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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here. #DailyFXGuides
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here:
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
AUD/USD Tests Key Chart Level - Australian Dollar Price Outlook

AUD/USD Tests Key Chart Level - Australian Dollar Price Outlook

Mahmoud Alkudsi, Analyst

Aussie Dollar vs US Dollar Technical Forecast

  • Weaker downtrend move, yet bears have not given up control
  • Signals and trading zones to consider on AUD vs USD chart

AUD/USD- Interrupted Recovery

Last week, Aussie Dollar rallied against US Dollar and printed 0.6214 – its highest level in nearly three weeks. However, the price fell after, and settled below the 0.6000 threshold. On Friday, the weekly candlestick closed in the red with 2.6% loss.

Alongside that, the relative Strength Index (RSI) abandoned oversold territory yet, remined below 50 highlighting that downtrend move was still intact.

AUD/USD DAILY PRICE CHART (DEC 1, 2018 – April 6, 2020) Zoomed Out

AUDUSD daily price chart 06-04-20 zoomed out
Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

AUD/USD DAILY PRICE CHART (DEC1 – April 6, 2020) Zoomed IN

AUDUSD daily price chart 06-04-20 zoomed in

Looking at the daily chart, we noticed that at the start of last week AUD/USD U turned and pressed towards current trading zone 0.5796 – 0.6009 indicating that bears were not done yet.

That said, any close above the high end of the zone reflects bears hesitation. This could cause a rally towards 0.6409. Further close above that level could extend the rally towards 0.6684. In that scenario, the daily and weekly resistance areas and levels marked on the chart (zoomed in) should be watched closely.

On the other hand, another close below the high end of the zone may encourage bears to press towards the low end of it. Further close below that level could send AUDUSD even lower towards 0.5393. Having said that, the weekly support levels underscored on the chart should be monitored.

Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

AUD/USD Four-Hour PRICE CHART (Mar 18 – April 6, 2020)

AUDUSD four hour price chart 06-04-20

From the four- hour chart, we noticed that on Tuesday AUD/USD corrected its uptrend move as curved out a lower high at 0.6159. On Thursday, the price leaned to the downside and broke below the uptrend line originated from the March 23 low at 0.5700, then created a lower high with a lower low.

Thus, a break below 0.5945 could be considered another bearish signal. This increases the likelihood for AUDUSD to test 0.5796. Yet, the weekly support underlined on the chart should be kept in focus. In turn, any break in the other direction i.e. above 0.6109 may cause a rally towards 0.6248. Nevertheless, the daily resistance level printed on the chart should be considered.

USD Forecast
USD Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q1 main currencies Forecast
Get My Guide

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.