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.



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
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
  • 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:
  • Credit Suisse dumped Evergrande exposure on risk fears - FT
  • RT @onlyyoontv: #China central bank declares #virtualcurrency-related business activities as illegal. No legal tender/crypto exchange; exch…
  • 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:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • PBoC will also strengthen management of information on internet about cryptocurrencies
  • PBoC issues notice to further prevent and dispose of risks from Cryptocurrency speculation and will strengthen monitoring of risks from Crypto trading Adds that cryptocurrency-related activities are illegal
  • China State Planner says they will not allow financial support for new Crypto mining projects or allow these projects to participate in electricity markets
  • China State Planner issues notice on crackdown on Cryptocurrency mining
AUD/USD Technical Analysis: Aussie Taking Aim at 0.80 Figure

AUD/USD Technical Analysis: Aussie Taking Aim at 0.80 Figure

Ilya Spivak, Head Strategist, APAC

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

AUD/USD Technical Strategy: Flat

  • Australian Dollar recovery continues, with prices now aiming at the 0.80 figure
  • Longer-term positioning continues to be defined by a double top set above 0.81
  • Adverse risk/reward parameters argue against entering a tactical long position

The Australian Dollar continues to make headway against its US counterpart, with prices now poised to challenge resistance at the 0.80 figure. The pair launched upward after producing a bullish Piercing Line candlestick. Still, the double top set above 0.81 and the subsequent bearish breakout are in force.

Near-term resistance is at 0.9002, the 38.2% Fibonacci expansion, with a break above that on daily closing basis opening the door for a test of the 50% level at 0.8076. Alternatively, a reversal back below the 23.6% Fib at 0.7909 opens the door for another challenge of the 14.6% expansion at 0.7852.

While a tactical long position is certainly tempting, structuring a trade with acceptable risk/reward parameters looks challenging at current levels. With that in mind, opting to remain on the sidelines until a better-defined opportunity presents itself seems to be the most sensible choice for the time being.

Find out here what the #1 mistake that traders make is and how you can fix it!

AUD/USD Technical Analysis: Aussie Taking Aim at 0.80 Figure

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