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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇮🇩 Inflation Rate YoY (FEB) due at 04:00 GMT (15min) Expected: 1.38% Previous: 1.55% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.75% Gold: 0.92% Silver: 0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SDuwP1gB7E
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.72% 🇳🇿NZD: 0.65% 🇬🇧GBP: 0.49% 🇪🇺EUR: 0.12% 🇨🇭CHF: 0.05% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/maFKPUDES5
  • Dramatic-looking Bearish Engulfing candle pattern with negative RSI divergence on the weekly #AUDUSD chart. A turn may be brewing. https://t.co/25jfu7eHaB
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/2Xfmpbd24B
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.78%, while traders in GBP/JPY are at opposite extremes with 66.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/pXjqRmdicy
  • Australian Dollar Unfazed by Chinese PMI as RBA Meeting Shifts Into View - https://www.dailyfx.com/forex/market_alert/2021/03/01/Australian-Dollar-Unfazed-by-Chinese-PMI-as-RBA-Meeting-Shifts-Into-View.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDUSD https://t.co/mR4b8YAVIe
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/k2YkjBeSdW
  • RT @FxWestwater: Australian Dollar, APAC Markets Focus on Bond Yields to Start March Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/03/01/Australian-Dollar-APAC-Markets-Focus-on-Bond-Yields-to-Start-March.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $AUDUSD https://t.co/py…
  • 🇦🇺 Investment Lending for Homes (JAN) Actual: 9.4% Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-03-01
AUD/USD Technical Analysis: Aussie Touches 2-Week High

AUD/USD Technical Analysis: Aussie Touches 2-Week High

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, 0.8531, 0.8441
  • Resistance:0.8743, 0.8869, 0.8970

The Australian Dollar advanced as expected against its US counterpart after prices put in a Bullish Engulfing candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 0.8743 exposes the 38.2% level at 0.8869. Alternatively, a reversal back below the January 2014 lowat 0.8659 opens the door for a challenge of the 50% Fib expansion at 0.8531.

Risk/reward considerations argue against entering long with prices yet to confirm a break higher on a daily closing basis. On the other hand, the absence of a defined bearish reversal signal suggests taking up the short side is premature. We will remain flat for now, waiting for a more actionable opportunity to present itself.

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

AUD/USD Technical Analysis: Aussie Touches 2-Week High

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