AUD/USD Price Analysis: Consolidates recovery gains below 0.6900 after RBA's Debelle


  • AUD/USD keeps pullback moves from 21-day EMA, short-term support line.
  • RBA’s Debelle suggests policy support, defies negative interest rates.
  • A two-week-old symmetrical triangle could question the bulls.
  • 200-day EMA, a two-month-long rising trend line offers strong downside support.

AUD/USD prints 0.23% gains while taking the bids to 0.6880 during the early Tuesday. The aussie pair recently benefited from the upbeat comments from RBA Deputy Governor Guy Debelle. Earlier during the day, China’s official PMIs helped the quote to extend the previous day’s gains.

Read: RBA’s Debelle: No need for negative interest rates now

Even so, a downward sloping trend line from June 10, at 0.6930 now, could offer immediate upside barrier to the pair ahead of 0.7000 threshold.

Given the pair’s ability to stay positive beyond 0.7000, the monthly top near 0.7065 and 0.7100 round-figure might lure the bulls.

On the contrary, a confluence of 21-day EMA and an ascending trend line from June 16 restricts the pair’s immediate declines around 0.6850/45, a break of which could escalate downside pressure towards the mid-month low near 0.6775.

Though 200-day EMA and an upward sloping trend line from April 21, currently around 0.6680, could restrict the pair’s further weakness, if not then April month top near 0.6570 could return to the charts.

AUD/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 0.6881
Today Daily Change 16 pips
Today Daily Change % 0.23%
Today daily open 0.6865
 
Trends
Daily SMA20 0.6906
Daily SMA50 0.6664
Daily SMA100 0.6504
Daily SMA200 0.6668
 
Levels
Previous Daily High 0.6911
Previous Daily Low 0.6841
Previous Weekly High 0.6975
Previous Weekly Low 0.6811
Previous Monthly High 0.6683
Previous Monthly Low 0.6372
Daily Fibonacci 38.2% 0.6884
Daily Fibonacci 61.8% 0.6867
Daily Pivot Point S1 0.6834
Daily Pivot Point S2 0.6802
Daily Pivot Point S3 0.6764
Daily Pivot Point R1 0.6904
Daily Pivot Point R2 0.6942
Daily Pivot Point R3 0.6974

 

 

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