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.

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
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
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
Bullish
GBP/USD
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
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
  • EUR/USD holding proven support level. Pullback may be over, but hurdles yet to cross. Get your $EURUSD market update from @PaulRobinsonFX here:https://t.co/v06OWd3Vqp https://t.co/acFOm0Jtq9
  • The price of oil pulls back from a fresh monthly high ($66.76) despite a larger-than-expected contraction in US inventories. Get your market update from @DavidJSong here: https://t.co/uxLol8LbDH https://t.co/7pcNZa2kSC
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.61% 🇨🇭CHF: 0.53% 🇪🇺EUR: 0.50% 🇯🇵JPY: 0.12% 🇳🇿NZD: -0.02% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/G1tbmnQXlH
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.19% Wall Street: 0.12% France 40: 0.02% Germany 30: -0.16% US 500: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7TV6gNkFhX
  • The Dollar's drop was not as clean against all of its major counterparts, but the $DXY's trade weighting translated EURUSD's rally into a bearish wedge break here. That said, this still qualifies as an inverse head-and-shoulders pattern https://t.co/FNg92kAOfP
  • IMF says downside risks are materializing in India $USDINR #NIFTY50
  • Dallas Fed's Kaplan: -Fed likely to achieve 'substantial progress' metric faster than expected -There are side effects from bond purchases -Still supports bond purchases but economy has improved faster than anticipated -Fed to reach full jobs, price goals some time in 2022
  • Key break higher for gold this morning as it pushes above $1800 for the first time since February https://t.co/Ih2e5I7ddS
  • Hey traders! Risk trends continue to struggle for clarity of direction. Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/TYFzIJxlvR
  • This bull flag pattern on $EURUSD played out as the textbooks usually project. The break to the upside is perhaps the path of least resistance - at least until we get back to the 1.2150 high, if we get there https://t.co/h5wOcHftl2
Australian Dollar Outlook: AUD/USD Price – Stuck in Consolidation Mode

Australian Dollar Outlook: AUD/USD Price – Stuck in Consolidation Mode

Mahmoud Alkudsi, Analyst

Aussie Dollar vs US Dollar Technical Forecast

  • Market concerns slow down the US dollar selloff
  • AUD vs USD price chart highlights a trendless move

AUD/USD – In The Green

Last week, AUD/USD rallied to its highest levels in a week then closed on Friday with a 0.4% gain. Yesterday, the monthly candlestick closed in the green with a near 3.5% gain.

The market rallied on the expectations of a V-shape recovery driven by central banks stimulus around the globe. Nonetheless, the US dollar recovered some territory against major currencies as investors weighed fears from the accelerating coronavirus cases against improving figures in the global economy.

AUD/USD DAILY PRICE CHART (AUG 20, 2018 – July 1, 2020) Zoomed Out

AUDUSD daily price chart 01-07-20 zoomed out

AUD/USD DAILY PRICE CHART (FEB 13 – July 1, 2020) Zoomed IN

AUDUSD daily price chart 01-07-20 zoomed in

On June 10, AUD/USD retreated to the current trading zone 0.6827 – 0.7015 then paused its upward trend and started a sideways move creating a lower high with a higher low.

A close above the high end of the zone indicates that AUDUSD could resume bullish price action towards the 0.7300 handle and any further close above that level may extend the rally towards 0.7414.

On the other hand, a close below the low end of the zone reflects bull’s weakness and may cause a selloff towards 0.6684. Any further close below that level could send the pair even lower towards 0.6409.

AUD/USD Four-Hour PRICE CHART (June 6 – July 1, 2020)

AUDUSD four hour price chart 01-07-20

Last week, AUD/USD broke above the lower downtrend line originated from the June 10 high at 0.7064, and generated a bullish signal.

Today, the price tests the higher downtrend line originated from the aforementioned high. Thus, a break above this line would generate another bullish signal while any successful break below the uptrend line originated from the June 22 low at 0.6814 would generate a bearish signal.

To conclude, a break above 0.6958 may cause a rally towards the high end of the current trading zone discussed above on the daily chart while a break below 0.6774 may send AUDUSD towards 0.6707.Nonetheless, the weekly support and resistance levels marked on the four-hour chart should be considered.

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.

DISCLOSURES