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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
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
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
Mixed
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
  • Major investment bank models have touted USD selling, given the outperformance in US equities relative to its counterparts over the past month. How is this likely to impact the month-end rebalancing? Find out from @JMcQueenFX here:https://t.co/MtNrHmXZpD https://t.co/YvoHlUsdVr
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/X15k6b4ZyB
  • The month of May saw equities rise across the board. The #Dow Jones and #DAX 30 will look to hold above nearby support while the #Nasdaq 100 may look to attack all-time highs. Get your #equities market update from @PeterHanksFX here: https://t.co/dQxkG68R0I https://t.co/cgfcOs14qG
  • There is a dramatic departure between yield curve pricing for a recession and other measures of near-term growth; the Q2’20 Atlanta Fed GDPNow is extremely alarming.Get your market update from @CVecchioFX here: https://t.co/eMd3T8EwDO https://t.co/56oUP6we9U
  • The #DAX has now closed the gap from the beginning of March with the index breaking above 61.8% fib at 11592. Get your DAX market update from @JMcQueenFX here: https://t.co/wr67nkxc8z https://t.co/CkxPZn1v3t
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/9CV6iZt40j
  • My weekend trading video: 'S&P 500 Rises on Trump China Presser, #NFPs and Rate Decisions Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/30/SP-500-Rises-on-Trump-China-Presser-NFPs-and-Rate-Decisions-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/ZvoGoibzj1
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/gngm5tKqjz
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/iL7xlHLBiF
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/B4MVrg8f6i
AUD/USD Technical Analysis: Aussie Dollar Top in Place Near 0.62?

AUD/USD Technical Analysis: Aussie Dollar Top in Place Near 0.62?

2020-04-01 05:00:00
Ilya Spivak, Head Strategist, APAC
Share:

AUD/USD TECHNICAL OUTLOOK: BEARISH

  • Australian Dollar breaks uptrend support after rejection near 0.62 mark
  • Downtrend resumption needs a break below range floor as confirmation
  • Trader sentiment studies flag bearish bias but level of conviction modest

The Australian Dollar seems to be making another attempt at re-engaging with its dominant downtrend following a rebound from mid-March lows. Negative RSI divergence spoke to ebbing upside momentum on a test of the 0.62 figure, and has been followed by a push through near-term rising trend support.

It is thus far unclear if what is to follow is a period of sideways consolidation or true bearish resumption. Establishing a foothold below immediate range floor support at 0.6050 would make for a compelling argument in favor of the latter scenario. A test of the 0.59 figure may follow.

Alternatively, a break and hold above the 0.6200-14 zone might neutralize current selling pressure. From there, the stage may be set for a move higher to challenge from the underside former support in the 0.6430-59 region, now recast as resistance.

Australian Dollar vs US Dollar price chart - 4 hour

AUD/USD 4-hour chart created with TradingView

Starts in:
Live now:
Jun 02
( 02:06 GMT )
Recommended by Ilya Spivak
AUD/USD Trading Preparation for the Week Ahead
Register for webinar
Join now
Webinar has ended

AUD/USD TRADER SENTIMENT

Australian Dollar vs US Dollar price, trader sentiment

Retail sentiment data shows 53.41% of traders are net-long, with the long-to-short ratio at 1.15 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.

Furthermore, the net-long skew in traders’ exposure is now more acute than yesterday or compared to the prior week. That seems to bolster confidence in a bearish bias. Nevertheless, the overall disparity between longs and shorts is relatively mild, warning that sentiment-based signaling may not be very potent.

See the full IGCS sentiment report here.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Ilya Spivak
Improve your trading with IG Client Sentiment Data
Get My Guide

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

News & Analysis at your fingertips.