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.

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
Bullish
Oil - US Crude
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
Wall Street
Bullish
Gold
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
More View more
Real Time News
  • Another mega day for $X +6.7% 👀 Gains push the stock to it's highest level since November 2018 https://t.co/4zWoER2nQN
  • Cryptos trade over the weekend unlike most other exchange-based markets. That along with Elon Musk's frequent social media references to Bitcoin and Dogecoin these past months have made his Saturday Night Live appearance an unusual 'market event'
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.22%, while traders in Wall Street are at opposite extremes with 76.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/R9t6Kv2kSj
  • Hey traders! Wrap up your week with a market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/5NV5FVwRMa
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.87% Oil - US Crude: 0.43% Silver: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/QCTA4RlZ6I
  • Dogecoin could be teed up for volatility with the crypto likely to get a shoutout on SNL. Get your #fintwit update from @RichDvorakFX here:https://t.co/mew2O1TyCY https://t.co/AlWnzOmnaP
  • UK to reopen for travel from 17 May -BBG $GBP $GBPUSD $EURGBP
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.83% 🇪🇺EUR: 0.74% 🇬🇧GBP: 0.69% 🇨🇭CHF: 0.61% 🇯🇵JPY: 0.44% 🇨🇦CAD: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YlMRk2x0d4
  • 🇷🇺 Inflation Rate YoY (APR) Actual: 5.5% Expected: 5.5% Previous: 5.8% https://www.dailyfx.com/economic-calendar#2021-05-07
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.82% Wall Street: 0.50% Germany 30: 0.14% France 40: 0.12% FTSE 100: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6VsREZeMBF
Australian Dollar Pressures 2009 Lows on USD, JPY. GBP Breaks Out?

Australian Dollar Pressures 2009 Lows on USD, JPY. GBP Breaks Out?

Daniel Dubrovsky, Strategist

AUD/USD, AUD/JPY, GBP/AUD Technical Forecast

  • Australian Dollar consolidation keeps defining its technical progress
  • Both AUD/USD and AUD/JPY are pressuring lows last seen in 2009
  • Meaningful upside progress has been made in GBP/AUD, will it last?

Build confidence in your own Australian Dollar trading strategy with the help of our free guide!

AUD/USD Technical Outlook - Neutral

The Australian Dollar continues to pressure lows last seen since March 2009 against the US Dollar. Positive RSI divergence still undermines its downside progress as it shows fading downward momentum. Lately, the pro-risk currency has been torn between the Federal Reserve outlook and US-China trade wars as it is on the brink of resuming this year’s dominant downtrend.

The March 2009 low around 0.6744 has been reinforced as support since the beginning of this month with the Aussie trading mostly in a narrow range. This does set AUD/USD up for a meaningful downside breakout that exposes 0.6708. Still, the positive RSI divergence can precede a turn higher towards resistance at 0.6827 – 0.6865 if not translate into consolidation. So far, it has been the latter.

AUD/USD Daily Chart

AUDUSD Daily Price Chart

Chart created in TradingView

AUD/JPYTechnical Outlook - Neutral

A near-identical story has been unfolding in AUD/JPY. Against the Japanese Yen, the Australian Dollar has been in persistent consolidation as it pressures lows last seen in 2009. Positive RSI divergence is also present here, potentially paving the way for an upside push towards resistance at 72.89. A breakout to the downside, with technical confirmation, exposes the next area of support at 69.50.

AUD/JPY Daily Chart

AUDJPY Daily Price Chart

Chart created in TradingView

GBP/AUDTechnical Outlook – Bullish

For meaningful technical progress seen last week from Aussie crosses, look no further than GBP/AUD. The British Pound has made an upside push against the Australian Dollar after closing above former support-turned-resistance between 1.8100 and 1.8152. This has exposed the next range of resistance between 1.8367 and 1.8423. Another close higher may offer that technical confirmation that paves the way for more gains.

GBP/AUD Daily Chart

GBPAUD Daily Price Chart

Chart created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES