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

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • Heads Up:🇯🇵 Machinery Orders YoY (FEB) due at 23:50 GMT (15min) Expected: 2.3% Previous: 1.5%
  • 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:
  • 🇰🇷 Unemployment Rate (MAR) Actual: 3.9% Previous: 4%
  • RT @RiskReversal: This week on @macrosetup from @IG_US, @GuyAdami & I take a look under the hood of the $SPX & $NDX at all time highs as mi…
  • Heads Up:🇰🇷 Unemployment Rate (MAR) due at 23:00 GMT (15min) Previous: 4%
  • Hello Traders! Apologies for the last-minute change in scheduling, but I will be hosting my biweekly webinar an hour earlier than normal Please join the session below, starting in about 20 minutes I will be covering the #Yen and Swiss #Franc around retail trader positioning!
  • Please join @ddubrovskyFX at 19:00 EST/23:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here:
  • Top event risk for the next 24 hours according to what I think generates actual market movement: Earnings (GM, JPM, BBBY); CB speak from Powell, Lagarde, Kuroda; US Senate Foreign Relations Committee meeting on Chinese policy. Missing anything important?
  • The USD was flat against SGD, THB, IDR and PHP as falling Treasury yields offset potential gains from Emerging Market Stock declines. Ahead, all eyes are on Chinese GDP, US CPI, Powell and the MAS. Get your $USD market update from @ddubrovskyFX here:
  • RT @BrendanFaganFx: Grab SPAC Set to Take Markets by Storm, After Commanding $40 Billion Valuation Link:
Australian Dollar Technical Forecast: AUD/USD & AUD/NZD Eyes Critical Support

Australian Dollar Technical Forecast: AUD/USD & AUD/NZD Eyes Critical Support

Justin McQueen, Analyst

AUD Analysis and Talking Points

  • AUD/USD | 0.6700 Likely to Underpin
  • AUD/NZD | Reversal Eyes Crucial Support

AUD/USD | 0.6700 Likely to Underpin

Having rejected trendline resistance and falling short of testing the 200DMA, AUD/USD saw notable pullback from its recent highs, break below both the 100 and 50DMA. Consequently, momentum indicators are tilted to the downside as the bearish DMI remains elevated, although this has eased slightly, which in turn suggests that further selling may begin to slowdown. As such, we look towards 0.6750 as an area of support for AUD/USD with larger bids likely to stem from the psychological 0.6700 handle. Given that there is little on the Australian economic schedule, external factors pertaining to the US-China phase 1 agreement will likely dictate price action in the pair. On the topside, resistance is situated at 0.6815 (50DMA) and 0.6840 (100DMA)

AUD/USD Price Chart: Daily Time Frame (Nov 2018Nov 2019)

Australian Dollar Technical Forecast: AUD/USD & AUD/NZD Eyes Critical Support

AUD/NZD | Reversal Eyes Crucial Support

Last week, we highlighted that risk-reward favoured a pullback in AUD/NZD given that the upside in the cross appeared to be exhausted. Following the RBNZ’s surprise decision to maintain interest rates at 1.00%, the cross saw a sharp reversal, dropping over 200pips. However, AUD/NZD is now facing its first key test on the downside with the 100DMA residing at 1.062, a level the cross has not closed below since August, while the 200DMA is situated at 1.0562. Alongside this, the bearish DMI looks to be topping out at 30, which is a level that the indicator has rarely been able to consolidate above, which raises the prospect of a potential reprieve in the cross. That said, with the RBNZ on a temporary halt and Australian data (labour market) continuing to disappoint, interest rate differentials are signalling a move towards 1.05.

AUD/NZD Price Chart: Daily Time Frame (Nov 18Nov 19)

Australian Dollar Technical Forecast: AUD/USD & AUD/NZD Eyes Critical Support


Australian Dollar Technical Forecast: AUD/USD, AUD/NZD Risks Reversal

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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