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.

Free Trading Guides
EUR/USD
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
GBP/USD
Bullish
USD/JPY
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
Bearish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Trump says agricultural purchases by China has begun #Tradewar #Corn #Soybean
  • President Trump suggests he may not sign the 'phase one' trade deal with China announced this past Friday until he meets President Xi in Chile at the APEC meeting
  • #EUR: There was a ‘nexus’ of confluence at this zone as a bearish trendline that held the highs in the pair from July into last week intersected with the support side of a bear flag formation.Get your $EUR technical analysis from @JStanleyFX here: https://t.co/DO5rw4aBtA https://t.co/lsWxg43lRC
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.64% Gold: 0.27% Silver: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YT16FlZATs
  • 🇺🇸 (USD) Business Inventories (AUG), Actual: 0.0% Expected: 0.2% Previous: 0.3% https://www.dailyfx.com/calendar?utm_source=Twitter&utm_medium=TweetRobot&utm_campaign=twr
  • 🇺🇸 (USD) NAHB Housing Market Index (OCT), Actual: 71 Expected: 68 Previous: 68 https://www.dailyfx.com/calendar?utm_source=Twitter&utm_medium=TweetRobot&utm_campaign=twr
  • After last week's hiatus, I'll be going live in 50 minutes for my weekly equity webinar. Among other things, we'll discuss #earningsseason and levels to watch for $NFLX ahead of its report later today Join here - https://www.dailyfx.com/webinars/782324475
  • RT @ecb: Speech Philip R. Lane: The economic outlook for the euro area https://t.co/Aa0wKT97OR (slides from the presentation)
  • RT @LiveSquawk: ECB’s Lane: Euro Area Faces More Extended Slowdown https://t.co/0TumxJQWQO
  • Tune in to @PeterHanksFX 's #webinar at 11:00 AM ET/3:00 PM GMT as he discusses levels to watch ahead of the Fed on #DJI & #DAX30. Register here: https://t.co/Rwbt9avERj https://t.co/9tZUtXkyNV
AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

2019-03-04 16:30:00
Justin McQueen, Analyst
Share:

AUD Analysis and Talking Points

  • AUDUSD | Key Support in Focus
  • AUDJPY | Trend Signals Weak, Topside Resistance Holds
  • AUDNZD | Possible Bottom as Key Support Remains Firm

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

AUDUSD | Key Support in Focus

AUDUSD hovering below 0.7100 sees key support at 0.7067, which marks the 23.6% Fibonacci retracement, a move below would see a test of support at 0.7050. DMIs continue to show that the outlook remains tilted to the downside, with rallies in the pair likely to be capped at 0.7150 and 0.7200.

AUDUSD PRICE CHART: Daily Time Frame (Aug 2018 – Mar 2019)

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

Chart by IG

AUDJPY | Trend Signals Weak, Topside Resistance Holds

AUDJPY continues to trade below the 80.00, which keeps the outlook bearish albeit mildly so as momentum indicators ease. Alongside this, trend signals are weak, consequently, implying that AUDJPY may remain relatively range-bound in the near-term. As topside resistance at 79.80-80.00 holds a large pullback could see support at 78.30-50 come into focus.

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

AUD Technical Analysis Overview: AUDUSD, AUDJPY, AUDNZD

Chart by IG

AUDNZD | Possible Bottom as Key Support Remains Firm

Dips below key support at 1.04 has failed to spark further selling in AUDNZD and given that trend signals remain weak, the 1.04 could continue to hold, further suggesting that the cross could have based out at 1.0370. However, while this may have been the case, there is little in the way of tentative signs that the cross will see in notable recovery. Topside resistance resides at 1.05, which marks the 50DMA.

AUDNZD PRICE CHART: Daily Time Frame (Jul 2018 – Mar 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

News & Analysis at your fingertips.