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.

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
More View more
AUD/USD Compression Continues As Candlesticks Indicate Indecision

AUD/USD Compression Continues As Candlesticks Indicate Indecision

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • Limited Follow-Through For Candlesticks On The Daily
  • Awaiting Break From 0.8660 to 0.8900 Trading Range

AUD/USD remains trapped within its narrow trading band between 0.8660 and 0.8885 with an ensemble of Dojis evident on the daily. The candlestick formations indicate indecision from traders and leave a more constructive setup desired to offer a clearer technical bias.

AUD/USD: Awaiting Break From Range As Intraday Swings Continue

AUD/USD Compression Continues As Candlesticks Indicate Indecision

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

Choppy trading conditions on the four hour chart have given rise to several candlestick formations. Yet follow-through remains lacking. This leaves a more constructive setup desired for playing the pair.

AUD/USD: Price Compression Continues

AUD/USD Compression Continues As Candlesticks Indicate Indecision

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