AUD/USD Price Analysis: Retreats from 200-SMA as bears brace for 0.6580

  • AUD/USD takes a U-turn from intraday high as the key SMA probes recovery.
  • Failure to cross key hurdles, downbeat oscillators favor sellers.
  • Bears eye late November swing low, 50% Fibonacci retracement level.
  • One-month-old previous support line adds to the upside filters.

AUD/USD takes offers to refresh the intraday low near 0.6655 during early Wednesday morning in Europe.

The Aussie pair’s failure to extend the corrective bounce off 38.2% Fibonacci retracement of November-December upside beyond the 200-SMA appears to favor the AUD/USD bears of late.

Adding strength to the bearish bias are the sluggish MACD signals and the RSI (14) that remains downbeat.

As a result, AUD/USD sellers are back to attacking the 38.2% Fibonacci retracement (Fibo.) level of 0.6655, a break of which could quickly direct bears toward the convergence of the 50% Fibo. level and the late November swing low, close to 0.6580.

It’s worth noting that the November 08 swing high near 0.6550 and the 61.8% Fibonacci retracement level, also known as the “Golden Ratio”, around 0.6510, could challenge the AUD/USD downside past 0.6580.

Alternatively, the 200-SMA hurdle surrounding the 0.6700 round figure guards the AUD/USD pair’s immediate recovery.

Following that, the support-turned-resistance line from November 21, close to 0.6740 at the latest, will act as the last defense of the AUD/USD pair sellers.

Overall, AUD/USD is up for a refreshing monthly low but the downside past 0.6580 has limited room towards the south.

AUD/USD: Four-hour chart

Trend: Further downside expected

Additional important levels

Today last price 0.6664
Today Daily Change -0.0006
Today Daily Change % -0.09%
Today daily open 0.667
Daily SMA20 0.6744
Daily SMA50 0.6574
Daily SMA100 0.6664
Daily SMA200 0.6891
Previous Daily High 0.6744
Previous Daily Low 0.6629
Previous Weekly High 0.6893
Previous Weekly Low 0.6675
Previous Monthly High 0.6801
Previous Monthly Low 0.6272
Daily Fibonacci 38.2% 0.6673
Daily Fibonacci 61.8% 0.67
Daily Pivot Point S1 0.6618
Daily Pivot Point S2 0.6566
Daily Pivot Point S3 0.6503
Daily Pivot Point R1 0.6733
Daily Pivot Point R2 0.6796
Daily Pivot Point R3 0.6848



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