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
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
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
AUD/USD Key Reversal Pattern Leaves Traders In Suspense Near 0.9300

AUD/USD Key Reversal Pattern Leaves Traders In Suspense Near 0.9300

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Hammer formation signals potential for further recovery
  • Key resistance at 0.9300, Support at 0.9200/10 in intraday trade

The Aussie is teasing traders near the critical 0.9300 handle following a return of the bulls near 0.9210. While we’ve seen a Hammer formation emerge on the daily, we need to clear 0.9300 to make a bullish reversal possible.

AUD/USD: Hammer Emerges As Prices Recover

AUD/USD Key Reversal Pattern Leaves Traders In Suspense Near 0.9300

Daily Chart - Created Using FXCM Marketscope 2.0

Similarly, on the four hour chart several Hammer candlesticks suggest that the Australian Dollar bulls remain intent on wrestling control of price action from the bears. However, the significance of the 0.9300 level is made further evident by an examination of intraday price action, with several long wicks forming near the critical level.

AUD/USD: Coiled Like Spring Below 0.9300

AUD/USD Key Reversal Pattern Leaves Traders In Suspense Near 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

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.

DISCLOSURES