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
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Wall Street Futures Update: Dow Jones (+1.125%) S&P 500 (+1.103%) Nasdaq 100 (+1.087%) [delayed] -BBG
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/7mYrLT7zcL
  • 🇯🇵 Consumer Confidence (OCT) Actual: 33.6 Previous: 32.7 https://www.dailyfx.com/economic-calendar#2020-10-29
  • Heads Up:🇯🇵 Consumer Confidence (OCT) due at 05:00 GMT (15min) Previous: 32.7 https://www.dailyfx.com/economic-calendar#2020-10-29
  • Fear has reared its ugly head this past session. Will a fire burn when for risk assets like the Dow even as attention is drawn forward to next week's Presidential election? I discuss my views in today's trading video: https://www.dailyfx.com/forex/video/daily_news_report/2020/10/29/Dow-and-Nasdaq-Enter-Technical-Corrections-Dollar-Plays-Safe-Haven-Ahead-of-GDP-and-FAANGs.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/KYexqG2pEa
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.86%, while traders in NZD/USD are at opposite extremes with 69.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yOLbxwOKhF
  • The Indian #Rupee may weaken following a breakout higher in $USDINR over the past 24 hours. Despite rising global stock market volatility, the #nifty50 has been holding its ground. Could it capitulate lower? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/29/Indian-Rupee-Nifty-50-Forecast-USDINR-Breakout-as-Volatility-Spikes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/GPQSQMvUsn
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.28% 🇨🇦CAD: 0.24% 🇬🇧GBP: 0.16% 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.07% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YuqROnNqY7
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.95% Wall Street: 0.95% France 40: 0.56% Germany 30: 0.46% FTSE 100: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kACR087bkv
  • $USD Technical Analysis: $AUDUSD, $EURUSD, $GBPUSD Key Levels to Watch - https://www.dailyfx.com/forex/technical/home/analysis/us_dollar_index/2020/10/29/USD-Technical-Analysis-AUDUSD-EURUSD-GBPUSD-Key-Levels-to-Watch.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/qhWkEqOHVW
AUD/USD Technical Analysis: Aussie Selloff Finally at Hand?

AUD/USD Technical Analysis: Aussie Selloff Finally at Hand?

2014-09-09 23:19:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support: 0.9199, 0.9085, 0.8955
  • Resistance: 0.9245-67, 0.9367, 0.9504

The Australian Dollar may have finally broken out of its stubborn five-month range against its US counterpart. A daily close below falling channel floor support at 0.9199 exposes the 38.2% Fibonacci expansion at 0.9085. Alternatively, a reversal above the 0.9245-67 area marked by the 23.6% level and an upward-sloping trend line set from early April clears the way for a test of the channel top at 0.9367.

Risk/reward considerations argue against entering short with prices sitting at support. We remain on the sidelines for the time being, waiting for a corrective bounce or a further push downward to generate an actionable selling opportunity.

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

AUD/USD Technical Analysis: Aussie Selloff Finally at Hand?

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