Never miss a story from Martin Essex

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Martin Essex

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

AUDUSD price, news and analysis:

  • AUDUSD looks to have broken to the downside and could be heading long-term to levels last seen in January 2016.
  • As the US-China trade dispute continues to affect markets, there are concerns that Australian exports could suffer from any Chinese economic slowdown.

Check out the IG Client Sentiment data to help you trade profitably.

AUDUSD chart bearish

AUDUSD looks to have broken to the downside from a channel that has contained the price for most of this year, suggesting there could be further losses to come.

As the chart below shows, the support line of the downward-sloping channel has now been breached. With the price already under the low set at the end of last year, there is now little support ahead of the lows around 0.6827/28 touched early in 2016.

AUDUSD Price Chart, Daily Timeframe (January 1, 2016 – September 12, 2018)

Latest AUDUSD price chart.

Chart by IG

Meanwhile, to the upside, there is now trendline resistance at 0.7155, from the 20-day moving average at 0.7230 and from the 50-day moving average at 0.7311.

This technical picture is supported by the fundamentals too. Australian exports to China are likely to be hit if the US-China trade dispute damages Chinese economic growth – which is why adverse developments in the row tend to weaken it.

US President Donald Trump said Tuesday that the US was taking a tough stance with China, increasing the possibility that new levies on Chinese exports will be announced soon. His latest comments came after China told the World Trade Organization that it wants to impose $7 billion a year in sanctions on the US in retaliation for non-compliance with a ruling in an earlier trade dispute.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at or on Twitter @MartinSEssex