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.

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
EUR/USD
Mixed
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
Wall Street
Mixed
Gold
Mixed
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
GBP/USD
Bullish
USD/JPY
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
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.99% Gold: 0.14% Oil - US Crude: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WLLkyZNDig
  • #DAX: A breakout above 12913 could soon have the gap-down in focus from February that kicked off the massive Q1 sell-off. Get your DAX market update from @PaulRobinsonFX here: https://t.co/Cw29vVEcxI https://t.co/Z3fN7K5kpX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.02%, while traders in US 500 are at opposite extremes with 74.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n5Xuy8XTuC
  • #Fed Beige Book: - Employment increased on net in nearly all districts - Payrolls remain well below pre-pandemic level in almost all districts $DXY
  • #Fed Beige Book: - Economic activity increased in nearly all districts, but down from pre-pandemic levels - Retail sales led by rebound in auto sales - Most districts report uptick in manufacturing activity - Construction remains subdued $DXY
  • RT @MarketsTicker: Fed's Beige Book says activity increased in almost all districts but remains well below pre-pandemic levels
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.69% Wall Street: 0.64% Germany 30: -0.22% FTSE 100: -0.22% France 40: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uVAPLeD1hH
  • New York #Fed Executive VP Logan says drop in balance sheet a signal of financial market health - BBG
  • The plunge in gold volatility has not seen an ensuing drop in gold prices – more evidence that our longstanding axiom on the gold volatility-gold price relationship holds true. Get your $XAUUSD market update from @CVecchioFX here: https://t.co/GeXl10ibPv https://t.co/xH8yBn8qAG
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-15
AUDUSD Retraces to Resistance

AUDUSD Retraces to Resistance

2015-09-10 13:45:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The AUDUSD attempts both bullish and bearish breakouts
  • Today’s range measures 36 pips
  • S4 breakouts begin above .7048

AUDUSD 30Minute Chart

AUDUSD Retraces to Resistance

(Created using Trading View Charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

Trading has been mixed on the AUDUSD today, with prices challenging both values of support and resistance. The pair first dipped overnight, below its S4 Camarilla pivot at .6977. Price action soon recovered however, moving back inside of today’s 36 pip trading range. The range, identified in the graph above, begins at the S3 pivot found at .6994 and concludes at the R3 pivot at .7030. A move inside of the range nullified the first attempted breakout, and has signaled a change in market conditions for the day.

Shortly after moving through today’s trading range, price completed a bullish breakout above the R4 pivot found at .7048. From this point, prices have advanced as much as 44 pips to the standing daily high at.7092.Looking at current price action, the AUDUSD has retraced off its highs back to today’s R4 pivot. If prices remain supported above this area, it can allow traders an opportunity to take advantage of fresh bullish momentum. First targets above R4 include a 1x extension of today’s range at .7084. It should be noted, that any bullish bias would at least be temporarily invalidated with a price drop below .7030, back inside of the previously mentioned trading range.

AUDUSD Retraces to Resistance

Camarilla pivots are useful support and resistance tools for day trading. Learn more about pivot points with DailyFX! You can begin learning about markets and trading intraday price reversals with pivot points HERE.

Once you are ready to get started, register for a FREE Forex demo with FXCM. This way you can practiceyour day trading techniques while watching Forex pairs in real time.

Previous Market Setups

EURUSD Fails to Breakout on NFP News

FX Reversaks: GBPUSD Range Update

FX Reversals: EURUSD Moves to Support On News

FX Reversals: USDCAD Attempts Early Morning Breakout

FX Reversals: EURUSD Attempts Breakout on News

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

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

DISCLOSURES

News & Analysis at your fingertips.