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: Still Looking for Direction

AUD/USD Technical Analysis: Still Looking for Direction

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:0.8659, 0.8568, 0.8466
  • Resistance:0.8845, 0.8971, 0.9073

The Australian Dollar is struggling to build upward against its US namesake after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci expansion at 0.8845 exposes the 38.2% Fib retracement at 0.8971. Alternatively, a turn below the 0.8659-94 area marked by the January 2014 low and the 23.6% expansion opens the door for a challenge of the 38.2% threshold at 0.8568.

Positioning remains inconclusive. The Piercing Line pattern hints a bottom may be set but upside follow-through has been absent, casting doubt on the setup’s potency. We will remain flat for now until greater clarity emerges.

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

AUD/USD Technical Analysis: Still Looking for Direction

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.