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.



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
Wall Street
More View more
Real Time News
  • ETH now breaking below its 200DMA - May 23rd low at 1736
  • BoE's Haskel (Dove) has been appointed for a second term Catherine Mann appointed to the BoE's MPC and will replace Vlieghe who is leaving the MPC in August
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 85.96%, while traders in GBP/JPY are at opposite extremes with 68.05%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min)
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Silver: -0.05% Oil - US Crude: -0.57% View the performance of all markets via
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.09% 🇳🇿NZD: -0.13% 🇨🇦CAD: -0.17% 🇨🇭CHF: -0.28% 🇬🇧GBP: -0.40% 🇦🇺AUD: -0.42% View the performance of all markets via
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.17% Wall Street: -0.09% US 500: -0.12% France 40: -0.16% Germany 30: -0.20% View the performance of all markets via
  • Russian Energy Source says good timing to further ease oil cuts in August, despite expected Iranian oil export return as market is in deficit
AUD/USD Technical Analysis: Aussie Dollar Topping Still in Play

AUD/USD Technical Analysis: Aussie Dollar Topping Still in Play

Ilya Spivak, Head Strategist, APAC


  • Aussie Dollar selloff struggles to extend but bearish bias still valid
  • Daily close above April high needed to neutralize selling pressure
  • Shift in trader sentiment bolsters the case for an oncoming reversal

The Australian Dollar bounced after a retest of resistance-turned-support at a falling trend line that had been guiding it lower for most of the year until a recent breakout. Swing top resistance at 0.6570 remains in play however, implying that the bearish bias established by the breach of rising counter-trend support on May 1 continues to be valid.

With that in mind, the spotlight on the downside is initially on the 0.6214-54 inflection zone. Breaking below that on a daily closing basis may set the stage for a probe below the 0.60 figure. Alternatively, establishing a foothold back above 0.6570 may neutralize immediate selling pressure and open the door to retest the underside of formerly long-standing range support in the 0.6671-90 area.

Australian Dollar vs US Dollar price chart - daily

AUD/USD daily chart created with TradingView


Retail sentiment data shows 57.01% of traders are net-short, with the short-to-long ratio at 1.33 to 1. IG Client Sentiment (IGCS) is typically used as a contrarian indicator, so traders being net-short suggests a bullish AUD/USD trend bias. However, the net-short skew has narrowed relative to yesterday and compared with last week. This warns thatthe Aussie Dollar may soon reverse lower.

Australian Dollar vs US Dollar price, trader sentiment

See the full IGCS sentiment report here.


--- Written by Ilya Spivak, Currency Strategist for

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.