AUD/USD Forecast: At risk of falling further
Premium|You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
Your coupon code
FXS75
AUD/USD Current Price: 0.7705
- Australian markets to be closed in observance of the Australia Day.
- A dismal market mood pushed the pair lower in the American session.
- AUD/USD is bearish in the near-term, additional declines expected.
The AUD/USD pair fell to 0.7682, its lowest in a week during the American session, but managed to regain the 0.7700 level ahead of the daily close. The pair traded alongside sentiment, falling early in the US session as US indexes plummeted on speculation further coronavirus relief would be delayed a month or two. Australia started the week with an empty calendar, with activity in the country set to remain reduced on Tuesday amid the observance of Australia Day.
AUD/USD short-term technical outlook
The AUD/USD pair is at risk of extending its decline despite its latest recovery. The 4-hour chart shows that the 20 and 200 SMAs converge around 0.7735, providing dynamic resistance. The 200 SMA maintains its bullish slope around 0.7640. Technical indicators hold within negative levels without signs of bearish exhaustion. A steeper decline is to be expected once below the 0.7640 price zone.
Support levels: 0.7690 0.7640 0.7600
Resistance levels: 0.7735 0.7770 0.7815
AUD/USD Current Price: 0.7705
- Australian markets to be closed in observance of the Australia Day.
- A dismal market mood pushed the pair lower in the American session.
- AUD/USD is bearish in the near-term, additional declines expected.
The AUD/USD pair fell to 0.7682, its lowest in a week during the American session, but managed to regain the 0.7700 level ahead of the daily close. The pair traded alongside sentiment, falling early in the US session as US indexes plummeted on speculation further coronavirus relief would be delayed a month or two. Australia started the week with an empty calendar, with activity in the country set to remain reduced on Tuesday amid the observance of Australia Day.
AUD/USD short-term technical outlook
The AUD/USD pair is at risk of extending its decline despite its latest recovery. The 4-hour chart shows that the 20 and 200 SMAs converge around 0.7735, providing dynamic resistance. The 200 SMA maintains its bullish slope around 0.7640. Technical indicators hold within negative levels without signs of bearish exhaustion. A steeper decline is to be expected once below the 0.7640 price zone.
Support levels: 0.7690 0.7640 0.7600
Resistance levels: 0.7735 0.7770 0.7815
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.