• AUD/USD registers three-day losing streak.
  • US Coronavirus Task Force Briefing, RBA’s Debelle mainly directed the latest moves.
  • 21-day SMA, five-week-old falling trend line restrict near-term upside.
  • Bears seem to play around lows marked during the last-week and Tuesday.

In an absence of positive announcements from the US Coronavirus (COVID-19) Task Force Briefing and RBA’s Debelle, AUD/USD remains under pressure around 0.6495 amid the early Wednesday morning in Asia.

The US policymakers failed to offer any fresh headlines concerning President Donald Trump’s earlier promise of ‘major’ economic response.

Read: US COVID-19 Task Force Presser: Costs will be covered by US health insurance industry for those contracted the virus

Following that, RBA’s Deputy Governor Guy Debelle cited fears of the deadly virus but showed relief in weaker Australian dollar while also indicating confidence in the policymakers’ fiscal-monetary steps. In doing so, the RBA diplomat failed to provide any key details of the Aussie central bank’s next moves.

Read: RBA deputy governor, Debelle: Coronavirus causing large increase in risk aversion, uncertainty

As a result, the Aussie pair extends its fall below 0.6500, not to mention a sustained weakness under 21-day SMA and a downward sloping trend line since February 05, 2020.

Traders are currently looking for revisiting the last week’s low, also tested on Tuesday, around 0.6460, ahead of targeting further declines to Monday’s bottom surrounding 0.6310.

Alternatively, a 21-day SMA level of 0.6615 and the short-term resistance line near 0.6645 can keep challenging the buyers targeting early February lows near 0.6660.

AUD/USD daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 0.6499
Today Daily Change -0.0088
Today Daily Change % -1.34%
Today daily open 0.6587
 
Trends
Daily SMA20 0.6632
Daily SMA50 0.6754
Daily SMA100 0.6805
Daily SMA200 0.6831
 
Levels
Previous Daily High 0.6686
Previous Daily Low 0.6311
Previous Weekly High 0.6658
Previous Weekly Low 0.6465
Previous Monthly High 0.6775
Previous Monthly Low 0.6434
Daily Fibonacci 38.2% 0.6454
Daily Fibonacci 61.8% 0.6543
Daily Pivot Point S1 0.6371
Daily Pivot Point S2 0.6154
Daily Pivot Point S3 0.5996
Daily Pivot Point R1 0.6745
Daily Pivot Point R2 0.6903
Daily Pivot Point R3 0.712

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD extends slide toward mid-1.0200s after US data

EUR/USD extends slide toward mid-1.0200s after US data

EUR/USD continues to decline toward 1.0250 during the American trading hours on Friday. After the data published by the UOM showed that the long-run inflation outlook rose to 3% in August from 2.9% in July, the dollar gathered strength against its rivals, weighing on the pair.

EUR/USD News

GBP/USD pushes lower 1.2100 on broad dollar strength

GBP/USD pushes lower 1.2100 on broad dollar strength

GBP/USD is trading deep in negative territory near 1.2100 during the American session on Friday. With the UoM's Consumer Sentiment Survey pointing to a modest increase in the long-run inflation outlook, the US Dollar Index extended its rally, reflecting a broad dollar strength.

GBP/USD News

Gold clings to modest gains above $1,790

Gold clings to modest gains above $1,790

Gold stays relatively resilient on Friday and trades modestly higher on the day above $1,790. Although the greenback continues to outperform its rivals on the latest US data, falling US Treasury bond yields help XAU/USD hold in positive territory.

Gold News

Shiba Inu ready to go ballistic: Shiba Eternity released in Vietnam

Shiba Inu ready to go ballistic: Shiba Eternity released in Vietnam

Shytoshi Kusama, the project leader of Shiba Inu announced the launch of Shiba Eternity for Vietnamese players. The game is available for testing and the team has asked users for their review. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures