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AUD/USD Price Analysis: 0.6966 could provide some intraday resistance - Confluence Detector

  • The Confluence Detector is showing that 0.6966 could be an intraday resistance. 
  • Ahead of the Asian session the pair has fallen 0.35% but could retrace for a breather.

AUD/USD 30-minute chart

The chart below shows that AUD/USD has struggled in the US session but is now consolidating near 0.6958. The market has now moved under the pivotal 0.70 level once again as a bout of risk-off pressure enters the markets. There has also been an escalation if tensions between Australia and China after the Australian government said it would make it easier for Hong Kong nations to settle in the nation.

The red resistance line on the chart is the level highlighted on the confluence detector below. The pair might move back and retrace after the move lower earlier in the session. Its quite clear that the indicators are bearish for the day as the Relative Strength Index holds near the oversold area and the MACD histogram is still red. The MACD signal lines have also crossed over to the downside, which is another bearish signal.

AUDUSD intraday chart

Confluence detector

AUD/USD Confluence

Additional levels

AUD/USD

Overview
Today last price0.6958
Today Daily Change-0.0024
Today Daily Change %-0.34
Today daily open0.6982
 
Trends
Daily SMA200.69
Daily SMA500.6738
Daily SMA1000.6521
Daily SMA2000.6675
 
Levels
Previous Daily High0.6987
Previous Daily Low0.6926
Previous Weekly High0.6953
Previous Weekly Low0.6832
Previous Monthly High0.7065
Previous Monthly Low0.6648
Daily Fibonacci 38.2%0.6964
Daily Fibonacci 61.8%0.695
Daily Pivot Point S10.6943
Daily Pivot Point S20.6905
Daily Pivot Point S30.6883
Daily Pivot Point R10.7004
Daily Pivot Point R20.7026 
Daily Pivot Point R30.7064

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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