The AUDUSD continues its advance
Upside breakout from a short-term bearish channel.
Share this:
The US Dollar was bearish against all of its major pairs on Tuesday. On the US economic data front, no major economic data was released.
On Wednesday, Wholesale Inventories for the November preliminary reading are expected to rise 0.6% on month, compared to +1.1% in the October final reading. Market News International's Chicago Business Barometer for December is expected to slip to 56.0 on month, from 58.2 in November. Finally, Pending Home Sales for November are expected to release unchanged, compared to -1.1% in October.
The Euro was bearish against most of its major pairs with the exception of the USD. In Europe, no major economic data was released.
The Australian dollar was bullish against most of its major pairs with the exception of the NZD and CHF.
From a chartist's point of view, on a daily chart, the AUD/USD currency pair has continued its intermediate-term uptrend after the pair broke out to the upside of a short-term bearish channel on December 24th. The 20-day simple moving average (SMA) is above the 50-day SMA, a bullish signal. The pair's next resistance levels are at 0.7675 and 0.7810. If the pair slips then traders should look to the 20-day SMA for support. If the 20-day SMA fails to support the pair, it would be a bearish signal that could send it back to 0.7455. If the decline is not halted at 0.7455, the pair could drop back to 0.7330.
Source: GAIN Capital, TradingView
On Wednesday, Wholesale Inventories for the November preliminary reading are expected to rise 0.6% on month, compared to +1.1% in the October final reading. Market News International's Chicago Business Barometer for December is expected to slip to 56.0 on month, from 58.2 in November. Finally, Pending Home Sales for November are expected to release unchanged, compared to -1.1% in October.
The Euro was bearish against most of its major pairs with the exception of the USD. In Europe, no major economic data was released.
The Australian dollar was bullish against most of its major pairs with the exception of the NZD and CHF.
From a chartist's point of view, on a daily chart, the AUD/USD currency pair has continued its intermediate-term uptrend after the pair broke out to the upside of a short-term bearish channel on December 24th. The 20-day simple moving average (SMA) is above the 50-day SMA, a bullish signal. The pair's next resistance levels are at 0.7675 and 0.7810. If the pair slips then traders should look to the 20-day SMA for support. If the 20-day SMA fails to support the pair, it would be a bearish signal that could send it back to 0.7455. If the decline is not halted at 0.7455, the pair could drop back to 0.7330.
Source: GAIN Capital, TradingView
The US Dollar was bearish against all of its major pairs on Tuesday. On the US economic data front, no major economic data was released.
On Wednesday, Wholesale Inventories for the November preliminary reading are expected to rise 0.6% on month, compared to +1.1% in the October final reading. Market News International's Chicago Business Barometer for December is expected to slip to 56.0 on month, from 58.2 in November. Finally, Pending Home Sales for November are expected to release unchanged, compared to -1.1% in October.
The Euro was bearish against most of its major pairs with the exception of the USD. In Europe, no major economic data was released.
The Australian dollar was bullish against most of its major pairs with the exception of the NZD and CHF.
From a chartist's point of view, on a daily chart, the AUD/USD currency pair has continued its intermediate-term uptrend after the pair broke out to the upside of a short-term bearish channel on December 24th. The 20-day simple moving average (SMA) is above the 50-day SMA, a bullish signal. The pair's next resistance levels are at 0.7675 and 0.7810. If the pair slips then traders should look to the 20-day SMA for support. If the 20-day SMA fails to support the pair, it would be a bearish signal that could send it back to 0.7455. If the decline is not halted at 0.7455, the pair could drop back to 0.7330.
Source: GAIN Capital, TradingView
On Wednesday, Wholesale Inventories for the November preliminary reading are expected to rise 0.6% on month, compared to +1.1% in the October final reading. Market News International's Chicago Business Barometer for December is expected to slip to 56.0 on month, from 58.2 in November. Finally, Pending Home Sales for November are expected to release unchanged, compared to -1.1% in October.
The Euro was bearish against most of its major pairs with the exception of the USD. In Europe, no major economic data was released.
The Australian dollar was bullish against most of its major pairs with the exception of the NZD and CHF.
From a chartist's point of view, on a daily chart, the AUD/USD currency pair has continued its intermediate-term uptrend after the pair broke out to the upside of a short-term bearish channel on December 24th. The 20-day simple moving average (SMA) is above the 50-day SMA, a bullish signal. The pair's next resistance levels are at 0.7675 and 0.7810. If the pair slips then traders should look to the 20-day SMA for support. If the 20-day SMA fails to support the pair, it would be a bearish signal that could send it back to 0.7455. If the decline is not halted at 0.7455, the pair could drop back to 0.7330.
Source: GAIN Capital, TradingView
Related tags:
Latest market news
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 Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
Japanese Yen Forecast: USD/JPY 4% Rally Challenges Post-Intervention Downtrend 9 24 2026
USD/JPY momentum has shifted sharply higher, putting a major resistance confluence in focus as U.S. and Japanese event risk builds.
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.