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AUD/USD Technical Commentaries

Waiting for a Washout to Cover AUDUSD

IN GENERAL - The global growth slowdown trade continues to work. Crude and copper are off 2% to start the week while the USD and JPY are up. The next level of interest for crude is a November pivot below 9100. Copper is trading at its lowest level since January and the 2012 low at 3.3925 is significant. Expect a free fall type decline if that level gives way.

By Jamie Saettele | May 14 | DailyFX

AUDUSD Nears Trendline, USDCAD Support Closer to 9900

IN GENERAL - Work down from larger degrees of trend. Markets (crude, copper, equities especially small caps, and commodity FX) are on the way down after forming multiyear topping patterns. Many of these topping patterns take the form of head and shoulders tops. Strength should be sold.

By Jamie Saettele | May 11 | DailyFX

EURUSD Gaps Lower and AUDUSD Trades to 2012 Low

The AUDUSD traded to a new 2012 low last night, slipping below the 1/9/12 low of 10145. Focus is on the 12/29/11 low at 10044 and confluence of the 100% extension of the decline from 10856 and 12/15/11 low at 9843/61. The level intersects channel support in early June. The bounce from last night's low has reached resistance from 10200. Former lows at 10225 and 10245 are also resistance.

By Jamie Saettele | May 07 | DailyFX

Dollar Breaks Down; Canadian Dollar of Interest across the Board

I've been here many times before; plagued by false breaks in the direction of the US Dollar only to see markets move quickly towards USD weakness and continue in that direction for several big figures, and usually farther than most think possible. In the current environment of central bank meddling, the USD bottoms at the end of credit inflation and the USD tops at the end of credit deflation.

By Jamie Saettele | Apr 27 | DailyFX

Markets Held Hostage Awaiting FOMC

Markets are awaiting Bernanke's testimony tomorrow. As a result, significant moves are unlikely until tomorrow. Little has changed regarding current trend and pattern.

By Jamie Saettele | Apr 24 | DailyFX

Risk Currencies on Verge of Collapse against US Dollar

EURUSD - I wrote Friday that "the end of week rally is probably a last gasp before reality sets in for the EURUSD." Today's action confirms as much. Look lower towards 12900 and channel support. Watch the channel closely as a drop below would be a 'tell' that the decline from 13379 is a 3rd wave rather than a C wave. 13160 is short term resistance.

By Jamie Saettele | Apr 23 | DailyFX

NZDUSD Pattern is Bearish Pre-CPI

EURUSD - "Rallies since the March low have unfolded in a corrective manner (3 waves). The suggestion is that the larger trend is down. Focus remains on 12900 and price ideally stays under 13212 although 13379 is the key trend defining level.".

By Jamie Saettele | Apr 18 | DailyFX

German Stock Market Pattern Favors Bearish Macro Outlook

DAX - With focus back on Europe, keep an eye on the German DAX. The rally from the September low appears complete in 3 waves. Expect resistance at 6763 (and watch short term Elliott channel resistance).

By Jamie Saettele | Apr 16 | DailyFX

AUD/USD Trying to Maintain Bullish Breakout Momentum

The 4H AUD/USD chart shows a market that formed a double bottom after breaking below a rising trendline. Then, after positive employment data, the market broke above a declining trendline and invalidated the bearish breakout. After the upside push, the RSI reading tagged 70.

By Fan Yang | Apr 16 | FX Times

Buying US Dollars on Dips

S&P - Currently testing former resistance from early March highs, the goal should be to sell rallies against the first day of the month high. 1383/86 is resistance and focus is on the March low at 1340.90.

By Jamie Saettele | Apr 09 | DailyFX

Daily Technical Levels Oil, Gold, EUR/USD, GBP/USD, USD/CAD, USD/JPY, AUD/USD, USD/CHF

The Reserve Bank of Australia has left the cash rate at 4.25 per cent after its April board meeting on Tuesday. The local currency was trading at 104.55 US cents at 1429 AEST just before the decision was announced, and fell to 104.15 US cents.

By Shayne Heffernan | Apr 03 | LiveTradingNews

US Dollar Outlook

USD steady in quiet trade. 10-Yr: +16/32..2.196%.. USD-JPY: 83.08.. EUR-USD: 1.3334. The USD index's session was quiet Tuesday as trade was capped near 79.05 all session long. EUR-USD is -20 pips at 1.3335 after earlier buying was unable to crack the resistance at 1.3400.

By Paul A. Ebeling, Jnr. | Mar 28 | LiveTradingNews