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.

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
Wall Street
Bearish
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
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/IRS9MaA7h8
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/CHF/2021/09/18/Gold-Price-Outlook-Hinges-on-Fed-Rate-Decision-Forward-Guidance.html https://t.co/dWWxtErjK0
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/4qxwiJsV1K
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/stMPuq0VXR
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/FVisZuTP6M
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here: https://t.co/H1BaTlIHjY https://t.co/zP3mjfslSD
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Of1thU4zXw
AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

Justin McQueen, Strategist

AUD Analysis and Talking Points

  • AUDUSD | Beware of Exhaustion
  • AUDJPY | Key Fibo May Come into Focus
  • AUDNZD | Crucial Support Curbing Further Losses

See our Q1 FX forecast to learn what will drive the currency throughout the rest of the year.

AUDUSD | Beware of Exhaustion

AUDUSD has made a break below both the 100 and 50DMAs. Eyes will be on a for a close below, which could potential raise the scope for a test of the 23.6% Fibo level (0.7067). Naturally, key support for bears to chase is at 0.7000. Momentum indicators however, offer caution to chasing AUD lower on what could already be an exhausted move. While signals remain bearish, the strength of the trend has eased slightly. Resistance situated around 0.7165-70.

AUDUSD PRICE CHART: Daily Time Frame (Dec 2017 – Feb 2019)

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

Chart by IG

AUDJPY | Key Fibo May Come into Focus

AUDJPY has made a decisive break through the 50DMA (78.60), however, support at 0.7800 has held for now. A break below would see the key 50% Fibo come into focus (77.65). Momentum indicators have shifted from neutral to bearish, although trend signals have weakened, consequently suggesting that the cross may remain in the 77.50-80.00 range.

AUDJPY PRICE CHART: Daily Time Frame (Oct 2018– Feb 2019)

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

Chart by IG

AUDNZD | Crucial Support Curbing Further Losses

AUDNZD is trading at the lowest level since the Jan 3rd flash crash and now situated at crucial support (1.0400) which has curbed further downside. Momentum indicators are becoming increasingly bearish. As such, a break below 1.0400 could see a move towards 1.0350. However, given the size of the move in recent months (1.10 to 1.04) there is a risk of a pullback, with 1.06 the pivotal target.

AUDNZD PRICE CHART: Daily Time Frame (Jun 2018 – Feb 2019)

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

Chart by IG

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES