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.

Free Trading Guides
EUR/USD
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
GBP/USD
Bearish
USD/JPY
Mixed
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
Mixed
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
Oil - US Crude
Mixed
Bitcoin
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
More View more
AUD/USD Doji Denotes Deliberation From Traders Near Key Support

AUD/USD Doji Denotes Deliberation From Traders Near Key Support

2014-05-26 07:39:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • 0.9210 mark continues to provide support
  • Traders look past bullish signals in intraday trade

The Australian Dollar bulls remain prepared to support the currency at the 0.9210 mark. While a Doji indicates some hesitation from the bears, a key reversal candlestick pattern remains absent on the daily, which suggests a recovery may be limited.

AUD/USD: Doji Suggests Trader Indecision Near 0.9210

AUD/USD Doji Denotes Deliberation From Traders Near Key Support

Daily Chart - Created Using FXCM Marketscope 2.0

Despite a couple bullish signals near support at 0.9210/3 in intraday trade, a recovery for the Aussie has failed to gain traction. This casts doubt over the potential for a bounce over the session ahead, which would likely be limited by sellers sitting at the 93 US cent handle.

AUD/USD: Recovery Fails To Gain Traction

AUD/USD Doji Denotes Deliberation From Traders Near Key Support

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Currency 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

News & Analysis at your fingertips.