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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
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
AUDUSD: Sellers Threaten Multi-Year Support

AUDUSD: Sellers Threaten Multi-Year Support

Ilya Spivak, Head Strategist, APAC

Strategy: Pending Short

AUDUSD is testing major support a rising trend line set from late May 2010 now at 1.0138, a barrier reinforced by the 50% Fibonacci expansion at 1.0159. We will look for a daily close below this level to mark a major bearish trend reversal and position for a selling opportunity. Near-term resistance lines up at 1.0232, the 38.2% expansion.

AUDUSD_Sellers_Threaten_Multi-Year_Support_body_Picture_5.png, AUDUSD: Sellers Threaten Multi-Year Support

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES