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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The $JPY market faces a clear disconnect between domestic economic data and monetary policy. What if that were to change? Get your market update from @DavidCottleFX here:https://t.co/4Gr8tLaHvj https://t.co/0eXMv5CTnd
  • #Forex Forecast via @DailyFX: US Dollar Technical Outlook on $DXY, $AUDUSD, $USDCAD, $USDJPY & $EURUSD Full Analysis ⬇️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/11/17/usd-price-us-dollar-chart-forecast-dxy-audusd-usdcad-usdjpy-eurusd.html
  • Further escalation in Hong Kong will likely bode poorly for risk appetite https://t.co/0NjUd3ahBu
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Missed the episode? Read up here:https://t.co/JWIGJk4vKa https://t.co/WB39x4GP99
  • Poll - Does your personality match your #tradingstyle? Vote and find out from @WVenketas here: https://t.co/vREsUIWSJd https://t.co/Ft0ExAmMpq
  • #Dow Jones hits record high, however, central bank liquidity prompts volatility implosion. #FTSE 100 among underperformers with focus remaining on politics. Get your #equities market update from @JMcQueenFX here: https://t.co/EOFleGSeBp https://t.co/ecAyfSUeAM
  • RT @C_Barraud: 🇪🇺 #ECB’s Muller Says More Assets Could Join Stimulus List in Slump - Bloomberg https://t.co/roGEgu0VTQ
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Find out from @JStanleyFX here:https://t.co/O4dgBl47fq https://t.co/OQYqZAYt9S
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/WzRYeqRhUL
  • Despite what your #tradingstyle is, you should be keeping a trading journal. How can you start keeping a trading journal? Find out: https://t.co/0akgWbyJEw https://t.co/4ehMlN4zv1
AUD/USD Woes Not Shared by GBP/USD - GBP/AUD Breakout Imminent?

AUD/USD Woes Not Shared by GBP/USD - GBP/AUD Breakout Imminent?

2014-05-01 10:45:00
Christopher Vecchio, CFA, Sr. Currency Strategist
Share:

Talking Points:

- GBPUSD breakout leading GBPAUD after UK PMI data.

- AUDUSD fails at former resistance, looks weak below $0.9305.

- A dip in volatility today should be corrected tomorrow with Nonfarm Payrolls.

To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.

The UK economy is already seeing signs of reacceleration in Q2, and the latest bout of data has put the British Pound at yearly highs versus the US Dollar. While the GBPUSD breakout is following the volatility breakout plan outlined earlier this week, we've yet to see GBPAUD begin its move higher.

The GBPAUD stall near the pivotal A$1.8220 comes at the descending TL from the January and March 2014 highs. The level also coincides with the topping head & shoulders pattern that was on display from December through March. While the USD-based majors are due for further volatility given the incredible saturation of 'medium' and 'high' rated events on the US economic calendar over the coming days.

Watch the video for a more detailed explanation and a look at the charts.

Read more: FOMC, NFPs Best Bets to Stir US Yields, EUR/USD from Low Vol Slumber

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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

DISCLOSURES

News & Analysis at your fingertips.