Skip to content
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 Eyes 0.8660 Floor With Bullish Reversal Signals Lacking

AUD/USD Eyes 0.8660 Floor With Bullish Reversal Signals Lacking

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Absence Of Bullish Signals Casts Immediate Risks Lower
  • H4 Offered Early Warning In The Form of An Evening Star

AUD/USD has resumed its descent with a void of bullish candlestick reversal patterns leaving a revisit of the 0.8660 floor on the cards. However, traders should note a sizeable weekend gap has been left in its wake, which may be filled before the journey lower continues. Shorts remain preferred with a daily close above the 0.8885 ceiling required to negate a bearish technical bias.

AUD/USD: Eyes On 0.8660 Amid Void Of Bullish Reversal Signals

AUD/USD Eyes 0.8660 Floor With Bullish Reversal Signals Lacking

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

The four hour chart offered an early warning sign of an intraday retreat for the Aussie. An Evening Star formation suggested the bears were preparing an assault on the pair. With bullish signals now seemingly lacking a recovery over the session ahead is questionable. A break below intraday support at 0.8735 would be required to open the next leg lower to 0.8660.

AUD/USD: Evening Star Offered An Early Warning For A Pullback

AUD/USD Eyes 0.8660 Floor With Bullish Reversal Signals Lacking

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