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
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Mixed
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.01% 🇨🇭CHF: -0.01% 🇨🇦CAD: -0.05% 🇬🇧GBP: -0.15% 🇳🇿NZD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OY4a8ADSNd
  • Missed this week's session on IG Client Sentiment? Check out the recording on YouTube below! - https://t.co/89A37fRLyg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.16%, while traders in US 500 are at opposite extremes with 77.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MkBuM9u61U
  • On the first day of holiday movies, John McClane had to say, "welcome to the party and yippee-ki-yay"
  • #NZDJPY Technical Outlook: Bearish Correction Ahead? https://www.dailyfx.com/forex/market_alert/2019/12/11/NZDJPY-Technical-Outlook-Bearish-Correction-Ahead.html
  • Japan's Chief Cabinet Secretary Suga: Paying close attention to the economy after the sales tax hike -BBG
  • $USDCNH https://t.co/huK7xAti8U
  • RT @zerohedge: Yuan Tumbles After Navarro Warns "No Indication That Tariffs Will Be Delayed" https://t.co/mQlQTiQjgM
  • 🚨PRE-FOMC POLL ALERT⚠️ What do you think the market reaction will be the Fed rate decision and outlook?
  • LIVE NOW: Join Analyst @ddubrovskyFX as he discusses traders’ positioning as a key element of market analysis to determine the prevailing and future price trends. Register here: https://www.dailyfx.com/webinars/998956395?CHID=9&QPID=917720
AUD/USD Technical Analysis: Aiming Below 0.82 Figure

AUD/USD Technical Analysis: Aiming Below 0.82 Figure

2014-12-16 07:00:00
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:0.8240, 0.8291, 0.8375

The Australian Dollar continues to push downward against its US counterpart, with prices now aiming below the 0.8200 figure. A daily close below the intersection of channel floor support and the 38.2% Fibonacci expansion at 0.8157 exposes the 50% level at 0.8089. Alternatively, a reversal above the 23.6% Fib at 0.8240 clears the way for a challenge of 0.8291, marked by the channel top and the 14.6% expansion.

The available trading range is too narrow to justify a trade on the long or short side from a risk/reward perspective. With that in mind, we will remain on the sidelines for now and wait 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: Aiming Below 0.82 Figure

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.