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
Real Time News
  • Wondering if $MS will drop its fire and ice scenario at some point or continue to call for a major pullback in stocks? #trading $SPX $DJI $RUT
  • Risk appetite is on the hunt for record highs to start the New York session with Bitcoin hitting the mark at $66,000 and the S&P 500 within easy reach of 4,545. DailyFX's @JohnKickligther discusses what is ahead today! https://t.co/HRDercEcMU
  • $DJIA about to hit its all time high https://t.co/dX26Ib4Bbc
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.68% 🇦🇺AUD: 0.49% 🇨🇦CAD: 0.36% 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.11% 🇯🇵JPY: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JfRnr21NMZ
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 0.59% Wall Street: 0.43% US 500: 0.39% FTSE 100: 0.08% Germany 30: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/nCnqh3uZfw
  • Heads Up:🇺🇸 Fed Evans Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-10-20
  • Poll: Do you think the S&P 500 will close out Wednesday with a 6th consecutive session's advance or will there be a pullback? Will it end with a record high close?
  • After a gap and crawl higher to start the trading day, the $SPX is now within a tenth of a percent from record highs. This index is working on its 6th consecutive advance https://t.co/VyEQuPClHb
  • The era of UK Quantitative Easing (QE) is coming to an end and the Bank of England (BoE) may well start increasing interest rates in early 2022 as inflation begins to stalk the UK economy. Get your market update from @nickcawley1 here:https://t.co/rYFNS9hcsT https://t.co/9nrLVRXlD7
  • Paul Tudor Jones is a legend, and dropped some bombs today re: inflation, outlook, etc said #Bitcoin was his preferred inflation hedge over Gold atm Him backing $BTCUSD was a big deal to me last year, at the time it was working on that 10k figure. https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/07/Bitcoin-Breakout-BTC-to-Fresh-Highs-JS-as-PTJ-Makes-Bull-Case-Bitcoin-to-USD.html
FX Reversals: AUDUSD Support Update

FX Reversals: AUDUSD Support Update

Walker England, Forex Trading Instructor

Talking Points

  • AUDUSD Moves to Support at .9431
  • R3 Range Resistance Sits at .9476
  • Price Under S4 Signals a Breakout to New Lows

AUDUSD 30min Chart

FX Reversals: AUDUSD Support Update

(Created using FXCM’s Marketscope 2.0 charts)

The AUDUSD spent most of the overnight trading session reversing between key points of support and resistance. With price failing to break out below S4 pivot support, range traders will look to take advantage of prices reversals back into the defined trading range pictured above. Currently range support for the AUDUSD is found at .9431 as denoted by the S3 pivot point. With price above this pivot, range traders can consider new buy entries in anticipation of an early morning price reversal. Range resistance currently stands at the R3 camarilla pivot which can act as potential range targets near .9476.

Range reversal traders should always be cautioned of the potential for a breakout. A move below the S4 support line at .9409 would signal a short term move towards lower lows, and signal a change in current market conditions. At this point, range trading should be concluded and traders can consider entries with the markets new influenced direction.

FX Reversals: AUDUSD Support Update

Are you unfamiliar with camarilla pivots and trading intraday market reversals? Increase your trading education with DailyFX! You can continue learning and work on your trading education HERE.

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your scalping techniques while tracking the market in real time.

Click HERE to Register Now

---Written by Walker England, Trading Instructor

To contact Walker, email instructor@dailyfx.com. Follow me on Twitter @WEnglandFX.

To be added to Walker’s e-mail distribution list, CLICK HERE and enter in your email information.

Previous Market Setups:

FX Reversals: EURCAD Reaches Intraday Resistance

FX Reversals: NZDJPY Intraday Resistance

FX Reversals: EURCAD Resistance Update

FX Reversals: EURUSD Intraday Breakout

FX Reversals: EURAUD Breaks Support

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

DISCLOSURES