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.

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
Mixed
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
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • President Biden: - We agreed to do more to enhance the resilience of critical infrastructure around the world - More work to do to beat the virus; we cannot let our guards down
  • AUD/USD is little changed from the start of the year as the Reserve Bank of Australia (RBA) remains reluctant to normalize monetary policy. Get your $AUDUSD market update from @DavidJSong here:https://t.co/nkHYQMMv4F https://t.co/V70PNu3FRd
  • President Biden: - Endorsed new (NATO) cyber defense policy - Adopted climate security plan (NATO)
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
AUD/USD Technical Analysis: Is the Aussie Dollar Rebound Over?

AUD/USD Technical Analysis: Is the Aussie Dollar Rebound Over?

Ilya Spivak, Head Strategist, APAC

AUD/USD TECHNICAL OUTLOOK: BEARISH

  • Australian Dollar rebound meets stiff resistance at 0.60 figure
  • Near-term chart positioning hints downtrend may be resuming
  • Trader sentiment studies challenging the bearish narrative

The Australian Dollar turned higher against its US counterpart after sliding to an almost 8-year low below the 0.56 figure. Prices climbed above initial resistance at 0.5869, the 23.6% Fibonacci expansion, but the move higher was met with stiff pushback at former support marked by the October 2008 low at 0.6009.

Australian Dollar vs US Dollar price chart - daily

AUD/USD daily chart created with TradingView

Turning to the four-hour chart for a sense of the nearer-term trajectory, it seems as though prices are resuming the dominant downtrend having broken upward-sloping support set from the March 18 low. The swing top is marked by a bearish Evening Star candlestick pattern.

If the trend line holds up as resistance on a retest, bearish resumption may see prices probe back down to the 38.2% Fibonacci expansion at 0.5623. Alternatively, invaliding topping cues would entail pushing above Evening Star formation high at 0.6073 and securing a foothold there.

Australian Dollar vs US Dollar price chart - 4 hour

AUD/USD 4-hour chart created with TradingView

AUD/USD TRADER SENTIMENT

Australian Dollar vs US Dollar price, trader sentiment

Retail sentiment data shows 58.41% of traders are net-long, with the long-to-short ratio at 1.40 to 1. IG Client Sentiment (IGCS) is typically used as a contrarian indicator, so traders being net-long suggests AUD/USD may continue to fall.

However, the net-long skew in overall positioning has diminished relative to the prior session and the week before. This warns that while the aggregate bias remains bearish, recent changes in traders’ exposure warn that a reversal higher may be brewing ahead.

See the full IGCS sentiment report here.

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