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
EUR/USD
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/ITdDUGoAL0
  • 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: https://t.co/QszmdZFxlk https://t.co/eF0XS79LgK
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/gaYbbaTnpb
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/HCvzbjEkr6
  • Get our analysts’ view on the key fundamentals for indices in Q2. Download now. https://t.co/Etdyanp76f https://t.co/n2wxfyMsJt
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/5KaUvfGM4I
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/9Bjkh5413e
  • 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: https://t.co/BdgFmkRxVw https://t.co/FqAsp91Gia
  • 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/cKOUmtj7Dj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
AUD/USD Rebounds Above Critical Resistance

AUD/USD Rebounds Above Critical Resistance

Walker England, Forex Trading Instructor

Talking Points:

The AUD/USD continues to rebound from weekly lows, and is now trading back above its 200 day MVA (simple moving average) at .7547. This rebound should be seen as technically significant as this move suggests that the pair may be preparing to trend higher in the long. It should be noted that the AUD/USD is also trading back abo above its short term 10 day EMA (exponential moving average) at .7551.

With the trend pointed higher, traders should next look for the AUD/USD to potentially challenge the March 29th high at .7675. A move beyond this value exposed the standing 2017 high at .7749. In the event that the AUD/USD again turns lower, traders should first look for the pair to trade back below its 10 day EMA. A move below .7551 would suggest a change in the short term trend, allowing traders to again target new weekly lows under .74373.

AUD/USD, Daily Chart with Averages

AUD/USD Rebounds Above Critical Resistance

(Created Using IG Charts)

Current sentiment totals for the AUD/USD remain negative, with IG Client Sentiment currently reading at -1.33. This value has increased in recent sessions, but has failed so far to reach extremes with only 57% of traders short the currency pair. In the event that the AUD/USD continues to trend higher, traders may look for these sentiment totals to move towards negative extremes of -2.0 or more. Alternatively, if the pair reverse back towards weekly lows, traders may look for IG Client Sentiment to normalize and potentially flip back to a positive reading.

Want to learn more about trading with market sentiment? Get ourFree guide here.

AUD/USD Rebounds Above Critical Resistance

--- Written by Walker, Analyst for DailyFX.com

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES