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Weekly Fundamental US Dollar Forecast: Here Comes Taper Talk
2021-06-12 12:00:00
EUR/USD June Open Range Vulnerable as ECB Sticks to Higher PEPP
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2021-06-11 20:00:00
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Weekly Fundamental US Dollar Forecast: Here Comes Taper Talk
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2021-06-12 02:00:00
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Weekly Fundamental US Dollar Forecast: Here Comes Taper Talk
2021-06-12 12:00:00
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
2021-06-10 19:00:00
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Australian Dollar Rally Stalls at Channel

Australian Dollar Rally Stalls at Channel

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Rally Stalls at Channel

Prepared by Jamie Saettele, CMT

The AUDUSD declined into the US open before reversing to end the day down .5%. Interestingly, the .5% decline is the second largest daily decline for January (behind 1/5). It is too early to say with confidence that a larger correction of the bull move from the December low is complete but reward/risk favors the downside towards the confluence of the 20 day average, 200 day average and channel support at 10410/25. Exceeding 10653 would shift focus to the October high at 10752.

Bottom Line – flat

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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