AUD/USD Technical Analysis: AUD is proving key trendline support
|- AUD/USD is currently chipping away at the trendline connecting the Nov. 13 and Nov. 27 low.
- A close below that level would confirm that the pair has topped out at the 200-day MA on Dec. 3 and would open the doors for a deeper drop to 0.71.
- The 14-day relative strength index (RSI) has dropped into bearish territory below 50.00 and the 5-day and 10-day moving averages (MAs) are beginning to slope downwards. So, the pair could close below the key trendline support today.
- The breakdown, however, may happen after a minor bounce as the RSI on both the hourly and 4-hour chart is reporting oversold conditions.
Daily chart
Trend: Bearish
AUD/USD
Overview:
Today Last Price: 0.7221
Today Daily change: -48 pips
Today Daily change %: -0.660%
Today Daily Open: 0.7269
Trends:
Previous Daily SMA20: 0.7267
Previous Daily SMA50: 0.7185
Previous Daily SMA100: 0.724
Previous Daily SMA200: 0.7416
Levels:
Previous Daily High: 0.7356
Previous Daily Low: 0.7259
Previous Weekly High: 0.7345
Previous Weekly Low: 0.7199
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7296
Previous Daily Fibonacci 61.8%: 0.7319
Previous Daily Pivot Point S1: 0.7233
Previous Daily Pivot Point S2: 0.7198
Previous Daily Pivot Point S3: 0.7136
Previous Daily Pivot Point R1: 0.733
Previous Daily Pivot Point R2: 0.7392
Previous Daily Pivot Point R3: 0.7428
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.