News

AUD/USD technical analysis: The Aussie erases intraday gains as the market settles near 0.6860

  • AUD/USD remains confined in a narrow range as the bulls failed to move beyond 0.6875 resistance.
  • The level to beat for bears is the 0.6850 support.
 

AUD/USD daily chart

 
The Aussie is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, the bulls had a sharp rebound in September as the market reached the 50 SMA at the 0.6858 level.

AUD/USD 4-hour chart

 
The Aussie is trading above the main simple moving averages (SMAs), suggesting bullish momentum in the near term. Buyers need a daily close above 0.6875 if they intend to extend the bull move. Further up lie 0.6890 and 0.6910 resistance levels, according to the Technical Confluences Indicator.
 

AUD/USD 30-minute chart

 
The Aussie erased its intraday gains as the market is now trading just below 0.6861 and the 50/100 SMAs. The market has been flat in the last three sessions. If bears breach 0.6850 support, it can open the door to further losses towards 0.6839 and 0.6825, according to the Technical Confluences Indicator. 
 
 

Additional key levels

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.