AUD/USD Technical Analysis: Confirms a fresh bearish break through a flag chart pattern
|• The pair struggled to capitalize on late-Friday/early Monday attempted recovery move and remains within striking distance of over one-month lows set in the previous session.
• Given last week's slump, the corrective bounce along an ascending trend-channel constituted towards the formation of a bearish continuation flag chart pattern on the 1-hourly chart.
• With technical indicators on hourly/daily charts holding in the bearish territory, weakness below the said trend-channel now seems to have confirmed a fresh bearish breakdown.
• Hence, a follow-through weakness, possibly towards challenging the key 0.7000 psychological mark, amid resurfacing US-China trade tensions, now looks a distinct possibility.
AUD/USD 1-hourly chart
AUD/USD
Overview:
Today Last Price: 0.7074
Today Daily change %: -0.16%
Today Daily Open: 0.7085
Trends:
Daily SMA20: 0.7174
Daily SMA50: 0.7156
Daily SMA100: 0.7169
Daily SMA200: 0.7283
Levels:
Previous Daily High: 0.7107
Previous Daily Low: 0.706
Previous Weekly High: 0.7265
Previous Weekly Low: 0.706
Previous Monthly High: 0.7296
Previous Monthly Low: 0.6684
Daily Fibonacci 38.2%: 0.7078
Daily Fibonacci 61.8%: 0.7089
Daily Pivot Point S1: 0.7061
Daily Pivot Point S2: 0.7037
Daily Pivot Point S3: 0.7014
Daily Pivot Point R1: 0.7108
Daily Pivot Point R2: 0.7131
Daily Pivot Point R3: 0.7155
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