• AUD/USD takes offers to renew intraday low, pares weekly gains.
  • Short-term triangle restricts immediate downside below the key SMAs.
  • Steady RSI, failures to cross moving averages keep bears hopeful.

AUD/USD holds lower ground near 0.6950, after refreshing daily lows with 0.6944, as traders jostle inside a short-term triangle during Wednesday’s Asian session.

In addition to the nearby triangle formation, steady RSI also challenges the AUD/USD pair’s immediate moves. However, failures to cross the 50-SMA and the 200-SMA join Thursday’s “death cross” to favor sellers.

That said, a clear downside break of the 0.6940 support appears necessary for the pair sellers to retake controls, after a two-day absence.

Following that, the 0.6900 round figure and the monthly low 0.6850 could gain the AUD/USD pair bear’s attention.

Meanwhile, the 50-SMA and upper line of the stated triangle, respectively around 0.6975 and 0.6985, precede the 0.7000 psychological magnet to challenge short-term AUD/USD buyers.

Even if the quote rises past 0.7000, the 200-SMA level of 0.7055 could probe the upside momentum.

It should be noted, however, that the Aussie pair’s ability to stay firmer past 0.7055 enables it to challenge the monthly peak of 0.7283.

AUD/USD: Four-hour chart

Trend: Further weakness expected

additional important levels

Overview
Today last price 0.6954
Today Daily Change -0.0012
Today Daily Change % -0.17%
Today daily open 0.6966
 
Trends
Daily SMA20 0.7093
Daily SMA50 0.712
Daily SMA100 0.7218
Daily SMA200 0.7238
 
Levels
Previous Daily High 0.6994
Previous Daily Low 0.6934
Previous Weekly High 0.707
Previous Weekly Low 0.685
Previous Monthly High 0.7267
Previous Monthly Low 0.6828
Daily Fibonacci 38.2% 0.6971
Daily Fibonacci 61.8% 0.6957
Daily Pivot Point S1 0.6935
Daily Pivot Point S2 0.6904
Daily Pivot Point S3 0.6875
Daily Pivot Point R1 0.6996
Daily Pivot Point R2 0.7025
Daily Pivot Point R3 0.7056

 

 

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