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
Oil - US Crude
Wall Street
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
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here:
  • The British Pound, Australian Dollar and US Dollar may all experienced heightened periods of volatility as geopolitical risks in North America, Asia and Europe rattle global financial markets. Get your $GBPUSD market update from @ZabelinDimitri here:
  • The New Zealand Dollar may continue to outperform the haven-associated US Dollar as price breaks above key long-term resistance. Get your $NZDUSD market update from @DanielGMoss here:
  • #Gold prices declined following bearish technical cues, but a key zone of support was reinforced over the past 48 hours. #XAUUSD volatility risk is elevated ahead of the #USElection -
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? EUR/USD may fall as AUD/USD rises. Which way could USD/CAD capitulate? Find out from @ddubrovskyFX here:
  • US #COVID19 cases hit a record for a second consecutive day -BBG
  • The Indian Rupee may weaken following a breakout higher in USD/INR. Despite rising global stock market volatility, the Nifty 50 has been holding its ground. Could it capitulate lower? Find out from @ddubrovskyFX here:
  • The US Dollar gained, pushing USD/SGD to break higher. However, USD/IDR may be looking at losses ahead. USD/MYR struggled to breach the March trendline. USD/PHP could rise.Get your market update from @ddubrovskyFX here:
  • The #DowJones and #SP500 have as of today averaged: -2.16% & 1.43% 3-months and 1-year before #Election2020 respectively What could this mean for the incumbent president/Trump next week? 👇
AUD/USD Runs to Highs as Dollar Sell-off Deepens

AUD/USD Runs to Highs as Dollar Sell-off Deepens

2017-06-29 18:20:00
Michael Boutros, Strategist

To receive Michael’s analysis directly via email, please SIGN UP HERE

Talking Points


AUD/USD Daily Chart

Technical Outlook:The Aussie has continued to trade within the confines of an ascending pitchfork formation- although it doesn’t look that compelling here, intraday price action does shows more evidence for the use of this slope. That said, price is testing the 161.8% extension of the advance off the May lows at 7676/80.

A breach higher from here targets a longer-term trendline resistance extending off the 2016 highs (red), currently around ~7705 (note that the 2017 high-day close comes in at 7690). This threshold is backed closely by a critical resistance zone at 7735/56 where the 2016 high-day close converges on the upper parallel and the 88.6% retracement. Both of these regions represent areas of interest for near-term exhaustion / short-entries.

AUD/USD 240min

AUD/USD 240min Chart

Notes: A closer look at the 240min chart highlights initial support at 7650 / the median-line with the immediate focus higher while above this region, for now. Key support and broader bullish invalidation rests lower at 7560/67.

Remember, we’re heading into the close of the week, month & quarter- not our favored intraday trading environment. That said, added caution is warranted heading into tomorrow’s data releases with U.S. Personal Consumption Expenditure (PCE) and income / spending figures on tap.

AUD/USD Retail Sentiment
  • A summary of IG Client Sentimentshows traders are net-short AUDUSD- the ratio stands at -2.12 (32.1% of traders are long) - bullish reading
  • Retail has been net-long since June 4th; price has moved 2.9% higher since then
  • Percentage of traders net-long is now its lowest since Jun 20 when AUDUSD traded near 75802
  • Long positions are 26.1% lower than yesterday and 26.6% lower from last week
  • Short positions are 9.4% higher than yesterday and 11.0% higher from last week
  • We typically take a contrarian view to crowd sentiment, keeping the focus higher for the Aussie. That said, prices are approaching key resistance targets as sentiment is pressing fresh monthly extremes and does leave the long-bias vulnerable heading into the close of the month.

See how shifts in AUDUSD retail positioning are effecting market trends- Click here to learn more!


Relevant Data Releases

Economic Docket 6-29-2017

Other Setups in Play:

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at

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