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
Oil - US Crude
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
Wall Street
Bullish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/TIZQzitE1j
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.37% Gold: -0.28% Silver: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3xWt8YB351
  • The opening range for April raises the scope for a further decline in the US Dollar Index (DXY) as the monthly high (93.34) lines up with the first day of the month. Get your market update from @DavidJSong here: https://t.co/3iHUdOz7Oy https://t.co/ZmsEtSOICA
  • New Zealand Dollar Forecast: NZD/USD, NZD/JPY Key Levels with RBNZ on Tap - https://www.dailyfx.com/forex/market_alert/2021/04/12/New-Zealand-Dollar-Forecast-NZDUSD-NZDJPY-Key-Levels-with-RBNZ-on-Tap.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $NZD $NZDUSD $NZDJPY https://t.co/tziU8yPkpm
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇪🇺EUR: -0.10% 🇨🇭CHF: -0.13% 🇬🇧GBP: -0.17% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ALbF5MkoCp
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.01%, while traders in France 40 are at opposite extremes with 82.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SJNlYSTnZU
  • Dow Jones, Nikkei 225, ASX 200 Outlook: Bank Earnings in Focus as US Stocks Hit Records https://www.dailyfx.com/forex/market_alert/2021/04/12/Dow-Jones-Nikkei-225-ASX-200-Outlook-Bank-Earnings-in-Focus-as-US-Stocks-Hit-Records.html https://t.co/lGG8J2ntXT
  • Is the Eurozone entering into a second debt crisis? Find out here: https://t.co/27Y8gKO0xY https://t.co/VRfjvmBq6N
  • 🇯🇵 PPI YoY (MAR) Actual: 1% Expected: 0.5% Previous: -0.6% https://www.dailyfx.com/economic-calendar#2021-04-11
  • 🇯🇵 PPI MoM (MAR) Actual: 0.8% Expected: 0.4% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-11
AUD/USD Technical Analysis: Aussie Dollar Repelled at Trend Top

AUD/USD Technical Analysis: Aussie Dollar Repelled at Trend Top

Ilya Spivak, Head Strategist, APAC

AUD/USD TECHNICAL OUTLOOK: BEARISH

  • Australian Dollar rejected at 11-month downtrend resistance vs USD
  • Break of near-term support to beckon next leg of the structural decline
  • Longer-term positioning suggests scope to test 2008-2009 crisis lows

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

The Australian Dollar is back on the defensive after testing resistance establishing the downtrend against its US counterpart since December 2018. Last week’s resistance break has been overturned and AUD/USD is back to challenge support guiding it higher since the beginning of October.

A break below this barrier confirmed on a daily closing basis would suggest the corrective upswing has been exhausted and the dominant bearish trajectory resumed. A down leg broadly in line with the trend average may see prices testing decade lows near the 0.66 figure.

Australian Dollar vs US Dollar price chart - daily

Daily AUD/USD chart created with TradingView

Longer-term positioning looks still-more ominous. The 2018 break of a 17-year uptrend and the subsequent breach of the 0.69 figure in July of 2019 seems put prices broadly on course to retest lows in the 0.6009-0.6352 region, where prices have not ventured since the 2008 financial crisis.

AUD/USD Technical Analysis: Aussie Dollar Repelled at Trend Top

Monthly AUD/USD chart created with TradingView

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