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.

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
More View more
Real Time News
  • Fed's Williams: - Inflation did not achieve the 2% target because the Fed acted too soon in the past - If the US defaults, the Fed will not be able to repair the economic harm
  • Fed's Williams: - I don't anticipate a significant increase in labor supply in Sept. and Oct. - I believe the job market will be quite robust in 12 months
  • Crude oil back to resistance - #CL2! chart on @TradingView https://t.co/bwcFB2lpqr
  • Heads Up:🇺🇸 Fed Brainard Speech due at 16:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • Markets reacted earlier today after 10-year U.S. Treasury yields popped resulting in a move away from the South African rand as the U.S. dollar firmed – reducing the attractiveness of the carry trade. Get your market update from @WVenketas here:https://t.co/LPzqjA8Ysj https://t.co/2rfz0xrmeQ
  • US Dollar Ascending Triangle: EUR/USD, GBP/USD, USD/JPY, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/27/US-Dollar-Ascending-Triangle-EUR-USD-EURUSD-GBP-USD-GBPUSD-USD-JPY-USDJPY-USD-CAD-USDCAD.html https://t.co/VSC47loQUx
  • Heads Up:🇺🇸 Fed Williams Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • The price of oil appears to be on track to test the yearly high ($76.98) after breaking out of the descending channel from earlier this year. Get your #crudeoil market update from @DavidJSong here:https://t.co/QrzTFOCiw5 https://t.co/DQ0r1OsKF1
  • I read this morning that Boston Fed President Eric Rosengren is retiring 9 months earlier than his term expiration due to health issues. Hope he recovers quickly. Could change the calculus for the Fed's policy position next year as he was an incoming hawkish voter. #Tapering https://t.co/WDUeZl3Ziy
  • PRESIDENT BIDEN WILL GET COVID19 BOOSTER SHOT THIS AFTERNOON $PFE $MRNA
AUD/USD Technical Analysis: Looking to Sell Above 0.76

AUD/USD Technical Analysis: Looking to Sell Above 0.76

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • AUD/USD Technical Strategy: Pending short at 0.7603
  • Aussie Dollar breaks 2016 down trend, eyes support below 0.75 figure
  • Looking to enter short AUD/USD on a corrective bounce toward 0.76

The Australian Dollar may be resuming the long-term down trend against its US namesake after prices broke support capping losses for most of 2016. Prices turned lower as expected after putting in a bearish Evening Star candlestick pattern below the 0.79 figure.

Sellers now aim to challenge the 38.2% Fibonacci retracement at 0.7450, with a break below that on a daily closing basis opening the door for a test of the 50% level at 0.7331. Alternatively, a move back above trend line support-turned-resistance at 0.7563 paves the way for a challenge of a horizontal pivot barrier at 0.7680.

Prices are too close to support to justify entering short from a risk/reward perspective. Instead, an entry order will be established to sell AUD/USD at 0.7603. If triggered, the trade will initially target 0.7450 and carry a stop-loss activated on a daily close above 0.7680.

What do DailyFX analysts expect from AUD/USD in 2016? See our forecast here!

AUD/USD Technical Analysis: Looking to Sell Above 0.76

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

DISCLOSURES