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.

Free Trading Guides
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • The bear flag pattern is a popular price pattern used by technical traders within the financial markets to determine trend continuations. How can you trade a bearish flag pattern? Find out here: https://t.co/HfXdjTWdEi @WVenketas https://t.co/qV7J1mhGBi
  • Macro data from around the world have long attested to the urgent need for a trade settlement between the US and China. Increasingly the corporate numbers are saying the same. Get your market update from @DavidCottleFX here:https://t.co/Qon7QUO80c https://t.co/L1it36hFzw
  • RT @TaviCosta: The labor market has started to crack. ADP report leads annual change in unemployment rate with a 0.9 correlation. Equity…
  • RT @economics: How likely is it that the U.S. will enter a recession? This tracker will tell you https://t.co/GV0blNwNOx
  • #DidYouKnow the global trade volumes dropped by close to 10% amid the Great Recession. Want to know your #tradewars history? Get it here: https://t.co/f4loFVimeY https://t.co/E4GkupnRnC
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/jtZTvodpCt
  • The price of oil preserves the advance following the OPEC meeting as the US and China, the two largest consumers of crude, reach a trade deal. Get your crude #oil market update from @DavidJSong here: https://t.co/g5lxDaRvWL #oott https://t.co/yeelVJU5OK
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/rEVhCnC0vY
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/I1AA0UEyWq
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/o4zt4pmSzc
AUD/USD Technical Analysis: Aussie Drops to 4-Year Low

AUD/USD Technical Analysis: Aussie Drops to 4-Year Low

2014-12-15 03:08:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support:0.8157, 0.8089, 0.8022
  • Resistance:0.8291, 0.8375, 0.8468

The Australian Dollar has dipped to a four-year low against its US namesake, with sellers threatening to clear a path below the 0.8200 figure. Near-term support is at 0.8240, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 0.8157. Alternatively, a turn above the intersection of falling channel top resistance and the 14.6% Fib at 0.8291 opens the door for a challenge of the December 11 high at 0.8375.

An actionable trade setup is absent for the time being. On one hand, a break below support is yet to be confirmed while on the other a defined bullish reversal signal is absent. We will stand aside, waiting for the pair to produce a better-defined opportunity.

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

AUD/USD Technical Analysis: Aussie Drops to 4-Year Low

Daily Chart - Created Using FXCM Marketscope

--- 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

News & Analysis at your fingertips.