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
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
Wall Street
Bearish
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.00% 🇨🇭CHF: -0.11% 🇪🇺EUR: -0.50% 🇨🇦CAD: -0.87% 🇦🇺AUD: -1.05% 🇳🇿NZD: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aZNugjVOT2
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.78% US 500: -0.85% FTSE 100: -1.28% France 40: -1.62% Germany 30: -1.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/y08VtV4cJy
  • Equities are broadly weaker this morning as Joe Biden hinted at tax cuts while introducing a new stimulus package last night. Get your stock market update from @HathornSabin here: https://t.co/8L3lZeZbbK https://t.co/X0sHgN1IwF
  • Looks like the $EURUSD (the Dollar) is making a go of it. Both the relative appeal of faster growth potential in the US and the spark of risk aversion we have today pitching favor to the Dollar. Terrible day - end of week - for a critical transitional move though https://t.co/Sb5IZE6F0C
  • US Indices are heading lower today after misses on key data prints. DOW -1.19% NDX -1.20% SPX -1.19% RUT -1.74% $DOW $QQQ $SPY $IWM
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: -0.55% Oil - US Crude: -2.14% Silver: -2.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UlhX3chZWU
  • 🇺🇸 Business Inventories MoM (NOV) Actual: 0.5% Expected: 0.5% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-01-15
  • $EURUSD briefly fell below 1.2100 for the first time since December 10th. $EUR $USD https://t.co/yVqkPtN0Cc
  • 🇺🇸 Michigan 5 Year Inflation Expectations Prel (JAN) Actual: 2.7% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • 🇺🇸 Michigan Inflation Expectations Prel (JAN) Actual: 3% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2021-01-15
Forex: AUD/USD Technical Analysis – Key Support Level Threatened

Forex: AUD/USD Technical Analysis – Key Support Level Threatened

2014-03-12 00:43:00
Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support: 0.8952 (38.2% Fib ret., trend line), 0.8896 (50% Fib ret.)
  • Resistance: 0.9021 (23.6% Fib ret.), 0.9085 (Jan 13 high)

The Australian Dollar has turned lower against its US counterpart expected after prices showed a Shooting Star candlestick below resistance in the 0.9085, the January 13 high. Support at 0.8952, the 38.2% Fibonacci retracement, a barrier reinforced by a rising trend line set from late January. A daily close beneath this level exposes the 50% Fib at 0.8896. Alternatively, a turn above the 23.6% level at 0.9021 aims for 0.9085 anew.

Prices are too close to relevant support to justify a short position from a risk/reward perspective, while a viable reversal signal arguing in favor of a long trade is absent. We will remain on the sidelines for now until a more actionable setup presents itself.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Key Support Level Threatened

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES