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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
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
Oil - US Crude
Bullish
Low
High
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
Wall Street
Bullish
Low
High
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.10% Oil - US Crude: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qKzhq3VVN3
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zHY7m https://t.co/Bz8Go9K72L
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.07% 🇳🇿NZD: 0.03% 🇨🇦CAD: 0.01% 🇪🇺EUR: -0.02% 🇬🇧GBP: -0.03% 🇨🇭CHF: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/A5TMlQSzQP
  • RT @BrendanFaganFx: Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment $AUD $USD #Australia Link: https://t.co/k…
  • $USDSGD broke under the key 1.3375 - 1.3389 inflection zone over the last 24 hours Took out the 50-day SMA as well, awaiting confirmation This may open the door to revisiting January lows, especially if US yields continue to lose upside momentum #Singapore #SGD https://t.co/pIXS201NhI
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.84%, while traders in France 40 are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7WRQzbHU0c
  • $AUDUSD is dropping following the March employment report, which showed a decrease in full-time jobs. The RBA highlighted the pandemic's outsized impact on full-time employment in the Feb monetary policy statement. Full-time change: -20.8k Part-time change: +91.5k https://t.co/rlgjmjb9kP
  • Nasdaq 100 Retreats as Coinbase Falls, May Cast a Shadow on Hang Seng and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/04/15/Nasdaq-100-Retreats-as-Coinbase-Falls-May-Cast-a-Shadow-on-Hang-Seng-and-ASX-200-.html https://t.co/ZvcDnwXQ4e
  • PBOC Conducts 150 billion Yuan of 1-year MLF at 2.95% - rolls over earlier MLF, TMLF with 150 billion Yuan MLF operations - BBG $USDCNH
  • 🇦🇺 Full Time Employment Chg (MAR) Actual: -20.8K Previous: 89.1K https://www.dailyfx.com/economic-calendar#2021-04-15
AUD/USD Stages Larger Rebound While Retail Shorts Jump 32%

AUD/USD Stages Larger Rebound While Retail Shorts Jump 32%

David Song, Strategist

Australian Dollar Talking Points

AUD/USD initiates a fresh series of higher highs & lows as it breaks out of a narrow range, and the pair appears to on the cusp of a larger recovery as market sentiment improves.

Image of daily change for major currencies

AUD/USD Stages Larger Rebound While Retail Shorts Jump 38%

Image of daily change for AUDUSD

The recent advance in global benchmark equity indices instills a constructive outlook for AUD/USD as it points to a pickup in risk-taking behavior, and the shift in market sentiment may influence the exchange rate over the coming days as the economic docket remains fairly light until the Reserve Bank of Australia (RBA) releases the monetary policy meeting minutes on July 17.

Keep in mind, recent comments from the RBA suggest the central bank is in no rush to implement higher borrowing-costs as ‘the low level of interest rates is continuing to support the Australian economy,’ and more of the same from Governor Philip Lowe & Co. may produce headwinds for the Australian dollar as officials tame expectations for an imminent rate-hike.

Image of IG Client Sentiment for AUDUSD

At the same time, the IG Client Sentiment Report highlights an interesting dynamic as the number of traders net-long AUD/USD is 5.9% lower than yesterday and 20.5% lower from last week, while the number of traders net-short is 6.8% higher than yesterday and 38.3% higher from last week. The sharp swing in retail positioning suggests the crowd was attempting to trade the recent range in AUD/USD, with the break of the monthly opening range raising the risk for a larger rebound in the exchange rate as it carves a fresh series of higher highs & lows.

AUD/USD Daily Chart

Image of AUDUSD daily chart
  • Broader outlook for AUD/USD remains tilted to the downside as the pair continues to track the downward trend from earlier this year, with the Relative Strength Index (RSI) highlighting a similar dynamic.
  • However, recent developments warn of a larger rebound as aussie-dollar breaks out of the short-term range following the failed attempts to close below the 0.7320 (50% expansion) to 0.7340 (61.8% retracement) region, with the pair at risk of extending the rebound from the month-low (0.7311) as a bullish sequence unfolds.
  • Next area of interest comes in around 0.7500 (50% retracement) to 0.7530 (38.2% expansion) followed by the 0.7590 (100% expansion) hurdle, which largely lines up with trendline resistance.

Interested in having a broader discussion on current market themes? Sign up and join DailyFX Currency Analyst David Song LIVE for an opportunity to discuss potential trade setups!

Image of DailyFX economic calendar

Additional Trading Resources

Are you looking to improve your trading approach? Review the ‘Traits of a Successful Trader’ series on how to effectively use leverage along with other best practices that any trader can follow.

Want to know what other currency pairs the DailyFX team is watching? Download and review the Top Trading Opportunities for 2018.

--- Written by David Song, Currency Analyst

Follow me on Twitter at @DavidJSong.

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

DISCLOSURES