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
More View more
Breaking news

UK Prime Minister Boris Johnson Resigns

Looking for Shorts as AUD/USD Breaks Out

Looking for Shorts as AUD/USD Breaks Out

Ilya Spivak, Head Strategist, APAC

AUDUSD broke out higher as expected expected. Prices took out resistance at the top of a falling channel set from April, pointing to a significant correction upward ahead. The 23.6% Fibonacci retracement at 0.9371 lines up as the next upside barrier, with a push above that exposing the 38.2% level at 0.9602. Channel resistance-turned-support is now at 0.9125. I will look to enter short following the bounce pending technical confirmation of ebbing bullish momentum.

See Chart Here

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

DISCLOSURES