MBForex here:https://t.co/YtqEw4joWZ #OOTT https://t.co/WISQjuukP4
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.77% Silver: -0.08% Gold: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MB2wIHd8Zh
AUD/USD Could Get Fed Boost, But It's Not Likely To Last

AUD/USD Could Get Fed Boost, But It's Not Likely To Last

2018-12-18 02:50:00
David Cottle, Analyst
Share:

Currency Pair: Bullish AUD/USD

Expertise: Fundamental and technical

Average Time Frame: One week

New DailyFX Quarterly Forecasts for Q3 and are available here

The Australian Dollar has found support at its most recent significant low and been boosted both by comments from its own central bank and hopes for some interest-rate leniency by the US Federal Reserve.

The Reserve Bank of Australia’s latest set of monetary policy minutes was released on Tuesday, and still contained the insistence that the next interest rate move, when it comes will be a rise. The Fed meanwhile will set US monetary policy on Wednesday and market hopes are high that it will signal a hiatus in the currenly regular drum beat of Target Rate rises.

Should this signal come, there could be a further rise in AUD/USD, possibly above the current daily-chart range top which comes in at 0.7239, December 13’s intraday high.

However, gains are likely to be short lived. AUD/USD is already close to resuming the downtrend which has characterized much of this year. It could well get back within that trend before the year bows out. For all the RBA’s confidence, rate futures markets do not even come close to pricing in a single, quarter point rate rise for at least the next eighteen months. This reality will eventually reassert itself, whatever we hear from the Fed this week.

Australian Dollar Vs US Dollar, Daily Chart

Resources for Traders

Join a free Q&A Webinar and have your trading questions answered

Find out how AUD is viewed by the trading community in real time at the DailyFX Sentiment Page

Strategy not working? Here’s the number one mistake traders make

Just getting started? Check out the DailyFX Beginners’ Guide.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.