• AUD/USD holds lower ground near two-month bottom, pauses two-day downtrend.
  • Oversold RSI probes bears but downbeat MACD signals, sustained break of the key support zone hint at further weakness.
  • Key moving averages, monthly high add to the upside filters.

AUD/USD dribbles around 0.7030 during a mixed Asian session on Friday, after declining to an early December low following the two-day downtrend.

In doing so, the Aussie pair justifies oversold RSI conditions to defend the 0.7000 psychological magnet.

However, a clear downside break of a five-month-old horizontal resistance area, between 0.7090 and 0.7110, keeps AUD/USD sellers hopeful amid bearish MACD signals.

Even if the pair buyers manage to cross the 0.7110 hurdle, the 50-DMA and the 100-DMA surrounding 0.7175 and 0.7265 in that order will challenge the pair’s further upside.

Alternatively, lows marked during December 2021, also the lowest levels since November 2020, around 0.6990, will challenge the AUD/USD bears during the fresh downside.

Should the remains bearish past 0.6990, the 61.8% Fibonacci Expansion (FE) of the pair’s declines from late June 2021 to January 2022, around 0.6920, will be in focus.

AUD/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.7037
Today Daily Change 0.0009
Today Daily Change % 0.13%
Today daily open 0.7028
 
Trends
Daily SMA20 0.7194
Daily SMA50 0.7177
Daily SMA100 0.7267
Daily SMA200 0.74
 
Levels
Previous Daily High 0.7123
Previous Daily Low 0.7022
Previous Weekly High 0.7277
Previous Weekly Low 0.7169
Previous Monthly High 0.7278
Previous Monthly Low 0.6993
Daily Fibonacci 38.2% 0.7061
Daily Fibonacci 61.8% 0.7085
Daily Pivot Point S1 0.6993
Daily Pivot Point S2 0.6957
Daily Pivot Point S3 0.6892
Daily Pivot Point R1 0.7093
Daily Pivot Point R2 0.7158
Daily Pivot Point R3 0.7194

 

 

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 Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD bulls flirt with 0.7100 with eyes on Aussie Retail Sales, US PCE Inflation

AUD/USD bulls flirt with 0.7100 with eyes on Aussie Retail Sales, US PCE Inflation

AUD/USD holds onto the recently sidelined moves around 0.7100 as bulls and bears jostle over mixed clues heading into the key data on Friday. Also restricting the Aussie prices are downbeat statistics at home and looming economic fears over the largest customer China.

AUD/USD News

EUR/USD approaches 1.0750 key hurdle ahead of US PCE Inflation

EUR/USD approaches 1.0750 key hurdle ahead of US PCE Inflation

EUR/USD grinds higher around the weekly top, as well as monthly high, recently steady around 1.0735 as bulls await fresh clues during a lackluster Asian session on Friday. Shrinking Fed vs. ECB divergence appears the key catalyst to recall bulls, highlighting US PCE Price Index for April.

EUR/USD News

Gold bounces from $1,850, DXY remains soft on soaring market mood

Gold bounces from $1,850, DXY remains soft on soaring market mood

Gold price (XAU/USD) witnessed a minor pullback towards $1,850.00 in its initial trading hours but has bounced back sharply. The precious metal is displaying a balance auction in a range of $1,840.76-1,856.35 from Wednesday.

Gold News

Will Cardano price finally show its cards?

Will Cardano price finally show its cards?

Cardano price is preparing for a retest of $0.80. Still, jumping in early might be too risky. Traders should wait for confirmation signals.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures