The Australian dollar has rallied a bit during the day on Monday, showing signs of life again, but quite frankly I think there is a lot of resistance above. This is seen at the gap near the 0.7450 level, where I would expect to see a lot of sellers come in. Longer-term, we have several hammers on the weekly chart, so that of course shows a certain amount of support below, especially near the 0.7350 level. In general, this is a market that I think will continue to move on to risk appetite in trade war fears with Asia and particular focus.

Pay attention to the Gold markets as per usual, as gold has a major influence on the Aussie dollar, as is well known. I believe that there is a certain amount of support near the 0.74 level underneath, and of course if we break down below there we would see a lot of support just above the 0.7350 level based upon weekly charts. I don’t think we’ll break down below there, I think what we are looking at is a lot of consolidation in this general vicinity, as there seems to be a lot of confusion.

The 0.75 level above is resistance, so if we were to rally from here and break above that level, then we become more of a “buy-and-hold” type of situation. I think we are going to see a lot of noise right now, and that’s just the way it’s going to be in the foreseeable future. Employ a back-and-forth range bound strategy.

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.


All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.


Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.