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
EUR/USD
Bearish
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
Bearish
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
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
GBP/USD
Bearish
USD/JPY
Bearish
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
More View more
Real Time News
  • BOC's Macklem says longer-term bond purchases increases monetary stimulus provided per dollar purchased $USDCAD
  • BOC's Macklem says economic setback could tighten financial conditions significantly $USDCAD
  • BOC's Macklem says purchases of longer-term bonds more effective - BBG
  • We are the cusp of a technical correction (-10% from highs) for the Dow
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇨🇭CHF: -0.20% 🇬🇧GBP: -0.48% 🇨🇦CAD: -0.96% 🇳🇿NZD: -1.07% 🇦🇺AUD: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/IihtE4FL0A
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -2.73% Wall Street: -2.80% FTSE 100: -3.33% France 40: -4.21% Germany 30: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LdaGMmi2NS
  • With the VIX at 40 and a lot of technical breaks across various indices, it's looking pretty ugly out there today I'll be going live in 15 minutes to talk through some of the most important levels and events. Join here - https://t.co/nTpoA2moq4
  • 🇺🇸 EIA Cushing Crude Oil Stocks Change (23/OCT) Actual: -0.422M Previous: 0.975M https://www.dailyfx.com/economic-calendar#2020-10-28
  • 🇺🇸 EIA Distillate Stocks Change (23/OCT) Actual: -4.491M Expected: -2.065M Previous: -3.832M https://www.dailyfx.com/economic-calendar#2020-10-28
  • GBP/USD looks likely to continue to trade around the 1.30 level as the talks between the EU and the UK on their future trade relationship continue.Get your $GBPUSD market update from @MartinSEssex here:https://t.co/cFyXdKJICz https://t.co/Fot9peW4aX
AUD/USD Technical Analysis: Key Aussie Dollar Support at Risk

AUD/USD Technical Analysis: Key Aussie Dollar Support at Risk

2020-01-23 05:00:00
Ilya Spivak, Head Strategist, APAC
Share:

AUD/USD TECHNICAL OUTLOOK: BEARISH

  • Aussie Dollar threatening four-month support against its US namesake
  • Break confirmed on a daily close may signal bearish trend resumption
  • Long-term chart setup continues to suggest sellers have the upper hand

The Australian Dollar has fallen as expected, building on an initial support break following the formation of a bearish Evening Star candlestick pattern. Prices have touched six-week lows and are now testing the bounds of the uptrend established from October’s swing bottom.

Confirmation of a break below this barrier on a daily closing basis would suggest that a upside correction has run its course, setting the stage for the longer-term downtrend to resume. The first major hurdle facing sellers thereafter lines up in the 0.6671-90 area, a floor in play since early August.

AUD/USD Technical Analysis: Key Aussie Dollar Support at Risk

AUD/USD daily chart created with TradingView

Initial resistance is marked by a falling trend line resistance set form the December 31 swing high. Most recently, this barrier has held conspicuously intact in the wake of better-than-expected local jobs data. Securing a foothold above that eyes an inflection barrier at 0.6930 next, followed by the peak at 0.7032.

Starts in:
Live now:
Nov 02
( 02:11 GMT )
Recommended by Ilya Spivak
Cross-Market Weekly Outlook
Register for webinar
Join now
Webinar has ended

The monthly chart suggests the overall trajectory still favors depreciation. December marked a retest of support-turned-resistance in the 0.6900-0.7018 area but the structural decline that overturned a 17-year uptrend in mid-2018 remains intact, warning that extension into the 0.6001-0.6350 zone may be ahead.

Australian Dollar vs US Dollar price chart - monthly

AUD/USD monthly chart created with TradingView

AUD/USD TRADER SENTIMENT

AUD/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -1% -17% -10%
Weekly -19% -2% -11%
What does it mean for price action?
Get My Guide

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