AUD/USD Price analysis: Reverses post-Aussie jobs data gains to snap four day rise


  • AUD/USD refreshes intraday low after rising over 30 pips on Aussie employment data.
  • Break of 21-day SMA drags the quote to a 50% Fibonacci retracement and six-week-old support line.
  • Bulls need a daily closing beyond 0.7350 for fresh entries.

AUD/USD stands on a slippery ground while trading near 0.7265, intraday low of 0.7261, during the early Thursday. In doing so, the quote not only reverses its recent gains, grabbed after Australia’s August month employment data, but also stops the bulls after consecutive four days of run-up.

It should additionally be noted that the pair’s declines below the 21-day SMA highlight 50% of the Fibonacci retracement of its August-September upside, at 0.7245.

However, an upward sloping trend line from August 03 and 61.8% Fibonacci retracement level, respectively around 0.7215 and 0.7205, can challenge the bears before pleasing them with 50-day SMA, currently around .7180.

Alternatively, the 0.7300 round-figure may keep entertaining the short-term traders while a daily close beyond 0.7350 may direct the bulls towards the monthly peak of 0.7416.

It’s worth mentioning that the pair’s sustained rise past-0.7416 might not hesitate to question the July 2018 top near 0.7485.

AUD/USD daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.727
Today Daily Change -36 pips
Today Daily Change % -0.49%
Today daily open 0.7306
 
Trends
Daily SMA20 0.7271
Daily SMA50 0.7176
Daily SMA100 0.6957
Daily SMA200 0.6764
 
Levels
Previous Daily High 0.7346
Previous Daily Low 0.7278
Previous Weekly High 0.7325
Previous Weekly Low 0.7192
Previous Monthly High 0.7416
Previous Monthly Low 0.7076
Daily Fibonacci 38.2% 0.732
Daily Fibonacci 61.8% 0.7304
Daily Pivot Point S1 0.7273
Daily Pivot Point S2 0.7241
Daily Pivot Point S3 0.7205
Daily Pivot Point R1 0.7342
Daily Pivot Point R2 0.7378
Daily Pivot Point R3 0.741

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds gains above 1.1850 amid tepid market mood

EUR/USD is trading above 1.1850, holding onto recent gains The uptrend, however, at risk as coronavirus cases rise across the Eurozone. New lockdown restrictions may force the ECB to adopt a stronger dovish stance. Focus shifts to Powell's speech, EZ Preliminary PMIs. 

EUR/USD News

GBP/USD hovers around 1.2950 amid likely virus curbs

GBP/USD stays well bid near  mid-1.2900s following three successive failures to cross 1.3000 during last week. UK’s health authorities mull lockdown restrictions. Chancellor Sunak may extend business support loans. Fedspeak eyed amid a light calendar. 

GBP/USD News

USD/JPY drops to over six-month lows, fast approaching 104.00 mark

USD/JPY witnessed some follow-through selling for the sixth consecutive session on Monday. The USD was being pressured by fading hopes of another round of the fiscal stimulus measures. Resurgent COVID-19 cases benefitted the safe-haven JPY and contributed to the offered tone.

USD/JPY News

Gold due for a breakout, according to key indicator

Gold's multi-week consolidation in a narrowing price range could end with a bullish breakout, as a widely-tracked daily chart indicator is about to turn bullish. The yellow metal has carved out a descending triangle pattern over the past four weeks.

Gold News

WTI buyers attack $41.00 amid US-Iran tension, escalating virus woes

WTI remains heavy below 50-day SMA, drops from $41.18 to begin the week. The energy benchmark keeps trailing 50-day SMA for over two weeks while taking clues from the US-Iran tussle and the coronavirus (COVID-19) headlines. Hopes of further stimulus, China’s optimism favor energy bulls.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures