Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
AUD/USD Technical Analysis: Trend Aims Lower Despite Choppy Trade

AUD/USD Technical Analysis: Trend Aims Lower Despite Choppy Trade

What's on this page


  • Aussie Dollar downtrend intact amid choppy, consolidative trade
  • Monthly chart suggests scope for meaningful weakness due ahead
  • Short term chart warns bearish resumption requires confirmation

Get help building confidence in your AUD/USD strategy with our free trading guide!

The Australian Dollar still seems to be biased lower against its US counterpart even as prices oscillate in a choppy consolidation range after finding support near the 0.67 figure. The pair still looks to be well-anchored below resistance guiding it lower since early December 2018, with a daily close above its upper boundary – now at 0.6963 – seemingly needed to neutralize the near-term bearish bias.

Australian Dollar vs US Dollar price chart - daily

Daily AUD/USD chart created with TradingView

Zooming out to the monthly chart paints an even more ominous picture. Prices have breached an 18-year rising trend line as well as the support shelf created by the preceding swing bottom in the 0.6900-0.7018 area. The next layer of meaningful support does not emerge until the 0.6009-0.6352 region. That appears to imply that sellers have a further 6-11 percent of downside progress in scope for the months ahead.

Australian Dollar vs US Dollar price chart - monthly

Monthly AUD/USD chart created with TradingView

Still, near-term positioning warns that betting on imminent bearish resumption might be premature. The immediate trajectory set from October lows remains defined by a series of higher highs and lows, suggesting AUD/USD may yet correct further before the structural decline is re-engaged. A break below counter-trend support (now at 0.6736) is probably a prerequisite for another lasting leg lower.

Australian Dollar vs US Dollar price chart - 4 hour

4-hour AUD/USD chart created with TradingView


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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