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
Bullish
Oil - US Crude
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Bearish
USD/JPY
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
More View more
Breaking news

British Pound sinks as EU Brexit negotiator Barnier says there may not be an EU/UK deal

Real Time News
  • Adds that some EU member states have become jittery as the Brexit endgame nears $GBP
  • EU Diplomat says still unclear if negotiators can bridge gaps on 3 key issues $GBP
  • Heads Up:🇬🇧 BoE FPC Meeting due at 09:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-12-02
  • 🇮🇹 Unemployment Rate (OCT) Actual: 9.8% Expected: 9.9% Previous: 9.7% https://www.dailyfx.com/economic-calendar#2020-12-02
  • 🇮🇹 Unemployment Rate (OCT) Actual: 9.8% Expected: 9.9% Previous: 9.6% https://www.dailyfx.com/economic-calendar#2020-12-02
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.23%, while traders in EUR/USD 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/tOPLdyRuXM
  • Heads Up:🇮🇹 Unemployment Rate (OCT) due at 09:00 GMT (15min) Expected: 9.9% Previous: 9.6% https://www.dailyfx.com/economic-calendar#2020-12-02
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/5GU4pInyEz
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: 0.12% Oil - US Crude: -0.06% Silver: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Or5dlWpp5V
  • Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Nov 17, 2020 when Oil - US Crude traded near 4,158.50. A contrarian view of crowd sentiment points to Oil - US Crude weakness. https://www.dailyfx.com/sentiment https://t.co/PfSmrjovuW
AUD/USD Technical Analysis: Rebound Fizzles Near 0.72 Mark

AUD/USD Technical Analysis: Rebound Fizzles Near 0.72 Mark

2015-11-06 08:40:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Upside Correction Loses Steam as Aussie Dollar Awaits Key Event Risk Looming Ahead
  • Looking for Actionable Trade Signal to Enter Short in Line with Dominant Down Trend

The Australian Dollar is treading water having bounced as expected against its US counterpart, waiting for direction cues from key event risk by way of US employment data. Prices moved higher as expected after putting in a Bullish Engulfing candlestick pattern but momentum has fizzled, with ATR-based volatility readings dropping to the lowest level in 10 months.

Near-term trend line support is now at 0.7091, with a break below that on a daily closing basis initially clearing the way for a test of the 38.2% Fibonacci expansion at 0.6902. Alternatively, a push above support-turned-resistance at 0.7199 sees the next upside barrier at 0.7387, the 38.2% Fib retracement.

Positioning is inconclusive at this point, with prices offering no clear-cut directional signal for a trade setup. The dominant longer-term trend continues to favor the downside however. With that said, we will remain on the sidelines and wait for the pair to offer a compelling selling opportunity.

Losing Money Trading Forex? This Might Be Why.

AUD/USD Technical Analysis: Rebound Fizzles Near 0.72 Mark

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

DISCLOSURES