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

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD loses 1.1800 amid escalaing US-Sino tensions

EUR/USD dips sub-18 after the US reported an increase of 1.763 million jobs in July, better than estimated but pointing to a deceleration. Escalating Sino-American tensions are boosting the dollar and fiscal talks are eyed. 

EUR/USD News

GBP/USD resumes decline, weighed by UK concerns, US-China conflict

GBP/USD trades at fresh weekly lows below 1.3050 as the dollar got a sudden boost from mounting tensions between the world's two largest economies. UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever.

GBP/USD News

XAU/USD drops $50 from record highs to the $2020 area

Gold prices are falling sharply on Friday, trading below $2040/oz at the moment. Earlier on Friday, the yellow metal reached at $2075, a new record high.

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI drops 1% to $41.50 ahead of US NFP, rigs data

WTI (futures on Nymex) is on a steady decline so far this Friday, undermined by reduced demand for higher-yielding assets amid the renewed US-China tensions induced risk-aversion.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures