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
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
Wall Street
Bullish
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
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Goldman Sachs offers new bitcoin derivatives to Wall Street investors - BBG $GS #BTC #Bitcoin
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 86.53%, while traders in France 40 are at opposite extremes with 76.41%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qnPkCiqG50
  • President Biden's team likely to proceed with Trump's China investment ban - BBG
  • EUR/USD Technical Analysis: Euro Weakness Forms Lower Highs -via @IG_US @IGSquawk Link to Analysis: https://t.co/k91Se31MO9 $EURUSD #Forex #Trading https://t.co/8aT0ipLThX
  • Fed's Mester: The Fed will talk on tapering but we are not at that point yet
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.41% Germany 30: 0.21% France 40: 0.17% US 500: 0.12% FTSE 100: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fKJfeYKMZy
  • Ethereum briefly traded above $3,600 before retreating slightly. $ETH continues to outperform Bitcoin on a relative basis. $ETH #BTC #Bitcoin https://t.co/imuBwDYGEN
  • Fed's Mester: -Outlook is bright with some remaining risks -Virus still poses a risk to the outlook -Financial stability risks are moderate but will watch -Policy to remain accommodative for some time $SPX $NDX $DJI
  • SEC Chair Gensler: -SEC to release report on trading frenzy by summer -Asking SEC staff for more clarity on swaps -SEC to provide greater clarity around crypto custody -Congress should set a regulatory framework for crypto markets
  • Dogecoin dropped roughly 17% after reaching an all-time high yesterday. Next up for Doge – Elon Musk’s SNL debut on May 8th. Get your market update from @RichardSnowFX here:https://t.co/6fGEahgeoQ https://t.co/V5pglrSUxI
AUD/USD Technical Analysis: Aussie Threatens 0.74 Figure

AUD/USD Technical Analysis: Aussie Threatens 0.74 Figure

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Australian Dollar Rises to Six-Week High vs. USD as Prices Threaten 0.74 Figure
  • Waiting for Rebound Exhaustion to Enter Short as Long-Term Down Trend Resumes

The Australian Dollar resumed its advance against the US Dollar after a brief consolidative pause, rising to a six-week high and setting its sights on a test of the 0.74 figure. The latest upswing broke through trend line resistance set from September 2014, suggesting a significant recovery is in progress.

Near-term resistance is now at 0.7387, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis opening the door for a test of the 50% level at 0.7535. Alternatively, a move back below resistance-turned-support at 0.7283 – the November 25 high – paves the way for retesting a horizontal pivot at 0.7184.

While the near-term bias appears to have shifted in buyers’ favor, the dominant down trend in play since April 2013 is a very long way from being invalidated. That suggests on-coming gains are corrective. With that in mind, we will remain flat for now and wait for the advance to yield a selling opportunity.

Losing Money Trading Forex? This Might Be Why.

AUD/USD Technical Analysis: Aussie Threatens 0.74 Figure

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

DISCLOSURES