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
Bearish
Oil - US Crude
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
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
GBP/USD
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
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/32hYzqhuZ9
  • The Australian Dollar sits on the crossroads of Treasury yields, the S&P 500 and US fiscal stimulus expectations. Will $AUDUSD gains slow? Chinese Q4 GDP and Australian jobs data are due. Get your market update from @ddubrovskyFX here: https://t.co/BsYmmWFYOH https://t.co/HhLqb2iVgk
  • #Gold prices have come under significant pressure to kick-off 2021. However, the formation of bullish technical patterns across multiple timeframes suggests that a rebound higher may be at hand. Get your market update from @DanielGMoss here: https://t.co/Dpf8N4Fh0T https://t.co/pnZpnM9yT5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/yCtLFemdNc
  • GBP underpinned as BoE downplays negative rates, alongside vaccine rollout. Get your market update from @JMcQueenFX here: https://t.co/n6V6uw0XV5 https://t.co/Toq2fxSdBE
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/5VzSt5Ak7R
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/Jkv0onMyZw
  • Why is JPY called a safe haven? What are some factors in its favor this quarter? Get your free forecast here: https://t.co/mzeJ5x73N3 #DailyFXGuides https://t.co/S4bwgGZxmw
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/T3W8CIg5iy
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/FPgZ5gkgrM
AUD/USD Sinks Past 2008 Crisis Low, NZD/USD May Follow

AUD/USD Sinks Past 2008 Crisis Low, NZD/USD May Follow

2020-03-19 06:00:00
Ilya Spivak, Head Strategist, APAC

AUD/USD, NZD/USD TECHNICAL OUTLOOK: BEARISH

The Australian Dollar was rejected downward after a brief recovery produced a test of trend line resistance in play since the beginning of the year, as expected. The subsequent collapse has breached lows set amid the 2008 global financial crisis, bringing the currency to its weakest in 18 years.

Prices are now testing support at 0.5567, the 100% Fibonacci expansion. Breaking below that with confirmation on a daily closing basis may set the stage for a challenge of the 0.5185-92 congestion area carved out between October 2000 and August 2002.

The 78.6% Fib at 0.5881 looks to be recast as immediate resistance in the event of a bounce. Recovering a foothold back above that might pave the way for a retest of the October 2008 low at 0.6009, followed by the 61.8% expansion at 0.6127.

Australian Dollar vs US Dollar price chart - daily

AUD/USD daily chart created with TradingView

Starts in:
Live now:
Jan 25
( 03:01 GMT )
Recommended by Ilya Spivak
Cross-Market Weekly Outlook
Register for webinar
Join now
Webinar has ended

The New Zealand Dollar has followed suit, overturning would-be signs of ebbing selling pressure. Prices are testing below the 78.6% Fibonacci expansion at 0.5691. A daily close below that may expose the 0.5327-0.5401 region. The prior crisis low at 0.4896 follows. Resistance begins at 0.5919, the 61.8% Fib.

AUD/USD Sinks Past 2008 Crisis Low, NZD/USD May Follow

NZD/USD daily chart created with TradingView

FX 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