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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:🇬🇧 BoE Credit Conditions Survey due at 09:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇿🇦 Retail Sales YoY (NOV) Actual: -4% Expected: -2.5% Previous: -2.3% https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇵🇱 Employment Growth YoY (DEC) Actual: -1% Expected: -1.2% Previous: -1.2% https://www.dailyfx.com/economic-calendar#2021-01-21
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/qA7wZiJfiX
  • 🇪🇸 Balance of Trade (NOV) Actual: €-0.59B Previous: €-0.65B https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇳🇴 Norges Bank Interest Rate Decision Actual: 0% Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇵🇱 Employment Growth YoY (DEC) Actual: -1.0% Expected: -1.2% Previous: -1.2% https://www.dailyfx.com/economic-calendar#2021-01-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 71.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/le9vtgEYLU
  • Heads Up:🇪🇸 Balance of Trade (NOV) due at 09:00 GMT (15min) Previous: €-0.65B https://www.dailyfx.com/economic-calendar#2021-01-21
  • Heads Up:🇵🇱 Employment Growth YoY (DEC) due at 09:00 GMT (15min) Expected: -1.2% Previous: -1.2% https://www.dailyfx.com/economic-calendar#2021-01-21
AUD/USD Technical Analysis: Short Trade Triggered at 0.69

AUD/USD Technical Analysis: Short Trade Triggered at 0.69

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • AUD/USD Technical Strategy: Short at 0.6900
  • Aussie Dollar Drops Below September Low, Hinting at Down Trend Resumption
  • Short Position Now in Play, Initially Targeting a Decline Below the 0.68 Figure

The Australian Dollar resumed the downward push against its US counterpart after brief period of consolidation, issuing the largest daily drop in over four months. Prices have now cleared support marked by the swing bottom set in early September, suggesting the longer-term AUD/USD down trend is resuming.

From here, a daily close below the 50% Fibonacci expansion at 0.6758 opens the door for a challenge of the 61.8% level at 0.6609. Alternatively, a reversal back above support-turned-resistance at 0.6906, the 38.2% Fib, paves the way for a retest of the November 10 low at 0.7016.

Technical positioning appears to be aligning with our fundamental outlook and we will now enter short, initially targeting 0.6758. A stop-loss will be activated on a daily close above 0.6950. We will take profit on half of the position and trail the stop-loss to the breakeven level when the first objective is reached.

Losing Money Trading Forex? This Might Be Why.

AUD/USD Technical Analysis: Short Trade Triggered at 0.69

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

DISCLOSURES