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
Mixed
GBP/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
USD/JPY
Bullish
Gold
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
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • 🇺🇸 USD Philadelphia Fed Business Outlook (NOV), Actual: 10.4 Expected: 6.1 Previous: 5.6 https://www.dailyfx.com/economic-calendar#2019-11-21
  • 🇺🇸 USD Initial Jobless Claims (NOV 16), Actual: 227k Expected: 219k Previous: 227k https://www.dailyfx.com/economic-calendar#2019-11-21
  • 🇺🇸 USD Continuing Claims (NOV 9), Actual: 1695k Expected: 1683k Previous: 1692k https://www.dailyfx.com/economic-calendar#2019-11-21
  • 🇺🇸 USD Initial Jobless Claims (NOV 16), Actual: 227K Expected: 219k Previous: 225k https://www.dailyfx.com/economic-calendar#2019-11-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.16%, while traders in US 500 are at opposite extremes with 79.95%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XTF3Zuhmts
  • Heads Up:🇨🇦 CAD Bank of Canada's Poloz Gives Fireside Chat in Toronto due at 13:40 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-21
  • @DailyFXTeam The release of US Initial Jobless Claims data has historically tended to cause above-average volatility in the US Dollar $USD $DXY #Forex #Trading #Analysis https://t.co/KTiM0IXABT
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.32% 🇳🇿NZD: 0.25% 🇪🇺EUR: 0.16% 🇯🇵JPY: -0.00% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Sr5Rz1pd1F
  • Heads Up:🇺🇸 USD Continuing Claims (NOV 9) due at 13:30 GMT (15min), Actual: N/A Expected: 1683k Previous: 1683k https://www.dailyfx.com/economic-calendar#2019-11-21
  • Heads Up:🇺🇸 USD Initial Jobless Claims (NOV 16) due at 13:30 GMT (15min), Actual: N/A Expected: 219k Previous: 225k https://www.dailyfx.com/economic-calendar#2019-11-21
AUD/USD Technical Analysis – Trend Line Marks Reversal

AUD/USD Technical Analysis – Trend Line Marks Reversal

2014-05-06 23:07:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support: 0.9318 (14.6% Fib exp.), 0.9277 (trend line)
  • Resistance: 0.9390 (23.6% Fib exp.), 0.9460-0.9507 (Apr 10 high, 38.2% Fib exp.)

The Australian Dollar launched a sharp recovery against its US counterpart having found support at a rising trend line set from late January. A break above the 14.6% Fibonacci expansion at 0.9318 has exposed the 23.6% level at 0.9390. A further push beyond that targets the 0.9460-9507 area, marked by the April 10 high and the 38.2% Fib. Alternatively, a reversal back below 0.9318 clears the way for another test of the trend line, now at 0.9277.

The available trading range is too narrow to justify a position at current levels from a risk/reward perspective given volatility as implied by 20-day ATR. With that in mind, we will remain on the sidelines for the time being.

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

AUD/USD Technical Analysis – Trend Line Marks Reversal

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

News & Analysis at your fingertips.