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
More View more
Real Time News
  • Maybe this time we will get a genuine resolution rather than a patch within two weeks of disaster, but my cynicism says it's going to be another crisis management event
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: -0.15% Oil - US Crude: -0.25% Silver: -0.51% View the performance of all markets via
  • US Treasury Sec. Yellen: - Congress needs to act in order to protect US credit $SPX $USD $DXY
  • Gold prices plummeted more than 2.2% off the monthly high last week with the XAU/USD reversing off multi-month downtrend resistance. Get your $XAUUSD market update from @MBForex here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.16%, while traders in GBP/JPY are at opposite extremes with 76.92%. See the summary chart below and full details and charts on DailyFX:
  • US Treasury Sec. Yellen: - We will continue to use extraordinary measures through December 3 to avoid hitting the debt limit $USD $DXY
  • China's Treasuries holdings hit lowest since 2010, Japan at record high - BBG
  • 🇺🇸 Overall Net Capital Flows (AUG) Actual: $91B Previous: $164.1B
  • 🇺🇸 Foreign Bond Investment (AUG) Actual: $30.7B Previous: $10.2B
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.31% Germany 30: 0.06% France 40: -0.00% Wall Street: -0.00% FTSE 100: -0.08% View the performance of all markets via
AUD/USD Technical Analysis: Trend Bias Bearish in Choppy Trade

AUD/USD Technical Analysis: Trend Bias Bearish in Choppy Trade

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Strategy: BEARISH

  • Aussie Dollar still stuck in a choppy range centered on 0.71 figure
  • Descending Triangle setup may set the stage for bearish resumption
  • Daily close below 0.6982 needed as confirmation of a breakdown

Get help building confidence in your AUD/USD strategy with our free trading guide!

The Australian Dollar is struggling to find lasting direction against its US counterpart, with prices oscillating in a choppy range broadly centered around the 0.71 figure. This is despite bursts of volatility, triggered most recently by the RBA rate decision as well as better-than-expected retail sales and trade data.

Overall positioning continues to hint at a downside bias however. Prices appear to be carving out a descending Triangle pattern, a setup that typically carries bearish implications. Its validation on a daily close below support in the 0.6982-0.7021 area may set the stage to resume the downtrend form January 2018 highs.

The first major downside threshold thereafter comes in at the 0.69 figure, followed by the January 2016 low at 0.6827. Hefty resistance runs through is marked by a falling channel top and the Triangle pattern top. A daily close above its outer layer 0.7196 targets the January 31 high at 0.7295.

Australian Dollar vs US Dollar chart - daily


--- Written by Ilya Spivak, Currency Strategist for

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.