AUD/USD Price Analysis: Aussie bears eyeing the 0.6800 handle

AUD/USD is starting 2020 by pulling back down sharply below the December 2019 tops.
The level to beat for sellers is the 0.6840 support.

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is pulling back down sharply from the January highs trading now below the 0.6900 handle and the 50/200-day simple moving averages (SMAs).

AUD/USD four-hour chart

The Australian dollar is under bearish pressure below both the 0.6890 resistance and the 200 SMA on the four-hour chart. The spot is currently consolidating the recent losses as bears want a break below 0.6840 support to reach the 0.6800 handle. However, in the event bulls retake the 0.6890 level, the correction can potentially reach the 0.6920 and 0.6935 levels, according to the Technical Confluences Indicator.

Additional key levels

AUD/USD

Overview
Today last price	0.6854
Today Daily Change	-0.0012
Today Daily Change %	-0.17
Today daily open	0.6866

Trends
Daily SMA20	0.6925
Daily SMA50	0.6869
Daily SMA100	0.6831
Daily SMA200	0.6895

Levels
Previous Daily High	0.6886
Previous Daily Low	0.6848
Previous Weekly High	0.7043
Previous Weekly Low	0.693
Previous Monthly High	0.7033
Previous Monthly Low	0.6762
Daily Fibonacci 38.2%	0.6863
Daily Fibonacci 61.8%	0.6871
Daily Pivot Point S1	0.6847
Daily Pivot Point S2	0.6829
Daily Pivot Point S3	0.6809
Daily Pivot Point R1	0.6885
Daily Pivot Point R2	0.6905
Daily Pivot Point R3	0.6923

Author

Flavio Tosti

Independent Analyst

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