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
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • RT @macrodesiac_: If you know you know. https://t.co/W2LYqathr5
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -1.45% Wall Street: -1.78% FTSE 100: -3.03% France 40: -3.10% Germany 30: -3.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Yt3BFBNgjZ
  • ECB's Lagarde says Euro appreciation places downward pressure on prices, adds that the ECB are attentive to the Euro's appreciation $EUR
  • Italy regional vote - Exit poll sees centre left narrowly ahead of right in Tuscany vote
  • ECB's Lagarde says the ECB will open consultation on digital Euro within days
  • US President Trump says in regard to TikTok that China must give up on control or no deal
  • 🇨🇦 New Housing Price Index YoY (AUG) Actual: 2.1% Previous: 1.7% https://www.dailyfx.com/economic-calendar#2020-09-21
  • 🇺🇸 Chicago Fed National Activity Index (AUG) Actual: 0.79 Expected: 1.95 Previous: 1.18 https://www.dailyfx.com/economic-calendar#2020-09-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.77%, while traders in NZD/USD are at opposite extremes with 72.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/LGODzLXvvD
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the week! https://t.co/chKtG7waxH
AUD/USD Bulls in Doubt as Dragonfly Doji Forms on Daily

AUD/USD Bulls in Doubt as Dragonfly Doji Forms on Daily

2014-05-05 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Dragonfly Doji highlights trader indecision below 0.9300
  • Range persists between 0.9210 and 0.9300

The Aussie is teasing traders near the critical 0.9300 handle after prices bounced off support near 0.9210, which resulted in a Dragonfly Dojiformation on the daily. While considered a sign of hesitation from traders, we likely need to clear 0.9300 before the bulls look to firm their grip on prices.

AUD/USD: Keeps Traders In Suspense Sub 0.9300

AUD/USD Bulls in Doubt as Dragonfly Doji Forms on Daily

Daily Chart - Created Using FXCM Marketscope 2.0

The significance of the 0.9300 handle is made further evident by an examination of intraday price action, with several long wicks forming near the critical level. AShooting Star formation suggests sellers are still intent on keeping pressure on the currency.

AUD/USD: Selling Pressure Remains At 0.9300

AUD/USD Bulls in Doubt as Dragonfly Doji Forms on Daily

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, DailyFX

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