AUD/USD Price Analysis: Mildly bid inside bear flag, 0.7005 is the key

  • AUD/USD consolidates recent losses inside bearish chart pattern.
  • Monthly resistance line, 200-SMA also challenge bulls, RSI hints at further grinding towards the south.
  • November 2020 low acts as extra support before theoretical target near 0.6825.

AUD/USD struggles to extend corrective pullback from yearly low, retreats to 0.7015 heading into Monday’s European session. The Aussie pair portrays a short-term bearish chart pattern, called bear flag, on the 30-minute play, up 0.17% intraday at the latest.

It should be noted, however, that the RSI line hints at further consolidation of the prices before confirming the formation with a downside break of 0.7005 support.

Also adding to the downside filter is the November 2020 low near 0.6990.

If the quote drops below 0.6990, it becomes vulnerable, at least theoretically, to aim for the 0.6825 support level.

Meanwhile, recovery moves remain elusive below the upper line of the stated flag, near 0.7035 at the latest.

Additionally challenging AUD/USD buyers is a downward sloping trend line from December 01 and 200-DMA, respectively near 0.7050 and 0.7100.

AUD/USD: 30-minute chart

Trend: Further weakness expected

Additional important levels

Today last price 0.7015
Today Daily Change 0.0011
Today Daily Change % 0.16%
Today daily open 0.7004
Daily SMA20 0.723
Daily SMA50 0.7325
Daily SMA100 0.7326
Daily SMA200 0.75
Previous Daily High 0.7102
Previous Daily Low 0.6993
Previous Weekly High 0.7174
Previous Weekly Low 0.6993
Previous Monthly High 0.7537
Previous Monthly Low 0.7063
Daily Fibonacci 38.2% 0.7035
Daily Fibonacci 61.8% 0.706
Daily Pivot Point S1 0.6964
Daily Pivot Point S2 0.6924
Daily Pivot Point S3 0.6855
Daily Pivot Point R1 0.7073
Daily Pivot Point R2 0.7142
Daily Pivot Point R3 0.7182



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

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD struggles to rebound, holds near 1.1150 after US data

EUR/USD trades around 1.1150 in the early American session on Friday as investors assess the latest inflation data from the US. According to the US Bureau of Economic Analysis, Core PCE Price Index rose to 4.9% on a yearly basis in December from 4.7% in November, surpassing the market expectation of 4.8%. 


GBP/USD clings to small gains above 1.3400 on mixed US data

GBP/USD posts modest daily gains slightly above 1.3400 on Friday as the dollar rally loses steam. The data from the US showed that the core PCE inflation edged higher to 4.9% in December. On a negative note, Personal Spending contracted by 0.6% on a monthly basis.


Gold recovers modestly after US data, stays below $1,800

Gold managed to stage a rebound from the multi-week low it set below $1,780 but continues to trade deep in the red near $1,790. The benchmark 10-year US Treasury bond yield is rising more than 1% on the day after US data, limiting XAU/USD's recovery.

Gold News

Bitcoin Weekly Forecast: Federal Reserve cannot tame BTC’s uptrend

Bitcoin has experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed's decision was announced. As losses have extended and BTC has entered into the $30,000 zone, concerns regarding Bitcoin being in a bear market have increased.

Read more

Apple share price set to rise after another record quarter

With the Nasdaq closing at its lowest level in seven months yesterday, the Apple share price has also found itself on the end of the recent weakness in tech shares, down over 12% from its record highs in early January.

Read more