AUD/USD price analysis: Australian dollar bounces from daily lows, trades near 0.6840 level

AUD/USD remains in range despite broad-based USD strength.
The level to beat for bears is the 0.6821/14 support zone.

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is trading in a tight range just above the 50 and 100 simple moving averages (DMAs). Although the Nonfarm Payrolls (NFP) was way better than anticipated with 266k vs. 180k expected, AUD/USD didn’t react as dramatically as other currency pairs as it is still trading within familiar ranges.

AUD/USD four-hour chart

The aussie is consolidating the early December gains around the 200 SMA. After the London close, the market is trading below the 0.6836/43 resistance zone. However, in the event the spot breaks this area, the bulls could drive the market to the 0.6864 level, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading above the main SMAs, suggesting bullish momentum in the near term. However, a break below the 0.6821/14 support zone could lead to 0.6800, 0.6779 and 0.6775 price levels.

Additional key levels

AUD/USD

Overview
Today last price	0.6838
Today Daily Change	0.0006
Today Daily Change %	0.09
Today daily open	0.6832

Trends
Daily SMA20	0.6811
Daily SMA50	0.6811
Daily SMA100	0.6814
Daily SMA200	0.6916

Levels
Previous Daily High	0.6855
Previous Daily Low	0.682
Previous Weekly High	0.68
Previous Weekly Low	0.6754
Previous Monthly High	0.6929
Previous Monthly Low	0.6754
Daily Fibonacci 38.2%	0.6833
Daily Fibonacci 61.8%	0.6841
Daily Pivot Point S1	0.6816
Daily Pivot Point S2	0.68
Daily Pivot Point S3	0.6781
Daily Pivot Point R1	0.6852
Daily Pivot Point R2	0.6871
Daily Pivot Point R3	0.6887

Author

Flavio Tosti

Independent Analyst

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