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
Real Time News
  • Heads Up:🇹🇭 Balance of Trade (AUG) due at 03:30 GMT (15min) Expected: $0.97B Previous: $0.18B https://www.dailyfx.com/economic-calendar#2021-09-23
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/TzoInyMAQR
  • Evergrande shares jump as much as 32%, with over 240 million shares traded -BBG
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/F8psKaw1dB
  • PBOC injects net 110b Yuan in open market operations -BBG
  • RT @BrendanFaganFx: Hang Seng, ASX 200 May See Relief After Fed. Evergrande Set for Restructuring? #Evergrande #HangSeng #FOMC Link: http…
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:https://t.co/MrLGSp7FYa https://t.co/m42Rdv39Dx
  • Chinese estates' Evergrande loss assumes all shares sold -BBG #Evergrande
  • RT @FxWestwater: Australian Dollar Fights FOMC-Charged US Dollar After Upbeat PMI Data Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/22/Australian-Dollar-Fights-FOMC-Charged-US-Dollar-After-Upbeat-PMI-Data.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $AUDUSD https://t.co…
  • Heads Up:🇯🇵 Foreign Bond Investment (18/SEP) due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-22
Forex Strategy: AUD/USD Vaults Above Range-Top At 0.9300

Forex Strategy: AUD/USD Vaults Above Range-Top At 0.9300

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Longs Preferred
  • Breakout from recent consolidation looms
  • Pushabove 0.9300 may open advance to 0.9440

The Aussie has staged an upside breakout in late Asian trading as bulls push prices above the critical 0.9300 handle. At this stage a bearish reversal signal is missing on both the daily and four hour time frames, which suggests the potential for an extended advance towards 0.9440.

AUD/USD: Bulls Take Charge As Prices Push Above 0.9300

Forex-Strategy-AUDUSD-Vaults-Above-Range-Top-At-0.9300_body_Picture_2.png, Forex Strategy: AUD/USD Vaults Above Range-Top At 0.9300

Daily Chart - Created Using FXCM Marketscope 2.0

A look at intraday price action on the four hour chart reveals that the upside breakout was preceded by a drawn-out struggle between traders between 0.9210 and 0.9300. With the bulls having won out and a reversal signal lacking, further gains are on the table.

AUD/USD: Vaults Above Recent Range

Forex-Strategy-AUDUSD-Vaults-Above-Range-Top-At-0.9300_body_Picture_1.png, Forex Strategy: AUD/USD Vaults Above Range-Top At 0.9300

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, FXCM

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here

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

DISCLOSURES