AUD/USD Price Analysis: Price back below the 21-hour moving average, taregtting lower structures

Ross J Burland FXStreet

AUD/USD has broken structure to the downside on an hourly basis.

Bears will be seeking to sell into rallies around the 38.2% Fibonacci, (guarding the 21-hour moving average) if the structure is pierced at the lower confluence of the 23.6% Fibonacci and 50-hour moving average.

To the downside, the various highs of the uptrend are marked with an eclipse offering potential demand levels en-route towards the 200-hour moving average and lowest levels structure.

meanwhile, a spike in the greenback is driving the major son the session leading into the Federal Reserve minutes.

This move in the greenback could dent the positioning at August highs and subsequently lead to profit-taking and a lower pair for weeks to come.

A meaningful correction in the greenback would open prospects of a monthly structure target down at 0.7035.

AUD/USD hourly chart

AUD/USD levels

Overview
Today last price	0.723
Today Daily Change	-0.0013
Today Daily Change %	-0.18
Today daily open	0.7243

Trends
Daily SMA20	0.7164
Daily SMA50	0.7024
Daily SMA100	0.6755
Daily SMA200	0.6716

Levels
Previous Daily High	0.7265
Previous Daily Low	0.7208
Previous Weekly High	0.719
Previous Weekly Low	0.7108
Previous Monthly High	0.7228
Previous Monthly Low	0.6876
Daily Fibonacci 38.2%	0.7243
Daily Fibonacci 61.8%	0.723
Daily Pivot Point S1	0.7212
Daily Pivot Point S2	0.7182
Daily Pivot Point S3	0.7155
Daily Pivot Point R1	0.7269
Daily Pivot Point R2	0.7296
Daily Pivot Point R3	0.7326

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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