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
Bearish
Oil - US Crude
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
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
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
USD/JPY
Bearish
More View more
Real Time News
  • Interested in what factors are influencing the GBP this quarter? Get your free forecast here: https://t.co/BF0gzdigjn #DailyFXGuides https://t.co/psgpGWiWDl
  • The Dow Jones, Nasdaq 100 and S&P 500 stock indexes may find fresh catalysts as the release of Q4 US corporate earnings set the tone for what has been a record-scrapping rally. Get your market update from @margaretyjy here: https://t.co/5B9NlmVI6Z https://t.co/0xdeBE3L7Z
  • Crude oil prices are poised to continue their upward trajectory in 2021, but technical signals hint that a near-term pullback may precede the next major push higher. Get your market update from @FxWestwater here: https://t.co/ePFyh64cAG https://t.co/Btbz1n5Dfg
  • $USDMXN continues consolidation as bearish momentum eases and bias attempt to turn to the upside. Get your market update from @HathornSabin here: https://t.co/J9vJ76Lghq https://t.co/pJGnuuyJNQ
  • The US Dollar breaks out of the range bound price action from the first of January going into the inauguration of President-elect Joe Biden. Get your market update from @DavidJSong here: https://t.co/GVxAmCkhP5 https://t.co/OC6g9pGhGy
  • Sterling continues to nudge higher against most major currencies with traders placing their trust in the ongoing UK vaccination plan. Get your market update from @nickcawley1 here: https://t.co/OvFP8Zzz5b https://t.co/rwofebQHTq
  • $EURUSD has dropped sharply over the last few days and may well fall further. However, it is also possible that the bad news is now priced in to the exchange rate and that further weakness will be delayed. Get your market update from @MartinSEssex here: https://t.co/mDGlI1aS6o https://t.co/1xYg0muBJI
  • The Brexit timeline can be followed one event after another. Use this tool from DailyFX research to sharpen your knowledge on the Brexit timeline here: https://t.co/kFDzTWODDo https://t.co/TT1FwFK8cJ
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Uz6LKXdR2k
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/fGi6YgqqQt
Forex: AUD/USD Technical Analysis – 0.93 Figure Under Fire Anew

Forex: AUD/USD Technical Analysis – 0.93 Figure Under Fire Anew

2014-04-07 03:03:00
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: 0.9205 (Apr 3 low), 0.9132 (Mar 7 high, trend line)
  • Resistance: 0.9303 (Apr 1 high, 23.6% Fib exp.), 0.9363 (38.2% Fib exp.)

The Australian Dollar recoiled upward, producing the largest daily advance in nearly two weeks against its US counterpart. Prices are testing resistance at 0.9303, the 23.6% Fibonacci expansion, with a break above that targeting the 38.2% level at 0.9363. Negative RSI divergence hints at ebbing upside momentum and warns a turn lower may be brewing ahead however. Near-term support is at 0.9205, the April 3 low. A turn below this barrier aims for 0.9132, the intersection of the March 7 high and a rising trend line set from late January.

Risk/reward considerations argue against entering long with prices trading in close proximity to relevant resistance. On the other hand, taking up the short side looks premature absent a defined bearish reversal signal. With that in mind, we will remain flat for now.

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 – 0.93 Figure Under Fire Anew

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