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
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
Gold
Bearish
Oil - US Crude
Bearish
Bitcoin
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
More View more
Real Time News
  • #Euro Forecast: #EURGBP Broke Month-Long Range. What Next? https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2019/11/13/Euro-Forecast-EURGBP-Broke-Month-Long-Range-What-Next.html
  • Heads Up:🇪🇺 EUR German Consumer Price Index EU Harmonized (YoY) (OCT F) due at 07:00 GMT (15min), Actual: N/A Expected: 0.9% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2019-11-13
  • Heads Up:🇪🇺 EUR German Consumer Price Index (YoY) (OCT F) due at 07:00 GMT (15min), Actual: N/A Expected: 1.1% Previous: 1.1% https://www.dailyfx.com/economic-calendar#2019-11-13
  • The $USD enjoyed support from haven demand through most of 2019. Investors may now be attracted by its yield advantage as global market mood improves. Get your market update from @IlyaSpivak here:https://t.co/VqM4kinKYJ https://t.co/RG4RwLF6ps
  • Very interesting to see #Yen weakness despite broad declines in Asia stocks Wednesday, #SP500 futures are notably lower. Bond yields are on the rise (AU, NZ) after the #RBNZ rate hold. Seems like this may be a yield story amid 2020 #Fed rate cut bets also fading, fueling carry? https://t.co/34upnBTnTX
  • Here is my trading video for the coming trading session: '$USDJPY and S&P 500 Due a Break as Market Shifts from Trump to #Fed's Powell' https://www.dailyfx.com/forex/video/daily_news_report/2019/11/13/USDJPY-and-SP-500-Due-a-Break-as-Market-Shifts-from-Trump-to-Feds-Powell.html?CHID=9&QPID=917719
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.56%, while traders in France 40 are at opposite extremes with 86.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/oxWrEM6VSB
  • US-China Trade Deal Optimism Leaves Hong Kong Stocks Behind - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/13/US-China-Trade-Deal-Optimism-Leaves-Hong-Kong-Stocks-Behind.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #HongKongProtests #tradewar #HSI #HangSeng
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.11% 🇨🇭CHF: 0.21% 🇪🇺EUR: 0.06% 🇬🇧GBP: 0.03% 🇯🇵JPY: -0.06% 🇨🇦CAD: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ctmAjNADFm
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.25% US 500: -0.26% France 40: -0.50% Germany 30: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CSEF8InQHc
AUD/USD Technical Analysis – Support Above 0.92 at Risk

AUD/USD Technical Analysis – Support Above 0.92 at Risk

2014-05-23 02:15:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • AUD/USD Technical Strategy: Short at 0.9328
  • Support: 0.9201 (23.6% Fib exp.), 0.9041 (38.2% Fib exp.)
  • Resistance: 0.9300, 0.9386 (channel floor), 0.9408 (May 14 high)

The Australian Dollar declined as expected against its US counterpart after prices took out support at the bottom of a rising channel set from late January. Near-term support is at 0.9201, the 23.6% Fibonacci expansion, with a break below that targeting the 38.2% level at 0.9041. Alternatively, a move back above the 0.93 figure exposes the channel floor at 0.9386, followed by the May 14 high at 0.9408.

We entered short AUDUSD at 0.9328 in line with our fundamental outlook, targeting0.9201 as the initial objective. A stop-loss will be activated on a daily close above 0.9408. We will take profit on half of the trade at the first target and trail the stop-loss to the breakeven level.

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

AUD/USD Technical Analysis – Support Above 0.92 at Risk

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.