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
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
More View more
Real Time News
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:https://t.co/eq1YkOa3mC https://t.co/V6h8BjyeGa
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link: https://t.co/wWFnbAwIDO https://t.co/6G…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/17/US-Dollar-Price-Action-Setups-pre-FOMC-EURUSD-EUR-USD-GBP-USD-GBPUSD-USD-CAD-USDCAD.html https://t.co/J25MYsXCa9
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:https://t.co/2CDNZh2a89 https://t.co/bULXuCaHKk
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average... https://t.co/R9LQAuL2DL
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield https://t.co/uZBzJ7yiXf
Australian Dollar Analysis: AUD/JPY, AUD/NZD, AUD/CAD Trends and Reversals

Australian Dollar Analysis: AUD/JPY, AUD/NZD, AUD/CAD Trends and Reversals

Daniel McCarthy,

AUD/JPY, AUD/NZD, AUD/CAD - Talking Points

  • AUD/JPY and AUD/CAD have overcome some resistance levels, more ahead
  • AUD/NZD remains in descending channel, continuing to make new lows
  • Overall, the AUD crosses have had big moves lower from May, will they turn around?

AUD/JPY – Technical Analysis

The AUD/JPY has stalled on its recent rally as it failed to break through the 200-day simple moving average (SMA) at 82.03 last week. That level is now a potential resistance point as it failed again 2 days later to go higher.

Above that level is further possible resistance at the 61.8% Fibonacci retracement level of 82.79, calculated from the May high of 85.81 to the August low at 77.90. This retracement level closely coincides with a previous high at 82.82. Further resistance may lie at the previous highs of 84.26 and 85.81.

Immediate support may be provided at the 21-day SMA of 80.34 and at the previous low of 77.90.

AUD/JPY

Chart created in TradingView

AUD/NZD – Technical Analysis

The AUD/NZD remains in a descending channel and there are several trendlines with a negative gradient. In late August, the cross made a new low for the year when it broke through the previous low of 1.0418.

Trendline support, currently at 1.0310, may lend some potential for a turn higher, and a break below that level could suggest an acceleration in the down move.

On the topside, there are a number of levels that might offer resistance at the previous highs of 1.0454, 1.0542 and 1.0621. Should AUD/NZD move back above the 21-day SMA of 1.0412, it may suggest a pause in the downtrend.

AUD/NZD

Chart created in TradingView

AUD/CAD – Technical Analysis

At the beginning of this month, the AUD/CAD managed to break up through a previous high of 0.9234 and trendline resistance before progressing to move above the 100-day SMA. As a result of this recent run higher, the 21-day SMA has turned to a positive gradient.

The next potential resistance levels are at the recent top of 0.9377 and the previous high at 0.9420. Beyond those points, there is a pivot point reversal at 0.9451 that may offer resistance.

On the downside, 0.9234 has now become a pivot point to watch while the new low of the year at 0.9114 may provide some support.

AUD/CAD

Chart created in TradingView

--- Written by Daniel McCarthy, Strategist for DailyFX.com

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

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

DISCLOSURES