AUD/USD Price Analysis: Aussie eases from 2.5-month highs, trades below 0.6900 handle

AUD/USD is trading at session’s lows as bulls have stepped out on Friday.
The market is challenging the 0.6838/0.6824 price zone.

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is currently rejecting the 0.6900 handle and the 200-day simple moving average (DMA) as the market challenged the October/November highs.

AUD/USD four-hour chart

AUD/USD is retracing down sharply, testing the 0.6880/0.6867 price zone. Bulls seem to have stepped out for the time being. A break below the current support could lead to a deeper pullback towards the 0.6838/0.6824 price zone, according to the Technical Confluences Indicator. Resistance is expected at the 0.6912 and 0.6931 price levels.

Additional key levels

AUD/USD

Overview
Today last price	0.6883
Today Daily Change	-0.0027
Today Daily Change %	-0.39
Today daily open	0.691

Trends
Daily SMA20	0.6816
Daily SMA50	0.6823
Daily SMA100	0.6807
Daily SMA200	0.6911

Levels
Previous Daily High	0.6913
Previous Daily Low	0.6866
Previous Weekly High	0.6863
Previous Weekly Low	0.6762
Previous Monthly High	0.6929
Previous Monthly Low	0.6754
Daily Fibonacci 38.2%	0.6895
Daily Fibonacci 61.8%	0.6884
Daily Pivot Point S1	0.6879
Daily Pivot Point S2	0.6849
Daily Pivot Point S3	0.6832
Daily Pivot Point R1	0.6927
Daily Pivot Point R2	0.6944
Daily Pivot Point R3	0.6974

Author

Flavio Tosti

Independent Analyst

EUR/USD holds losses below 1.1850 ahead of FOMC Minutes

EUR/USD stays on the back foot below 1.1850 in the European session on Wednesday, pressured by renewed US Dollar demand and reports that ECB President Lagarde will step down before the end of her term. Traders now look forward to the Minutes of the Fed's January monetary policy meeting for fresh signals on future rate cuts.

GBP/USD defends 1.3550 after UK inflation data

GBP/USD is holding above 1.3550 in Wednesday's European morning, little changed following the UK Consumer Price Index (CPI) data release. The UK inflation eased as expected in January, reaffirming bets for a March BoE interest rate cut, especially after Tuesday's weak employment report.

Gold retains bullish bias amid Fed rate cut bets, ahead of Fed Minutes

Gold sticks to modest intraday gains through the early European session, reversing a major part of the previous day's heavy losses of more than 2%, to the $4,843-4,842 region or a nearly two-week low. That said, the fundamental backdrop warrants caution for bulls ahead of the FOMC Minutes, which will look for more cues about the US Federal Reserve's rate-cut path.

Pi Network rally defies market pressure ahead of its first anniversary

Pi Network is trading above $0.1900 at press time on Wednesday, extending the weekly gains by nearly 8% so far. The steady recovery is supported by a short-term pause in mainnet migration, which reduces pressure on the PI token supply for Centralized Exchanges. The technical outlook focuses on the $0.1919 resistance as bullish momentum increases.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple face downside risk as bears regain control

Bitcoin, Ethereum, and Ripple remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.