News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bearish
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
More View more
AUD/USD Bounce to Yield Short Setup

AUD/USD Bounce to Yield Short Setup

Ilya Spivak, Head Strategist, APAC

The Australian Dollar has taken a heavy beating over recent weeks, with AUDUSD hitting a 20-month low to start this week. While worrisome data from China – Australia’s top trading partner – argues for continued weakness on the back of RBA rate cut expectations, the move lower seems vulnerable to correction. I will look for confirmation of a bottom being carved out near the 0.94 figure and allow prices to retrace higher, loosely aiming to get short in the 0.98-0.99 area (pending the formation of an actionable technical reversal signal).

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

DISCLOSURES