AUD/USD Price Analysis: Flirting with daily lows, around 0.6600 mark


  • AUD/USD struggled to extend the recent recovery amid weaker risk sentiment.
  • Bulls are likely to wait for a sustained move above YTD descending trend-line.

The AUD/USD pair failed to capitalize on its recent recovery move from 11-year lows and witnessed a modest pullback from closer to near two-week tops set on Tuesday.

A fresh wave of the global risk-aversion trade weighed on the perceived riskier currency aussie and led to the downtick through the mid-European session on Thursday.

The fact that technical indicators on the daily chart are yet to catch up with this week's positive move, the pair struggled to make it through a year-to-date descending trend-line.

The mentioned resistance is closely followed by 38.2% Fibonacci level of the 0.7041-0.6434 downfall, which if cleared, might be seen as a fresh trigger for bullish traders.

The pair then might accelerate the positive move towards reclaiming the 0.6700 mark before eventually darting towards 50% Fibo. level, around the 0.6745-50 region.

On the flip side, any subsequent slide below the 0.6600 mark is likely to attract some dip-buying and help limit losses near 23.6% Fibo. level, around the 0.6580-75 area.

AUD/USD daily chart

fxsoriginal

Technical levels to watch

AUD/USD

Overview
Today last price 0.6613
Today Daily Change -0.0010
Today Daily Change % -0.15
Today daily open 0.6623
 
Trends
Daily SMA20 0.6645
Daily SMA50 0.6776
Daily SMA100 0.6812
Daily SMA200 0.6836
 
Levels
Previous Daily High 0.6628
Previous Daily Low 0.6576
Previous Weekly High 0.6628
Previous Weekly Low 0.6434
Previous Monthly High 0.6775
Previous Monthly Low 0.6434
Daily Fibonacci 38.2% 0.6608
Daily Fibonacci 61.8% 0.6596
Daily Pivot Point S1 0.659
Daily Pivot Point S2 0.6557
Daily Pivot Point S3 0.6538
Daily Pivot Point R1 0.6642
Daily Pivot Point R2 0.6661
Daily Pivot Point R3 0.6694

 

 

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