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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Forex: AUD/USD Technical Analysis – Aussie Hits 4-Month High

Forex: AUD/USD Technical Analysis – Aussie Hits 4-Month High

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: 0.9177 (38.2% Fib exp.), 0.9132 (Mar 7 high)
  • Resistance: 0.9233 (50% Fib exp.), 0.9290 (61.8% Fib exp.)

The Australian Dollar continued to push higher against its US counterpart for a fourth consecutive day, taking out resistance at 0.9177 marked by the 38.2% Fibonacci expansion. The bulls are now testing the 50% level at 0.9233, with a break above that eyeing the 61.8% Fib at 0.9290. Alternatively, a reversal back below 0.9177 aims for the March 7 highat 0.9132.

Prices are too close to relevant resistance to justify a long position from a risk/reward perspective. On the other hand, entering a short trade looks premature absent a new bearish reversal signal. We will continue to stand aside for now, waiting for a more attractive setup to present 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 – Aussie Hits 4-Month High

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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