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
More View more
Real Time News
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here:
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here:
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here:
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here:
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here:
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here:
  • Beautifully put.
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss here:
AUD/USD Technical Analysis: Trend Reversal in the Works?

AUD/USD Technical Analysis: Trend Reversal in the Works?

2018-03-12 01:00:00
Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Strategy: Flat

  • Australian Dollar attempting to overturn near-term down trend
  • Break of key resistance would clear path above the 0.79 figure
  • Improved risk/reward and confirmation needed for trade setup

The Australian Dollar is on the verge of overturning the near-term down trend established from highs set in late January against its US counterpart. The pair formed a double top above 0.81. If the subsequent series of lower highs and lows is broken, the next leg of the longer-term advance from 2016 lows may begin.

A daily close above the 23.6% Fibonacci expansion at 0.7862 – a barrier reinforced by falling trend line resistance – exposes the 38.2% level at 0.7955 next. Alternatively, a move below chart inflection point support at 0.7732 paves the way for a challenge of another notable sticking point at 0.7636.

An actionable trade setup seems to be absent for now. On one hand, prices are too close to resistance to justify entering long from a risk/reward perspective. On the other, the absence of a bearish reversal signal warns against taking up the short side. With that in mind, standing aside seems most sensible.

Build confidence in your own AUD/USD strategy with the help of our free guide!

AUD/USD Technical Analysis: Trend Reversal in the Works?


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak onTwitter

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

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