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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Uptrend in Focus as #RBA Holds Policy Steady Link: https://t.…
  • Overall quiet reaction from $AUDUSD to the #RBA rate decision Most notable update likely has to do with them letting the markets know that they could do more adjustments to bond purchases given rising yields But that may have already been priced in...
  • RBA: Bond purchases brought forward this week to assist market -BBG #RBA
  • RBA: Lending conditions remain sound, important to remain so. Committed to 3-year target, will continue buys as needed -BBG
  • RBA: Board will not raise rates until CPI at target range, global bond yield swings have made other assets volatile. Prepared to make further adjustments to bond buys -BBG #RBA
  • RBA: $AUD remains un upper end of range of recent years, economic recovery well underway and stronger than expected. Committed to maintain highly supportive monetary conditions -BBG #RBA
  • RBA: Wage and price pressures expected to remain subdued, does not expect conditions met to raise rates until 2024. Economy still has considerable spare capacity -BBG #RBA $AUDUSD
  • RBA leaves 3-year yield target unchanged at 0.1% -BBG
  • 🇦🇺 RBA Interest Rate Decision Actual: 0.1% Expected: 0.1% Previous: 0.1%
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here:
AUDUSD Rally at Risk- Scalps Target 8300 Resistance

AUDUSD Rally at Risk- Scalps Target 8300 Resistance

Michael Boutros, Strategist

Talking Points

AUD/USD Weekly

AUDUSD Rally at Risk- Scalps Target 8300 Resistance


AUDUSD Rally at Risk- Scalps Target 8300 Resistance

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • AUDUSD rebound coming into initial region of resistance
  • Long scalp bias at risk sub-8300 (bearish invalidation)
  • Interim support at 8200- (scalp bias invalidation)
  • Daily RSI resistance trigger breach- constructive
  • Event Risk Ahead: US CPI, Industrial Production & University of Michigan on Friday

AUD/USD 30min

AUDUSD Rally at Risk- Scalps Target 8300 Resistance

Notes:The aussie has been trading within the confines of a well-defined ascending pitchfork formation off the December lows with today’s rally taking the pair into a key resistance zone just below the 8300-handle. The region is defined by the 100% extension off the monthly low, the upper median-line parallel (blue) and the September trendline resistance and will serve as our near-term bearish invalidation level.

That said, our long-scalp bias is now at risk sub 8300 with a break below 8194 shifting the focus back to the short side of the Aussie. A breach above the 83-handle keeps the long-bias in play with such a scenario targeting scalps into the confluence of the 50% retracement & 1.618% extension at 8413//23. Caution is warranted heading tomorrow’s data series with key US inflation, industrial production and the University of Michigan sentiment surveys likely to fuel added volatility in USD based pairs.

* It’s extremely important to give added consideration regarding the timing of intra-day scalps with the opening ranges on a session & hourly basis offering further clarity on intra-day biases.

Relevant Data Releases

AUDUSD Rally at Risk- Scalps Target 8300 Resistance

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

For updates on this scalp and more setups follow him on Twitter @MBForex

To contact Michael email or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFXat 13:30 GMT (8:30ET)

Interested in learning about Fibonacci? Watch this Video

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