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
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • The British Pound is under renewed selling pressure this morning after BoE deputy governor for banking and markets said that the central bank is keeping ‘our whole tool set under active review'. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/fY4HewczpL https://t.co/AX1qMeq8ks
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.31% 🇨🇦CAD: 0.19% 🇦🇺AUD: 0.18% 🇨🇭CHF: 0.04% 🇪🇺EUR: -0.05% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qsrBgSzbb9
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.48% France 40: 1.56% FTSE 100: 1.37% US 500: 1.27% Wall Street: 1.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/U88jwizBUy
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.62% Gold: -0.43% Silver: -0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/E0JIHB34kq
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.33%, while traders in US 500 are at opposite extremes with 75.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KPZp80OFL7
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.74% Gold: -0.44% Silver: -0.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fdvrgxmJD4
  • On May 8, Bitcoin surged to a two and a half month-high at $10,071. Get your #Bitcoin technical analysis from @malkudsi here: https://t.co/40pZEa2ARj https://t.co/6fweAKEiP5
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.47% France 40: 1.56% FTSE 100: 1.42% US 500: 1.19% Wall Street: 1.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lusuGg69Py
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.33%, while traders in US 500 are at opposite extremes with 76.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yX00FwBRaN
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.14% 🇦🇺AUD: 0.07% 🇳🇿NZD: -0.00% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4auhNzVWYV
AUD/USD Technical Analysis: Support Now Below 0.69 Figure

AUD/USD Technical Analysis: Support Now Below 0.69 Figure

2015-09-07 04:55:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

The Australian Dollar made another strong push to the downside against its US namesakeafter a brief consolidative period. The pair issued the largest drop in two weeks, slumping to the lowest level in six months.

The next layer of support is now at 0.6880, the 61.8% Fibonacci expansion, with a break below that on a daily closing basis exposing the 76.4% level at 0.6748. Alternatively, a move back above support-turned-resistance at 0.6987, the 50% Fib, opens the door for a test of the 38.2% expansion at 0.7093.

We sold AUDUSD at 0.7214 and have since booked profit on half of the trade as well as moved the stop-loss to the breakeven level. The remainder of the trade will remain in play to capture any further downward momentum ahead.

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

AUD/USD Technical Analysis: Support Now Below 0.69 Figure

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.