AUD/USD Price Analysis: 21-day SMA, Wednesday’s Doji question the buyers


  • AUD/USD stays positive above 200-day SMA, 38.2% Fibonacci retracement.
  • Bearish candlestick formation, MACD doubts the recent strength.
  • 0.7000 becomes the key resistance.

AUD/USD rises to 0.6920 during the early trading hours of Thursday. The Aussie pair flashed a bearish candlestick formation, Doji, on the daily chart on Wednesday. Also increasing the odds of the pair’s pullback is bearish MACD.

Even so, a 200-day SMA level around 0.6890/85 keeps the pair’s short-term downside limited, a break of which can fetch AUD/USD prices to 50% Fibonacci retracement of pair’s October-January month upside, at 0.6855.

During the pair’s weakness below 0.6855, an upward sloping trend line since early October at 0.6823 and 61.8% of Fibonacci retracement near 0.6810 will be important to watch.

On the flip side, the pair’s daily closing above 21-day SMA level of 0.6930 enables the pair to challenge a 23.6% Fibonacci retracement level of 0.6955.

In a case where the buyers manage to cross 0.6955, 0.7000 round-figure will be on their radar.

AUD/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.6915
Today Daily Change 10 pips
Today Daily Change % 0.14%
Today daily open 0.6905
 
Trends
Daily SMA20 0.693
Daily SMA50 0.6869
Daily SMA100 0.6838
Daily SMA200 0.6889
 
Levels
Previous Daily High 0.6918
Previous Daily Low 0.6877
Previous Weekly High 0.6959
Previous Weekly Low 0.6848
Previous Monthly High 0.7033
Previous Monthly Low 0.6762
Daily Fibonacci 38.2% 0.6902
Daily Fibonacci 61.8% 0.6893
Daily Pivot Point S1 0.6882
Daily Pivot Point S2 0.6859
Daily Pivot Point S3 0.6841
Daily Pivot Point R1 0.6923
Daily Pivot Point R2 0.6941
Daily Pivot Point R3 0.6964

 

 

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