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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Heads Up:🇺🇸 MBA Mortgage Applications (17/SEP) due at 11:00 GMT (15min)
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • Of note, worth being cautious on the authenticity of this report given the source
  • Sources close to the Chinese Government have told Asia Markets a deal that will see China Evergrande (3333 HK) restructured into three seperate entities is currently being finalised by the Chinese Communist Party and could be announced within days.
  • Shadow MPC as hawkish as ever - They have been calling for the BoE to end QE early since June - Often a big difference in what people think a central bank should do and will do
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • IFO lowers German 2021 GDP growth forecast to 2.5% from 3.3% - Raises 2022 forecast to 5.1% from 4.3%
  • 🇿🇦 Inflation Rate YoY (AUG) Actual: 4.9% Expected: 4.8% Previous: 4.6%
  • 🇹🇼 Unemployment Rate (AUG) Actual: 4.08% Previous: 4.36%
AUD/USD Bounce May Prove Limited As Bearish Signals Dominate

AUD/USD Bounce May Prove Limited As Bearish Signals Dominate

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Bearish Engulfing pattern on the daily remains the dominant pattern
  • Key resistance at 0.9300, Support at 0.9250 in intraday trade

The Bearish Engulfing pattern noted in the most recent candlestick’s report delivered a drop in the AUD/USD as anticipated. While there are signs of a potential bounce on both the daily and four hour chart, we need to clear the psychologically significant 0.9300 handle broken before suggesting a bullish bias for the Australian dollar.

AUD/USD: Morning Star Awaits Close Of 3rd Candle

AUD/USD Bounce May Prove Limited As Bearish Signals Dominate

Daily Chart - Created Using FXCM Marketscope 2.0

The Bullish Engulfing pattern on the four hour chart has prompted an intraday bounce for the Aussie, however the 0.9300 handle remains a critical resistance level, which may act to restrain further gains during the session ahead. If a bearish reversal signal emerges it would be seen as an opportunity to adopt new short positions with an immediate target offered by support at 0.9250.

AUD/USD: Bullish Engulfing Pattern Suggests Buying Support at 0.9250

AUD/USD Bounce May Prove Limited As Bearish Signals Dominate

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

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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