Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

AUD/USD Bulls Hesitate As Doji Forms

Published 08/18/2014, 05:18 AM
Updated 07/09/2023, 06:31 AM

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • Doji Indicates Bulls Lost Steam At Nearby Resistance
  • Break of Trading Band Needed To Offer Clearer Signals

The Australian dollar is searching for direction above the 0.9280 mark with a Doji on the daily suggesting indecision amongst traders. A daily close above the former-range-bottom at 0.9330 would open a re-test of the recent highs near 0.9455.

AUD/USD: Bulls Lose Steam On Test of Nearby Resistance

AUD/USD Daily Chart

The four hour chart reveals a similar narrative to the daily. Choppy price action has seen several reversal signals emerge, yet few have found follow-through. Given the context afforded by the daily; a break of the 0.9280-0.9330 trading band would be required to offer a clearer technical basis.

AUD/USD: Reversal Signals See Little Follow-Through

AUD/USD Daily Chart

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.