AUD/USD Price Analysis: The pair is doing its best to break out of the consolidation high of 0.6910


  • AUD/USD is trading 0.40% higher on Tuesday.
  • Some recent USD weakness has sent the pair higher in the US session.

AUD/USD 1-hour chart

AUD has been performing well on the session as the risk environment in the financial markets is positive on Tuesday. As you can see from the hourly chart below over the last five hours the pair has pushed higher. So much so, that the pair is now testing the consolidation high at the black line near 0.6910.

Before the move higher the pair broke the blue diagonal line on the downside and it looked like there could be a technical move lower. After some fundamental news, the pair broke higher and has now stalled near the highs of the session. 

As with most consolidation zones, the MACD was looking pretty flat. Now there has been a move higher the histogram has moved into the green and the signal lines look to be following higher. The Relative Strength Index indicator is now close to the overbought zone. There is still some room to the upside on the indicator but there could be a small pullback first.

The ultimate target could be the red resistance zone near 0.6980 this level has been a strong rejection point on two occasions on the chart. If it does manage to break the psychological 0.70 could be next. The daily chart is still showing a strong uptrend and maybe this move and consolidation was just a retracement.

AUD/USD Technical Analysis

Additional levels

AUD/USD

Overview
Today last price 0.6893
Today Daily Change 0.0028
Today Daily Change % 0.41
Today daily open 0.6865
 
Trends
Daily SMA20 0.6906
Daily SMA50 0.6664
Daily SMA100 0.6504
Daily SMA200 0.6668
 
Levels
Previous Daily High 0.6911
Previous Daily Low 0.6841
Previous Weekly High 0.6975
Previous Weekly Low 0.6811
Previous Monthly High 0.6683
Previous Monthly Low 0.6372
Daily Fibonacci 38.2% 0.6884
Daily Fibonacci 61.8% 0.6867
Daily Pivot Point S1 0.6834
Daily Pivot Point S2 0.6802
Daily Pivot Point S3 0.6764
Daily Pivot Point R1 0.6904
Daily Pivot Point R2 0.6942
Daily Pivot Point R3 0.6974

 

 

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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.

EUR/USD News

GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.

GBP/USD News

XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI drops to fresh weekly lows below $39 amid virus risks, IEA forecast

WTI (August futures on Nymex) extends the steep declines seen on Thursday to drops over 1.50% in the European session this Friday. The oil bears breach the 39 level to hit the lowest levels in eight days at 38.76.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures