Australian Dollar Technical Outlook: AUD/USD Reversal Puts the Uptrend to the Test
AUD/USD reversed sharply off key resistance last week, with bulls now attempting to stabilize the multi-month advance ahead of key U.S. jobs data.
Share this:
Australian Dollar Technical Outlook: AUD/USD Multi-Timeframe Analysis
The Australian dollar reversed off a multi-year resistance zone after an eight-week advance, leaving U.S. jobs data to set the next move. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily and four-hour charts and explains where the uptrend stays intact and what would signal it is breaking. He also maps the event risk driving the pair, starting with Australian second quarter GDP and running through the ADP private sector employment report and Friday's nonfarm payrolls. Federal Reserve rate expectations swung sharply after the Jackson Hole Economic Symposium, and the employment data can reset them again.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key AUD/USD Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- Euro Short-term Outlook: EUR/USD Pullback Nears Pivotal Uptrend Support
- Canadian Dollar Short-term Outlook: USD/CAD Recovery Reaches Downtrend Resistance
- British Pound Short-term Outlook: GBP/USD Bulls Confront Resistance at Three-Month Highs
- Gold Price Short-term Outlook: XAU/USD Breakout Faces a Defining Test
- US Dollar Short-term Outlook: USD Correction Pressures Pivotal Support
- Swiss Franc Short-term Outlook: USD/CHF Rally Presses Yearly Trend Resistance
- Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens
--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on Twitter @MBForex
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD, GBP/USD Price Outlook: Can the Dollar Pullback Fuel a Bullish Rebound?
Could EUR/USD and GBP/USD be confirming a bullish rebound? The DXY’s pullback from the 103 resistance level may support a recovery in both pairs, although confirmation is still needed.
DAX Rebounds, but 25,600 Remains the Level to Hold
The DAX continues to recover from last week's sell-off, supported by easing energy concerns and improving short-term momentum. While buyers have regained control of the four-hour trend, the index is now approaching a critical resistance zone between 25,450 and 25,600. A decisive break higher would strengthen the bullish case and open the door toward 25,800, while failure at resistance could quickly revive downside pressure.
ASX 200 Outlook: A Rates Trade Disguised as a Stock Market?
Australian bond futures have exhibited a far stronger relationship with the ASX 200 than Wall Street over recent months. Now both markets are displaying remarkably similar price structures.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.