AUD/USD Price Analysis: Stuck in a symmetrical triangle below 200-bar SMA


  • AUD/USD clings to 23.6% Fibonacci retracement.
  • Two-week-old horizontal resistance adds to the upside barriers.
  • Sustained trading below key resistances, MACD teasing bears favor the pair’s declines.

AUD/USD seesaws around 0.6725 during the Asian session on Friday. The pair has been moving inside a short-term symmetrical triangle while also staying below short-term key resistances. Also supporting the bears are MACD conditions that could inch to signaling further declines.

However, sellers will refrain from entry unless AUD/USD prices dip below 0.6710, the formation support. In doing so, 0.6680 and the monthly bottom around 0.6660 will be on their radars.

If at all prices keep trading below the decade low, early-February 2009 tops near 0.6550 could please the sellers.

Alternatively, an upside clearance of the symmetrical triangle resistance, at 0.6745, will trigger the pair’s run-up to highs marked on January 29 and February 5, near 0.6775/80.

Should there be a further north-run by the pair beyond 0.6780, 200-bar SMA close to 0.6825 will become the buyers’ favorite.

AUD/USD four-hour chart

Trend: Sideways

Additional important levels

Overview
Today last price 0.6724
Today Daily Change 5 pips
Today Daily Change % 0.07%
Today daily open 0.6719
 
Trends
Daily SMA20 0.6761
Daily SMA50 0.6849
Daily SMA100 0.683
Daily SMA200 0.6857
 
Levels
Previous Daily High 0.6746
Previous Daily Low 0.6706
Previous Weekly High 0.6775
Previous Weekly Low 0.6662
Previous Monthly High 0.704
Previous Monthly Low 0.6682
Daily Fibonacci 38.2% 0.6721
Daily Fibonacci 61.8% 0.6731
Daily Pivot Point S1 0.6702
Daily Pivot Point S2 0.6684
Daily Pivot Point S3 0.6662
Daily Pivot Point R1 0.6742
Daily Pivot Point R2 0.6764
Daily Pivot Point R3 0.6782

 

 

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

Editors’ Picks

EUR/USD looks to test 1.0800 ahead of German ZEW

Despite the latest recovery attempt from a new 34-month of 1.0823 reached in early Asia, the sentiment around the EUR/USD pair remains undermined by the German economic growth concerns and broad US dollar strength. Focus on German ZEW, coronavirus updates.

EUR/USD News

GBP/USD extends losses to sub-1.3000 area, UK unemployment rate in focus

GBP/USD stays mildly negative around 1.30 while heading into the London open on Tuesday. UK’s Brexit negotiator shares the same view as PM Boris Johnson, increases the risks of hard departure. UK employment statistics will be the key to clarify on the BOE’s bearish bias.

GBP/USD News

UK jobs preview: 3 reasons why Cable could bounce even if wage growth slows

Lower wages are bad news for workers and usually also for the pound – but these are abnormal times, and sterling may shine in response to the UK's December jobs report. The focus is on wage growth 

Read more

Gold: Positive beyond six-week-old falling trendline

Gold prices take the bids to $1,586.50, +0.35%, during the pre-European session on Tuesday. The yellow metal recently broke a downward sloping trend line stretched from January 08. Early-month top on the buyer’s radar.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures