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.



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
Oil - US Crude
Wall Street
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
  • 🇳🇱 Inflation Rate YoY (APR) Actual: 1.9% Expected: 1.7% Previous: 1.9%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.89%, while traders in Wall Street are at opposite extremes with 77.13%. See the summary chart below and full details and charts on DailyFX:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.08% 🇨🇭CHF: 0.06% 🇦🇺AUD: 0.03% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.08% View the performance of all markets via
  • Heads Up:🇳🇱 Inflation Rate YoY (APR) due at 04:30 GMT (15min) Expected: 1.7% Previous: 1.9%
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.25% US 500: -0.52% France 40: -1.12% Germany 30: -1.24% FTSE 100: -1.26% View the performance of all markets via
  • Retail FX traders (at IG) have pushed up their long $USDCAD position to levels not seen in years which has nudged the net long to approximately 85% of open interest. They are fighting that trend
  • Risk trends is the focus to start this week with the Nasdaq 100 dragging sentiment down through the close of the NY session. My attention is on the Dollar as pairs like $GBPUSD stare down major resistance or reversal:
  • White House monitoring supply shortages in parts of the southeast -BBG
  • 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:
AUD/USD Technical Analysis: Ripping Into the Reversal Zone

AUD/USD Technical Analysis: Ripping Into the Reversal Zone

Jeremy Wagner, CEWA-M, Head of Education

Talking Points

-AUD/USD presses into a potential reversal zone of .7520-.7600

-Near term and medium term patterns are bearish against .7678

AUD/USD has finally pushed up into the bearish reversal zone. We have been anticipating this bump higher as recent as Friday. The .7520-.7600 level was highlighted on Friday as a zone which may represent the final leg of a bullish push. It is possible we may see one more high above .7545, though it is not required as the previously bullish pattern can now be counted as completed.

The top side key level to watch under this analysis is the July 14 high of .7678. A move above .7678 threatens the near term wave picture, though the medium term outlook would remain bearish.

On a successful move lower we have horizontal support and trend line support near .7285-.7300. The next level of support is .7150.

Based on the Elliott Wave count, we are anticipating a sustained move down towards .70 and possibly .65 as AUDUSD would be falling in a 3rd wave that began on July 15. We previously noted :

“If this outlook holds, then AUD/USD would be at risk of falling hard in a 3rd of 3rd wave lower. Third waves tend to be the longest and strongest of the Elliott Wave sequence.”

“AUD/USD Quietly Coils Together 2 Bearish Patterns in a Row” July 22, 2105

With Sentiment, measured via SSI, clocking in at +1.06, that means there is about 50% of the traders who are going to be on the wrong side of a trade. With news event risk heavy over the next 24 hours (namely Australian CPI coming out later today and FOMC concluding their two day meeting tomorrow), this could create a knee jerk reaction that catches many AUDUSD traders off guard.

AUD/USD Technical Analysis: Ripping Into the Reversal Zone

Interested in a quarterly outlook for USD or other markets? Download our quarterly forecast here.

---Written by Jeremy Wagner, Head Trading Instructor, DailyFX EDU

Follow me on Twitter at @JWagnerFXTrader .

See Jeremy’s recent articles at his Bio Page.

To receive additional articles from Jeremy via email, join Jeremy’s distribution list.

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