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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
AUD/USD Technical Analysis: Profits Taken on Short Trade

AUD/USD Technical Analysis: Profits Taken on Short Trade

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:0.8821, 0.8752, 0.8659
  • Resistance:0.8887, 0.8932, 0.9021

The Australian Dollar advanced against its US namesake as expected after putting in a bullish Piercing Line candlestick pattern. Near-term support-turned-resistance is at 0.8887, the March 3 low, with a break above that on a daily closing basis exposing the 38% Fibonacci retracementat 0.8933. Alternatively, a reversal below the 23.6% Fib at 0.8821 clears the way for a test of the 14.6% level at 0.8752

We sold AUDUSD at 0.9186 and have since taken profit on half ofour exposure. We will now exit the rest of the trade and wait for new selling opportunities to emerge.

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

AUD/USD Technical Analysis: Profits Taken on Short Trade

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.