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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • DXY broke upward sloping channel, 200-day next. May be on its way to trading to the yearly low at 89.2. Get your market update from @PaulRobinsonFX here:
  • USD/JPY attempting to muscle its way higher off session lows with help from these Waller comments (see thread below) $USDJPY $USD #Forex
  • Fed's Waller: - Fed could taper at a faster rate than previous taper - I was in favor of tapering MBS before Treasuries; majority of Committee did not agree
  • Fed's Waller: - We should taper early and quickly to pave way for potential rate hikes in 2022 - Inflation expectations are well anchored
  • Fed's Waller: - Inflation running well above 2% target - If next two jobs reports come in as strong as the last report, Fed can taper by September
  • RT @ZabelinDimitri: Rising Australia-#China tension could compound medium-term bearish outlook for #AUD
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.03% Silver: -0.07% Oil - US Crude: -0.12% View the performance of all markets via
  • The USD Majors are poised within well-defined setups into the open of the month with a host of event risk on tap this week including the RBA & BoE interest rate decisions, NFP and Canada employment. Get your market update from @MBForex here:
  • Bitcoin (BTC), Ethereum (ETH) giving back some of the weekend’s gains. Ethereum/Bitcoin spread makes a break above trendline resistance. Get your cryptocurrency update from @nickcawley1 here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.64%, while traders in France 40 are at opposite extremes with 78.21%. See the summary chart below and full details and charts on DailyFX:
AUD/USD Technical Analysis: Exiting Short Trade After Surge

AUD/USD Technical Analysis: Exiting Short Trade After Surge

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Aussie Dollar Produces Largest Daily Advance in Six Weeks vs. US Counterpart
  • Exiting Short Position to Wait for Another Selling Opportunity to Present Itself

The Australian Dollar launched sharply higher against its US counterpart, producing the largest daily advance in six weeks. Prices have now broken the series of lower highs and lows established from mid-October, seemingly overturning the near-term bearish trend bias.

From here, a break above the 38.2% Fibonacci expansion at 0.7197 opens the door for a test of the 50% level at 0.7253. Alternatively, a move back below the 23.6% Fib at 0.7128 – now recast as support – clears the way for a challenge of the 14.6% expansion at 0.7085.

We entered short AUDUSD at 0.7058. Prices have not met the conditions set out to trigger the stop-loss but we will exit the trade regardless. The break of trend line resistance set from the October 12 swing high warns that the balance of power has shifted to favor the bulls in the near term. The dominant long-term trend remains bearish however. With that in mind, we will stand aside for now until another trading opportunity presents itself.

Losing Money Trading Forex? This Might Be Why.

AUD/USD Technical Analysis: Exiting Short Trade After Surge

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