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
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
Wall Street
More View more
Real Time News
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out:
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • #Gold prices succumbed to selling pressure as the US Dollar soared this past week What is #XAUUSD facing these next few days and can these fundamental forces extend its selloff? Check out my outlook here -
  • 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:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
AUD/USD Technical Analysis: Aussie May Bounce From 1-Month Low

AUD/USD Technical Analysis: Aussie May Bounce From 1-Month Low

2016-09-02 07:21:00
Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Aussie Dollar hints at possible recovery after hitting 1-month low
  • Looking for a corrective upswing as an opportunity to enter short

The Australian Dollar may be preparing for a rebound against its US counterpart but overall positioning continues to favor a bearish bias. The appearance of a bullish Morning Star candlestick pattern hints at an upswing but the move seems corrective while below a recently broken rising trend line.

A daily close above resistance in the 0.7597-0.7647 area (23.6% Fibonacci expansion, June 24 high) opens the door for another challenge of the August 11 high at 0.7760. Alternatively, a reversal lower that produces a daily close below the 38.2% level at 0.7496 will pave the way for a test of the 50% Fib at 0.7415.

A pending entry order to sell AUD/USD at 0.7597 has been cancelled as prices hit the would-be trade’s target without a rebound to trigger the position. A corrective upswing may offer another chance to sell the pair but setting firm parameters seems premature as US jobs data threatens to materially alter positioning.

AUD/USD Technical Analysis: Aussie May Bounce From 1-Month Low

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