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
Bullish
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
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Why has every technical analyst heard of RSI? The relative strength index is a momentum oscillator that measures speed and change of price movements. Read here to find out how you can better incorporate RSI into your trading strategy or technical analysis: https://t.co/1UzaSzjtwh https://t.co/7FZ53xADOZ
  • A number of macro items took attention away from the British #Pound, but the backdrop appears set for potential in $EURGBP, $GBPJPY and perhaps even $GBPCHF. Get your $GBP technical analysis from @JStanleyFX here: https://t.co/hgdFTSOdmT https://t.co/9ZrFZAExdp
  • RT @GlobalTimesBiz: After more than two weeks of #China’s efforts to resume business activities, only 30 percent of migrant workers has ret…
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here:https://t.co/1oeXWEsJkb https://t.co/c5YVgs5YKD
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/z49NzgZrXd
  • RT @malkudsi: Natural Gas Eyes Pushing Higher as Support Holds - Nat Gas Technical Analysis More details in the link below: https://t.co/HG…
  • As prices dance around on charts, traders are often looking for reasons to explain price movements; however, the underlying source of price movement boils down to the relationship between supply and demand. Learn more about the forces of S&D on forex here: https://t.co/8LfkLXbj2W https://t.co/swcuwAMGAk
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/4adyTWvQ22
  • What are the Market cycles? How are #currencies impacted in these cycles? How can these cycles impact #forextrading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/gLJGj1FAOC
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/J0MMkVmCUu
AUD/USD Classical Technical Report 12.05

AUD/USD Classical Technical Report 12.05

2011-12-05 06:31:00
Joel Kruger, Technical Strategist
Share:
Daily_Classical_AUDUSD_body_aud2.png, AUD/USD Classical Technical Report 12.05

AUD/USD: Any rallies are classified as corrective and we continue to see this market in the process of carving out a major top ahead of the next downside extension back below the critical lows from October at 0.9385. The market has been locked in some consolidation over the past several sessions and from here, 1.0330 and 1.0150 will be the key levels to watch above and below. A break back above 1.0330 will open the door for additional corrective moves potentially into the 1.0500’s before the market eventually stalls out, while a daily close back under 1.0150 will signal a potential end to the latest correction and open a drop back below parity.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.