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.



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
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
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.02% Germany 30: -0.15% France 40: -0.27% FTSE 100: -0.29% View the performance of all markets via
  • Gold prices are finally showing life in what should be one of the best fundamental environments in recent history.Get your $XAUUSD market update from @CVecchioFX here:
  • ECB VP de Guindos: - ECB forecasts inflation to decline next year and remain low - There is still time to decide on the PEPP program's destiny $EUR
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.74% Gold: 1.27% Oil - US Crude: -0.04% View the performance of all markets via
  • USD/CAD continues to reverse lower, now trading below the June swing high $USDCAD
  • Company earnings bolster FTSE 100 index. Downtrend on UK treasury yields continues. Get your market update from @WVenketas here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.15%, while traders in Wall Street are at opposite extremes with 75.10%. See the summary chart below and full details and charts on DailyFX:
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.61% Wall Street: 0.61% FTSE 100: -0.04% Germany 30: -0.04% France 40: -0.09% View the performance of all markets via
  • EUR/USD continues to push higher on post-FOMC USD weakness, eyeing test of 1.19 $EURUSD
AUD/USD Revisits Multi-Month Resistance

AUD/USD Revisits Multi-Month Resistance

Michael Boutros, Strategist

Talking Points

  • AUDUSD rally testing multi-month resistance range- Immediate long-bias at risk below
  • Updated targets & invalidation levels
  • Looking for more trade ideas? Review DailyFX’s 2017 Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30GMT (8:30ET)


AUD/USD Daily Chart

Technical Outlook:AUDUSD is probing a key resistance range we’ve been tracking for the past few months at 7735/56- this region is defined by basic trendline resistance, the 88.6% retracement of the April decline & the 2016 high-day close and has continued to cap rallies in Aussie since August. The focus is on this key range heading into the close of the month with a close above needed to mark a more significant breakout opportunity in the pair. That said, the immediate advance remains at risk while below this threshold with interim support seen at the monthly open 7656.

AUDUSD 120min

AUD/USD 120min Chart

Notes:A look at the intraday chart highlights a near-term slope originating off the monthly lows with the weekly opening range now taking shape just below the 7735/56 resistance zone- look for the break with a move sub-7651/56 needed to mark a more meaningful correction in the pair. Such a scenario targets subsequent objectives at 7620 & 7591. Broader bullish invalidation rests at 7542/47 (3/3 swing low / 200-day moving average).

A breach topside breach still has to contend with the November high at 7778- but beyond that, it should be smooth sailing to 7835. From a trading standpoint, I’ll be looking for exhaustion around these levels with a deeper pullback to offer more favorable long opportunities into structural support – the first of which would be the monthly open. Keep in mind seasonal tendencies favor USD weakness (i.e. AUDUSD strength) heading into the start of April trade.

A quarter of the daily average true range (ATR) yields profit targets of 17-22pips per scalp. Most of the event risk this week will come from the USD with the release of the February Durable Goods Orders on Friday highlighting the economic docket.

  • A summary of the DailyFX Speculative Sentiment Index (SSI) shows traders are net-short AUDUSD- the ratio stands at -2.28 (30.5% of traders are long)- bullish reading
  • Traders have been net-short since January 9th when Aussie was trading near 7182- Since then, the pair has rallied 7.7%
  • Long positions are 4.5% higher than yesterday and 9.9% lower from last week
  • Short positions are 5.2% higher than yesterday and 19.0% higher from last week
  • While SSI continues to broadly point higher, it’s worth noting that the recent build in open interest & recovery in SSI off the monthly lows suggest the immediate bullish bias is at risk- especially as prices press key resistance.


Relevant Data Releases

AUD/USD Revisits Multi-Month Resistance

Other Setups in Play:

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex contact him at or Click Here to be added to his email distribution list.

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