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
Mixed
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Indonesia authorizes AstraZeneca Covid vaccine for emergency use - BBG
  • Australian Dollar Price Forecast: AUD/USD, AUD/JPY, AUD/NZD - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2021/03/09/Australian-Dollar-Price-Forecast-AUDUSD-AUDJPY-AUDNZD.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDUSD $AUDJPY $AUDNZD https://t.co/4hT1cw12eh
  • China's CSI 300 recovers losses following reports that state-backed funds 'national team' will be used to purchase equities - BBG https://t.co/ehmKf0WFgH
  • A DB survey supposedly found that half of those that responded between the ages of 25 and 34 intend to use 50% of stimulus funds they receive on stock market investment! Sample size of only 430 retail investors but c'mon.
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/CogcdDMLHv
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 1.07% Oil - US Crude: 0.74% Gold: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OYlPeDynh9
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.15% 🇦🇺AUD: 0.15% 🇪🇺EUR: 0.15% 🇳🇿NZD: 0.11% 🇨🇭CHF: 0.08% 🇯🇵JPY: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/C1NBpD8tLa
  • China state funds said to buy stocks after plunge escalated -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.59%, while traders in Germany 30 are at opposite extremes with 83.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/syFy1j9agh
  • $CADJPY has exploded higher after breaching Ascending Triangle resistance and powering through the 200-week moving average. The pattern's implied measured move suggests price could climb an additional 4% from current levels to challenge psychological resistance at 90.00 $CAD https://t.co/sCP0pq1g1V https://t.co/NFIRL3E9ZN
AUD/USD Corrective Bounce Or Sustained Recovery?

AUD/USD Corrective Bounce Or Sustained Recovery?

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Harami Offers Bullish Reversal Signal Near 0.9320
  • H4 Demonstrates Absence of Key Bearish Patterns

The Australian Dollar threatens a push towards its range-top near 0.9440 following a Harami formation on the daily. However, some skepticism for a sustained recovery may be warranted by a Doji forming in intraday trade (indicating hesitation by the bulls). This suggests the recent recovery may be little more than a corrective bounce at this point.

AUD/USD: Sustained Recovery Questionable

AUD/USD Corrective Bounce Or Sustained Recovery?

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart below reveals some hesitation by traders during the Asian session (denoted by a Doji candlestick near 0.9330). However, the pair has yet to see a bearish reversal pattern emerge, which would warn of a correction. Further gains would likely be met by selling pressure at the 0.9360 mark.

AUD/USD: Bulls Hesitate Near 0.9320/0.9330

AUD/USD Corrective Bounce Or Sustained Recovery?

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

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