Skip to content
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
More View more
Australian Dollar Technical Outlook: AUD/USD Flirting with March Trend-line Break

Australian Dollar Technical Outlook: AUD/USD Flirting with March Trend-line Break

Paul Robinson, Strategist

AUD/USD Technical Outlook

  • AUD/USD trying to hold onto the March trend-line
  • Bull-flag could come to fruition with a little more time
  • Overall, bias is based on the trend-line, pattern development
Advertisement

AUD/USD trying to hold the March trend-line

AUD/USD is doing its best to hold onto the March trend-line, a threshold that many markets have been nearing lately. A breakdown of the trend-line doesn’t necessarily turn the outlook bearish, but would undermine the developing bull-flag pattern.

The pattern has been forming for a month, and with a little more time it could trigger by seeing price cross above the upper parallel. A breakout could set into motion a push above 7820 and may drive price closer to the Jan ’18 swing-high at 8140.

At the moment, the March trend-line may offer a good risk/reward spot for would-be longs, with a break of the bull-flag adding to a bullish bias. A break below the March trend-line turns things mildly bearish, with the September high at 7413 the next major swing level to watch as support.

USD Forecast
USD Forecast
Recommended by Paul Robinson
Check out the Q1 USD Forecast
Get My Guide

AUD/USD Daily Chart (trying to hold March trend-line)

AUD/USD Daily Chart

AUD/USD 4-hr Chart (bull-flag forming)

AUD/USD 4-Hour Chart

AUD/USD Charts by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES