Skip to Content
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.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
AUD/USD Technical Analysis: Signs of Coming Bounce Remain

AUD/USD Technical Analysis: Signs of Coming Bounce Remain

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support:0.7750, 0.7685, 0.7581
  • Resistance:0.7802, 0.7855, 0.7920

The Australian Dollar is treading water against its US counterpart, but positive RSI divergence hints a recovery may be brewing ahead. A daily close above the 50% Fibonacci expansionat 0.7802 exposes the 38.2% level at 0.7855. Alternatively, a turn below the 61.8% Fibat 0.7750opens the door for a test of the 76.4% expansion at 0.7685.

An actionable trade setup is absent at this point, arguing against committing to a directional bias on long or short side. We will continue to stand aside for now, waiting for a clear-cut trading opportunity to present itself in the days ahead.

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

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