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
More View more
Real Time News
  • Heads Up:🇨🇭 Balance of Trade (SEP) due at 06:00 GMT (15min) Previous: CHF4.5B
  • Heads Up:🇨🇳 FDI (YTD) YoY (SEP) due at 06:00 GMT (15min) Previous: 22.3%
  • 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:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.84%, while traders in GBP/JPY are at opposite extremes with 76.20%. See the summary chart below and full details and charts on DailyFX:
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.58% 🇦🇺AUD: 0.56% 🇪🇺EUR: 0.35% 🇨🇦CAD: 0.29% 🇬🇧GBP: 0.29% 🇯🇵JPY: 0.18% View the performance of all markets via
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.15% Germany 30: 0.13% FTSE 100: 0.09% US 500: 0.01% Wall Street: -0.04% View the performance of all markets via
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • The Fed 2022 rate forecast is at nosebleed levels, but the Dollar still isn't following along. Will it be drug lower if the outlook sours? And what will happen to the S&P 500 as it closes back in on its record high?
  • Markets move in cycles, and stocks do too, with certain sectors carrying more attraction in various backdrops. Learn more here:
Australian Dollar: AUD/USD Price – Faces A Key Support Level

Australian Dollar: AUD/USD Price – Faces A Key Support Level

Mahmoud Alkudsi, Analyst

Aussie Dollar vs US Dollar Technical Forecast

  • A combination of a weaker risk-on sentiment and bad data pauses AUD/USD rally
  • Bearish signals on AUD vs USD price chart

AUD/USD – Bulls Pullback

On Wednesday, AUD/USD took off to a near eleven-month high at 0.7064 however, the price retreated after and closed the weekly candlestick in the red with a 1.4% loss.

The latest updates of a potential second wave of the Coronavirus in China and the resurgence of coronavirus cases in the US weighed on the market’s optimism and slowed down the US dollar selloff.

The Australian unemployment rate for May of 7.1% came worse than expected 7.0% nonetheless, with the eased lockdowns we may see an improvement in the unemployment numbers next month.

AUD/USD DAILY PRICE CHART (AUG 20, 2018 – June 18, 2020) Zoomed Out

AUDUSD daily price chart 18-06-20 zoomed out

AUD/USD DAILY PRICE CHART (FEB 13 – June 18, 2020) Zoomed IN

AUDUSD daily price chart 18-06-20 zoomed in

On May 19, AUD/USD resumed bullish price action creating higher highs with higher lows. However, on June 9 the price declined to the current trading zone 0.6827 – 0.7015 reflecting a weaker bullish sentiment.

A close below the low end of the aforementioned trading zone would correct the price lower and could send AUDUSD towards 0.6684. Any further close below that level may send the pair even lower towards 0.6409.

On the other hand, any close above the high end of the zone signals that bulls could push towards the 0.7300 handle. Any further close above that level may encourage bulls to extend the rally towards 0.7414.

See the daily chart (zoomed in) to know more about the key levels to monitor in both scenarios.

AUD/USD Four-Hour PRICE CHART (MAy 15 – June 18, 2020)

AUDUSD four hour price chart 18-06-20

On June 9, AUD/USD broke below the uptrend line originated from the June 3 low at 0.6856, and generated a bearish signal. On the following day, the price failed to rally above this line then declined further.

Today, the price broke below the uptrend line originated from the June 15 low at 0.6776 then rebounded from the same line later. Therefore, any violation of the uptrend line originated from the May 22 low at 0.6519 would generate another bearish signal while any break above the downtrend line originated from the June 10 high at 0.7064 would generate a bullish signal.

To conclude, a break below 0.6774 could send AUDUSD towards 0.6707 while, a break above 0.6925 may trigger a rally towards 0.6988.Nonetheless, the daily support and resistance marked on the four-hour chart should be kept in focus.

Written By: Mahmoud Alkudsi, Market Analyst

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.