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
Oil - US Crude
Bearish
Wall Street
Mixed
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
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • $EURUSD sell-off pulls back to resistance around prior support. Big zone 1.2134-1.2167 https://t.co/RJDRdNEbWN https://t.co/WqyA0OUN0L
  • Merkel reaches deal to extend German lockdown until February 14th. $EUR
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.05% Silver: 0.27% Gold: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/6BlhZ5UJh5
  • US Indices strongly up in morning trading as markets await Yellen hearing. DOW +0.36% NDX +0.88% SPX +0.54% RUT +1.22% $DOW $QQQ $SPY $IWM
  • GDT Price index rising 4.8% with Whole Milk Powder prices up 2.2% $NZD https://t.co/BSgYGGG4fw
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in AUD/JPY are at opposite extremes with 64.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qH8g9T8HFG
  • #oott https://t.co/fStDL8emvE
  • The US have switched off telephone lines to Russia's NY consulate - RIA $RUB
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.90% Silver: 0.75% Gold: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/95TqbyVQKI
  • Heads Up:🇺🇸 Treasury Secretary Yellen Senate Confirmation Hearing due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-19
Australian Dollar Forecast: Key AUD/USD Levels to Watch

Australian Dollar Forecast: Key AUD/USD Levels to Watch

Justin McQueen, Analyst

Australian Dollar Analysis and Talking Points

AUD/USD | RBA Beginning to Talk Down Currency

The Australian Dollar has largely been in consolidation mode against the greenback since hitting a fresh 2020 high above 0.7000 at the back end of last week. In recent weeks, the AUD has predominantly tracked equity markets, which in turn has seen a sizeable recovery in the currency since the March lows. However, upside could be capped at the 0.7000 level, particularly with the RBA beginning to jawbone the currency with RBA’s Harper noting that a rate back above 0.7000 would be unhelpful. That said, as uncertainties over a second wave pick up, most notably in China, AUD/USD may come under renewed pressure with a closing break below 0.6800 to open up a move towards 0.6650.

AUD/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 12% 3% 7%
Weekly 24% -5% 8%
Learn how to use Sentiment in your trading strategy
Get My Guide

Although, in the absence of a fresh negative catalyst with equity markets continuing to recover, we do not rule out a possible retest of the 2020 high at 0.7061, which would likely negate a near-term bearish bias.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Justin McQueen
Trading Forex News: The Strategy
Get My Guide

Implied Weekly range (0.6750 - 0.6990)

Support

Resistance

0.6820

50% Fib

0.6900

-

0.6775

June 15th low

0.7000

-

0.6665

200DMA

0.7061

2020 High

AUD/USD Price Chart: Weekly Time Frame

Australian Dollar Forecast: Key AUD/USD Levels to Watch

Source: IG Charts

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES