AUD/USD Price Analysis: Pierces yearly support line to aim for 0.7105

  • AUD/USD takes offers to refresh three-month low during a three-day downtrend.
  • Oversold RSI conditions probe bears at the key support line, daily closing awaited.
  • Bear cross keeps buyers away until crossing 100-DMA.

AUD/USD marks the heaviest daily fall in three weeks while taking offers around 0.7135, down 0.78% during Friday morning in Europe.

The Aussie pair bears cheer a sustained trading below a three-month-old support line, now resistance around 0.7260, as well as downbeat MACD signals and a bear cross of the 20-DMA to 100-DMA, to aim for the yearly bottom of 0.7105.

However, oversold RSI conditions may challenge the sellers around an ascending support line from November 2020, around 0.7140. Hence, a daily closing below the recently broken trend line becomes necessary to convince the bears.

Should the pair sellers conquer the key support line, a south-run towards the 2021 bottom surrounding 0.7100, marked in August, become imminent.

Meanwhile, corrective pullback remains elusive below the previous support line from August 20, near 0.7260.

Even so, bulls remain cautious until crossing the 20-DMA and the 100-DMA, respectively close to 0.7315 and 0.7345.

To sum up, AUD/USD sellers have some downside room to travel before hitting the key hurdle.

AUD/USD: Daily chart

Trend: Further downside expected

Additional important levels

Today last price 0.7137
Today Daily Change -0.0050
Today Daily Change % -0.70%
Today daily open 0.7187
Daily SMA20 0.7337
Daily SMA50 0.7345
Daily SMA100 0.7347
Daily SMA200 0.7523
Previous Daily High 0.721
Previous Daily Low 0.7179
Previous Weekly High 0.7371
Previous Weekly Low 0.7227
Previous Monthly High 0.7557
Previous Monthly Low 0.7191
Daily Fibonacci 38.2% 0.7191
Daily Fibonacci 61.8% 0.7198
Daily Pivot Point S1 0.7174
Daily Pivot Point S2 0.7161
Daily Pivot Point S3 0.7143
Daily Pivot Point R1 0.7205
Daily Pivot Point R2 0.7223
Daily Pivot Point R3 0.7236



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 climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.


GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.


Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!