AUD/USD falls to its lowest since 2009

Sharp U-turn in Wall Street following Apple's report sent the dollar up on demand for safety.
AUD/USD now trying to stabilize above 2016 low of 0.6826.

FXStreet Team FXStreet

The collapse of US equities after Apple cut its first-quarter revenue guidance triggered some wild movements across the FX board, exacerbated by thin volumes, with markets slowly returning from holidays and even some markets still closed. The movement was so abrupt that there is no clear consensus on where the pairs bottomed, although one thing is sure: the AUD/USD pair broke below its 2016 low of 0.6826 and traded at levels last seen on March 2009.

Now trading around 0.6860, the pair has been under strong selling pressure these last couple of weeks as soft Chinese data arose ruling concerns about a global economic slowdown. In fact, it's not just about China, as this Wednesday, data showed that European business activity ended 2018 on a sour note.

Major pairs will now struggle to find some sort of equilibrium prices and would likely remain choppy and volatile, yet another leg lower below the mentioned 0.6826 will probably anticipate a continued decline for this Thursday, beyond macroeconomic releases.

AUD/USD

Overview:
    Today Last Price: 0.6861
    Today Daily change: -1.9e+2 pips
    Today Daily change %: -2.76%
    Today Daily Open: 0.7056
Trends:
    Previous Daily SMA20: 0.7134
    Previous Daily SMA50: 0.7186
    Previous Daily SMA100: 0.7192
    Previous Daily SMA200: 0.7354
Levels:
    Previous Daily High: 0.7072
    Previous Daily Low: 0.6996
    Previous Weekly High: 0.7078
    Previous Weekly Low: 0.7014
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Previous Daily Fibonacci 38.2%: 0.7043
    Previous Daily Fibonacci 61.8%: 0.7025
    Previous Daily Pivot Point S1: 0.7011
    Previous Daily Pivot Point S2: 0.6965
    Previous Daily Pivot Point S3: 0.6935
    Previous Daily Pivot Point R1: 0.7087
    Previous Daily Pivot Point R2: 0.7117
    Previous Daily Pivot Point R3: 0.7163

Author

FXStreet Team

FXStreet

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