Australian dollar turnaround continues – orders

View Comments

The Australian dollar fell to a cycle low overnight but began a turnaround in Europe. I suspect the bears are taking some profits with with Chinese stocks near support.

In any case, it’s impressive to see the Aussie up a half-cent on a day when the Shanghai composite fell 5.3% and perhaps it points to a broader bounce. The daily chart shows a bullish engulfing candle on a close above 0.9259 (spot is at 0.9270). Look for buy stops above 0.9290 but strong offers ahead of 0.9300.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.


All|Americas|Forex Orders|Regions

Adam Button


  1. Hi Adam,
    Are we seeing more up gor the AUD/JPY?

  2. AUD/JPY looks like it’s starting to turn.

  3. Hi Adam,

    Can you make any sense of what is going on with AUDCHF? Is it truly just indicative of aussie strength today

  4. I think the shorts are being covered.


© Copyright 2015 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.