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
  • RT @FxWestwater: Gold, Iron Ore Forecast: Prices Hinge on FOMC, Evergrande Crisis, China Steelmaking Curbs Link: h…
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • We are heading into a Tuesday lull which precedes Wednesday's FOMC focus. Will the absence of distractions allow for risk trends to gain momentum or perhaps will Fed anticipation temper the $SPX tumble? My take:
  • CTV projects Trudeau wins his third term as Canada's Prime Minister - BBG
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • US House Speaker Pelosi says top-line spending number may change but hopes for $3.5 trillion in spending bill - BBG
  • RBA Minutes: - Board committed to providing high level of monetary support - Q3 GDP expected to decline materially - Central scenario is rates on hold until 2024 - BBG $AUDUSD
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min)
  • New Zealand reports 14 new local Covid cases - BBG
AUD/USD Technical Analysis: Waiting for Selling Opportunity

AUD/USD Technical Analysis: Waiting for Selling Opportunity

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 Hits Three-Week High After Finding Support Below 0.68
  • Waiting for FOMC Rate Decision, Actionable Trade Setup to Enter Short

The Australian Dollar is attempting to extend the recovery against its US namesake after finding a bottom below the 0.68 figure. The currency probed up to the highest level in three months after fourth-quarter inflation figures registered above economists’ expectations.

From here, a daily close above the 38.2% Fibonacci retracement at 0.7018 opens the door for a challenge of the 50% level at 0.7077. Alternatively, a reversal below the 23.6% Fib at 0.6945 paves the way for a test of the 14.6% level at 0.6900.

The dominant AUD/USD trend favors a bearish bias but an actionable trade setup is absent for the time being. Furthermore, the upcoming FOMC rate decision represents critical event risk that may materially alter technical positioning. With that in mind, we will remain and wait for a more compelling opportunity to present itself.

What did we learn from our mistakes last year? Get the 2015 Trading Lessons Guide to find out!

AUD/USD Technical Analysis: Waiting for Selling Opportunity

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