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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
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
Real Time News
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.91% US 500: 0.14% FTSE 100: 0.12% France 40: 0.06% Germany 30: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hZuIomNwSE
  • The United States will not certify the autonomy of Hong Kong, putting its trade status in danger - BBG
  • RT @Lagarde: I am heartened to see this common European answer to the economic difficulties resulting from the coronavirus pandemic. #Stron…
  • Hey traders! With the bullish bias in the past few days, what are some highlights we are getting into today? Find out 👇 from @DailyFX Chief Strategist, @JohnKicklighter ! https://t.co/eXO2YWutRY
  • https://t.co/Mi7kAVUVOI
  • El crudo #WTI se juega los 35$ por barril en un marco político preocupante #oil #petroleo #trading https://t.co/B6NjYvTgs8
  • Austria's Kurz says EU plan's loan vs grant split and size needs to be debated $EUR
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.11% 🇯🇵JPY: -0.13% 🇨🇭CHF: -0.29% 🇳🇿NZD: -0.59% 🇬🇧GBP: -0.84% 🇦🇺AUD: -1.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2f7woqEyzE
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 1.16% Germany 30: 0.81% FTSE 100: 0.71% Wall Street: 0.53% US 500: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UHNz6zjlW6
  • Heads Up:🇬🇧 Prime Minister Johnson Testimony due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-27
AUD/USD Technical Analysis: Aussie Scores Best Run in 4 Years

AUD/USD Technical Analysis: Aussie Scores Best Run in 4 Years

2016-03-07 08:54:00
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
  • Aussie Dollar puts in best five-day winning streak in five years vs. USD
  • Gains seen as corrective but actionable short trade setup absent for now

The Australian Dollar has put in the best five-day winning streak in over four years last week, clearing double top resistance and establishing a foothold above the 0.74 figure. The currency found fuel in a steady stream of upbeat news-flow last week, beginning with a supportive RBA announcement and continuing to a strong set of four-quarter GDP figures.

Near-term resistance is at 0.7439, the 76.4% Fibonacci expansion, with a break above that on a daily closing basis opening the door for a test of the 100% level at 0.7541. Alternatively, a reversal below the 61.8% Fib at 0.7376 paves the way for a test of the 50% expansion at 0.7325.

We expect the long-term AUD/USD down trend to resume in line with our 2016 fundamental forecast, making current gains appear corrective. An actionable bearish reversal signal is absent however, arguing against pulling the trigger on a short trade. We will remain flat for now, waiting for a more compelling opportunity to present itself.

Are most FXCM traders buying or selling AUD/USD? Find out here!

AUD/USD Technical Analysis: Aussie Scores Best Run in 4 Years

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

DISCLOSURES

News & Analysis at your fingertips.