AUD/USD Technical Analysis: Aussie near daily lows - 0.7400 target still on
|- AUD/USD bear is on hold for the 6th consecutive day as bulls are creating a bullish pullback.
- AUD/USD is evolving in a bull channel with a rising 200-period simple moving average (SMA) suggesting bullish momentum. The 50 SMA crossed below the 100 SMA suggesting that the market is in pullback mode. Targets to the upside are located near 0.7380 and 0.7407 May 8 low.
- A sustained bear breakout below 0.7294 would invalidate the bullish bias.
Spot rate: 0.7346
Relative change: -0.28%
High: 0.7371
Low: 0.7332
Main trend: Bearish
Short-term trend: Bullish above 0.7294
Resistance 1: 0.7364 June 28 high
Resistance 2: 0.7380 June 26 low
Resistance 3: 0.7407 May 8 low
Support 1: 0.7345 August 3 low
Support 2: 0.7294 August 13 high
Support 3: 0.7255 August 13 low
Support 4: 0.7200 figure
Support 5: 0.7159 December 26, 2016 low
Support 6: 0.7100 figure
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.