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. See our updated Privacy Policy here.



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
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
  • $USDCAD taking on a new life now, back above the longer-term trendline +370 from the failed breakout earlier this month
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.03% 🇪🇺EUR: -0.07% 🇨🇦CAD: -0.13% 🇬🇧GBP: -0.41% 🇦🇺AUD: -0.49% 🇳🇿NZD: -0.54% View the performance of all markets via
  • Heads Up:🇨🇦 New Housing Price Index YoY (MAY) due at 12:30 GMT (15min) Previous: 9.9%
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • Heads Up:🇮🇳 Monetary Policy Meeting Minutes due at 11:30 GMT (15min)
  • Italy PM Draghi states that more stimulus is needed to return to pre-covid - must be vigilant on inflation expectations
  • China's Cabinet will grant subsidy to farmers - state media
  • ECB extends leverage ratio to banks until March 2022
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 84.85%, while traders in France 40 are at opposite extremes with 75.76%. See the summary chart below and full details and charts on DailyFX:
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 | Lacking Direction

The Australian Dollar has seen a rather calm week of trading with AUD/USD trading in sideways fashion. As it stands, the 0.70 handle continues to keep further upside in the pair at bay in light of the recent stalling across the equity space. While progress in regards to possible COVID-19 vaccines has helped keep risk sentiment firm, the continued rise in virus cases in Southern US states provides investors with plenty of reasons to remain cautious. The key concern being a more widespread shutdown of US states, which could place the US recovery on halt, thus weighing on high beta currencies, most notably the AUD and NZD.

AUD/USD & AUD/JPY Testing Resistance

As we look to next week, there is little in the way of notable highlights for Australia, as such, external factors will likely be the key driver for the Australian Dollar. The key areas of interest for the AUDUSD and AUDJPY is at 0.7000 and 75.00, respectively. That said, while the Aussie is vulnerable to pullbacks, downside in AUDUSD is likely to meet demand from 0.6900-0.6920 in the absence of material drop in risk appetite.

Australian Dollar Technical Outlook

Implied Weekly Range: 0.6900-0.7070










Weekly High


50% Fib


2020 High

AUD/USD Price Chart: Daily 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.