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
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
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/xngExEdFdu https://t.co/kqpJ6oGXgt
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/F4dXbUzU3o https://t.co/G0ZWWVtSrZ
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/5js6tWk5bY
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/Z71MZEIJWC https://t.co/YAr1kN4eKd
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zqmIM https://t.co/72HRMZlKUn
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzvWnm https://t.co/j5Zjn5zY0D
  • (Weekly Fundy) Australian Dollar Forecast: AUD/USD May Rise as Dovish Fed Calms Yields, US Dollar $AUDUSD #AUD #USD #Bonds #Fed https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/04/17/Australian-Dollar-Forecast-AUDUSD-May-Rise-as-Dovish-Fed-Calms-Yields-US-Dollar.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gQDr5fBosb
  • The Japanese Yen and Swiss Franc may outperform the US Dollar amid rising long bets in USD/JPY and USD/CHF. But, broader uptrends since January could still remain in play. Get your market update from @ddubrovskyFX here:https://t.co/Qpeuuyrxhj https://t.co/EfgW9aj7wo
  • Bitcoin struggled to maintain a push into record highs and appears to be vulnerable to a near-term pullback. Litecoin and Ethereum saw more aggressive gains, will their momentum accelerate? Get your $btc market update from @ddubrovskyFX here:https://t.co/f5d7qs5j3z https://t.co/xxMX4YFKCC
  • The US Dollar is looking increasingly vulnerable to ASEAN FX, with USD/SGD and USD/THB breaching key support. USD/IDR is eyeing a Rising Wedge, USD/PHP may face February lows. Get your $USD market update from @ddubrovskyFX here:https://t.co/7rSQzu0sx9 https://t.co/5mmTfs00lT
AUD/USD Technical Analysis: Short Position Still in Play

AUD/USD Technical Analysis: Short Position Still in Play

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • AUD/USD Technical Strategy: Short at 0.9414
  • Support:0.9305-24, 0.9223, 0.9181
  • Resistance: 0.9422, 0.9507-22, 0.9602

The Australian Dollar turned downward as expected against its US counterpart after the pair produced a Dark Cloud Cover candlestick pattern. Support lines up in the 0.9305-24 area, marked by a horizontal pivot in play since March and the 23.6% Fibonacci retracement. A break below that on a daily closing basis exposes the 0.9181-223 zone, bracketed by a range bottom and the 38.2% level. Alternatively, reversing above support-turned-resistance at 0.9422 opens the door for a challenge of the 0.9507-22 region (trend line support-turned-resistance, 38.2% Fib expansion).

We sold AUDUSD at 0.9414, initially aiming for 0.9324. A stop-loss is set to activate on a daily close abovethe July 1 high at 0.9504. We will take profit on half of the trade and move the stop-loss to breakeven on the remainder of the position once the first objective is met.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

AUD/USD Technical Analysis: Short Position Still in Play

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