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.

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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
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
Bullish
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
  • 🇪🇸 Markit Manufacturing PMI (NOV) Actual: 49.8 Expected: 50.5 Previous: 52.5 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.44% 🇳🇿NZD: 0.34% 🇨🇦CAD: 0.34% 🇨🇭CHF: 0.27% 🇦🇺AUD: 0.25% 🇯🇵JPY: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VkPBkuh866
  • Heads Up:🇨🇭 https://t.co/IuJgBTnOdA Manufacturing PMI (NOV) due at 08:30 GMT (15min) Expected: 51.3 Previous: 52.3 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: US 500: 0.88% Wall Street: 0.80% Germany 30: 0.42% FTSE 100: 0.05% France 40: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BxWLQHMZKa
  • Heads Up:🇪🇸 Markit Manufacturing PMI (NOV) due at 08:15 GMT (15min) Expected: 50.5 Previous: 52.5 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Heads Up:🇪🇺 EcoFin Video Conference due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-12-01
  • Canadian Dollar Aiming Higher on Record GDP Print, Additional Fiscal Aid - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/12/01/Canadian-Dollar-Aiming-Higher-on-Record-GDP-Print-Additional-Fiscal-Aid.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CAD $USDCAD $CADJPY https://t.co/NClLIg2NSl
  • 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: https://t.co/t9Flsqcxo9 https://t.co/D9Lomf7e0C
  • 🇩🇪 Unemployment Rate Harmonised (OCT) Actual: 4.5% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇬🇧 Nationwide Housing Prices YoY (NOV) Actual: 6.5% Expected: 5.5% Previous: 5.8% https://www.dailyfx.com/economic-calendar#2020-12-01
AUD/USD Technical Analysis: Attempting Upside Breakout

AUD/USD Technical Analysis: Attempting Upside Breakout

2017-01-10 08:22:00
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 invalidates bearish chart setup, tries to break trend resistance
  • Short position taken above 0.73 closed despite absence of stop-loss trigger

The Australian Dollar is poised to break out higher against its US counterpart having seemingly overturned a bearish reversal signal produced late last week. The pair put in a Dark Cloud Cover candle pattern after the release of December’s US jobs data but Monday’s close seems mark invalidation.

The next layer of significant resistance comes in at 0.7396, the 38.2% Fibonacci retracement, with a daily close above that opening the door for a challenge of the 50% level at 0.7542. Alternatively, a move back below horizontal pivot support at 0.7334 exposes the January 6 low at 0.7284.

A short AUD/USD trade was triggered at 0.7327. The latest move higher has not triggered its stop-loss – set to be activated on a daily close above 0.7357 – but overall positioning has changed materially enough to consider the original setup void. As such, it will be closed for now.

Join the AUD/USD outlook webinar LIVE to see what drives prices each week!

AUD/USD Technical Analysis: Attempting Upside Breakout

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

DISCLOSURES