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
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
More View more
Real Time News
  • What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/l6FvtcADEH
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/dnrAMFK4U2
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
FX Reversals: AUDUSD Reversal Range Update

FX Reversals: AUDUSD Reversal Range Update

2014-09-16 13:16:00
Walker England, Forex Trading Instructor

Talking Points

  • AUDUSD Reverses Inside Daily Range
  • Range Resistance is Found at .9043
  • Bullish Breakouts Signaled Over .9061

AUDUSD 30min Chart

FX Reversals: AUDUSD Reversal Range Update

(Created using FXCM’s Marketscope 2.0 charts)

Suggested Reading: Trading Intraday Market Reversals

The AUDUSD has been range bound so far today, with price currently respecting key values of support and resistance. Price started the day testing range resistance at a price of .9043, located near the R3 camarilla pivot. In the absence of a breakout, price quickly dropped to range support identified by the S3 pivot at a price of .9006. The distance between these two points is 37 pips, which comprises today’s trading range. Price is currently trading in the middle of these values, and in the absence of a breakout of either support or resistance traders will look for ranging conditions to continue.

Breakouts are always a strong possibility during the U.S. Trading session. Traders should continue to monitor both breakout values to identify a change in market momentum. At present the R4 breakout pivot stands at .9061, and S4 support rests at .8988. In either scenario, a breakout would signal a conclusion to current range bound conditions. Traders could then opt to place orders with new market momentum.

FX Reversals: AUDUSD Reversal Range Update

Yesterdays Update

On Monday the EURGBP was trading in a tight 22 pip range. After moving to support overnight, range reversal traders were looking for a bounce in price back to the R3 resistance line during the U.S. trading session. By the conclusion of the trading day price had tested resistance, thus completing its second cycle of the daily range. To learn more use the link below, to review the setup!

FX Reversals: EURGBP Range Reversal

---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.

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


News & Analysis at your fingertips.