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
Bullish
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
Oil - US Crude
Bullish
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
Wall Street
Bullish
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
More View more
Real Time News
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zHY7m https://t.co/Bz8Go9K72L
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.07% 🇳🇿NZD: 0.03% 🇨🇦CAD: 0.01% 🇪🇺EUR: -0.02% 🇬🇧GBP: -0.03% 🇨🇭CHF: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/A5TMlQSzQP
  • RT @BrendanFaganFx: Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment $AUD $USD #Australia Link: https://t.co/k…
  • $USDSGD broke under the key 1.3375 - 1.3389 inflection zone over the last 24 hours Took out the 50-day SMA as well, awaiting confirmation This may open the door to revisiting January lows, especially if US yields continue to lose upside momentum #Singapore #SGD https://t.co/pIXS201NhI
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.84%, while traders in France 40 are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7WRQzbHU0c
  • $AUDUSD is dropping following the March employment report, which showed a decrease in full-time jobs. The RBA highlighted the pandemic's outsized impact on full-time employment in the Feb monetary policy statement. Full-time change: -20.8k Part-time change: +91.5k https://t.co/rlgjmjb9kP
  • Nasdaq 100 Retreats as Coinbase Falls, May Cast a Shadow on Hang Seng and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/04/15/Nasdaq-100-Retreats-as-Coinbase-Falls-May-Cast-a-Shadow-on-Hang-Seng-and-ASX-200-.html https://t.co/ZvcDnwXQ4e
  • PBOC Conducts 150 billion Yuan of 1-year MLF at 2.95% - rolls over earlier MLF, TMLF with 150 billion Yuan MLF operations - BBG $USDCNH
  • 🇦🇺 Full Time Employment Chg (MAR) Actual: -20.8K Previous: 89.1K https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇦🇺 Unemployment Rate (MAR) Actual: 5.6% Expected: 5.7% Previous: 5.8% https://www.dailyfx.com/economic-calendar#2021-04-15
AUD/USD Technical Analysis: Choppy Aussie Range Belies Aim Lower

AUD/USD Technical Analysis: Choppy Aussie Range Belies Aim Lower

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Strategy: NET SHORT AT 0.7547

  • Aussie Dollar still locked in choppy range near 0.74 vs US namesake
  • Six-month down trend resistance held, making for broadly bearish bias
  • Short position remains active pending confirmation to scale up or exit

See our free guide to get help building confidence in your AUD/USD trading strategy!

The Australian Dollar remains locked in a choppy range near 0.74 against its US counterpart but the prevailing trend continues to favor the downside. Indeed, overall chart positioning is still defined by a series of lower highs and lows carved out since late January.

AUD/USD Technical Analysis: Choppy Aussie Range Belies Aim Lower

Near-term support is at 0.7335, a chart inflection point in play since mid-June 2016. A daily close below it paves the way for a retest of double bottom in the 0.7145-65 area. Alternatively, an upward push beyond the outer layer of trend resistance – now at 0.7505 – sees the next major upside hurdle above the 0.76 figure.

The short AUD/USD trade activated at 0.7608 and then scaled up near 0.7530 remains active. Choppy range-bound trade does not offer the needed confirmation to add to the trade or unwind it. The former needs evidence of bearish resumption while the latter calls for a clear-cut break of trend resistance.

With that in mind, opting for a wait-and-see approach seems most prudent for now as the deadlock is resolved and prices offer convincing near-term direction cues. A stop-loss on the cumulative position will be activated on a discretionary basis.

AUD/USD TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

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

DISCLOSURES