AUD/USD

The Aussie bounced from the session low at 0.6800 at the start of US trading on Tuesday, on news that fresh round of tariffs due to start on 15 Dec, might be delayed. The pair remained in red during Asia and Europe following mixed results from Australia's NAB business report, but bears found solid support at 0.6800 (daily cloud base) reinforced by Fibo 61.8% of 0.6754/0.6862 (0.6795). Technical signals are mixed as momentum is flat on daily chart while stochastic and RSI head south and MA' (10/20/55) are converged and in neutral setup. Close within daily cloud (spanned between 0.6800 and 0.6834) would keep the price in consolidation, but near-term action will remain biased lower if today's action ends in red. Break of 0.6800/0.6795 pivots would provide fresh bearish signal for test of support at 0.6779 (Fibo 76.4%) and keep in play possible extension towards key near-term support at 0.6754 (29 Nov low). Conversely, lift and close above 0.6820 (broken Fibo 38.2% of 0.6754/0.6862) would sideline near-term bears, but extension and close above daily cloud top (0.6834) is needed neutralize bears and shift focus towards 0.6862 (3 Dec high).

Res: 0.6820; 0.6834; 0.6841; 0.6857
Sup: 0.6800; 0.6795; 0.6779; 0.6761

AUDUSD

 

Interested in AUD/USD technicals? Check out the key levels

    1. R3 0.6859
    2. R2 0.6849
    3. R1 0.684
  1. PP 0.683
    1. S1 0.682
    2. S2 0.681
    3. S3 0.6801

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD surges toward 1.3150 amid upbeat UK data, USD weakness

GBP/USD has been extending its gains after the British CBI Trends figure beat expectations. Markets are pricing a BOE rate cut less aggressively. The US dollar is on the back foot across the board amid reduced coronavirus fears.

GBP/USD News

EUR/USD struggles to recover amid Trump's tariff threats

EUR/USD is trading below 1.11, close to the three-week lows, as President Trump continues threatening the EU with car tariffs. Markets remain concerned about the spreading coronavirus disease. 

EUR/USD News

BoC goes dovish, USD/CAD jumps above 1.31

In a widely expected decision, the Bank of Canada on Wednesday announced that it left its policy rate unchanged at 1.75% at its January policy meeting. In its policy statement, the BoC noted that it sees less risk of an extreme downside scenario related to trade tensions.

Read more

Gold Price Analysis: Intraday uptick falters near 50-hour SMA, remains vulnerable

Gold lacked any firm directional bias and seesawed between tepid gains/minor losses through the mid-European session on Wednesday.

Gold News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures