AUD/USD slides to over 1-week lows, around 0.6860 region

AUD/USD meets with some fresh supply near 200-day SMA amid stronger USD.
Cautious mood further benefitted the greenback’s perceived safe-haven status.

Haresh Menghani FXStreet

The AUD/USD pair failed to capitalize on its early uptick and dropped to over one-week lows, around the 0.6860 region during the mid-European session on Monday.

The pair met with some fresh supply near the very important 200-day SMA and drifted into the negative territory for the third consecutive session amid some follow-through US dollar buying interest.

Aussie weighed down by stronger USD

The greenback remained well supported by the recent upbeat US economic data, which raised expectations that the economy will continue to expand and reduced odds of any further rate cuts by the Fed.

This coupled with a slight deterioration in the global risk sentiment further benefitted the USD's safe-haven status against the perceived riskier currencies – like the aussie – and collaborated to the downfall.

The downside, however, is likely to remain cushioned amid relatively lighter trading volumes on the back of a holiday in the US and absent relevant market-moving economic releases, warranting some caution.

Technical levels to watch

AUD/USD

Overview
Today last price	0.6866
Today Daily Change	-0.0010
Today Daily Change %	-0.15
Today daily open	0.6876

Trends
Daily SMA20	0.6929
Daily SMA50	0.687
Daily SMA100	0.6841
Daily SMA200	0.6887

Levels
Previous Daily High	0.6912
Previous Daily Low	0.6871
Previous Weekly High	0.6935
Previous Weekly Low	0.6871
Previous Monthly High	0.7033
Previous Monthly Low	0.6762
Daily Fibonacci 38.2%	0.6887
Daily Fibonacci 61.8%	0.6896
Daily Pivot Point S1	0.6861
Daily Pivot Point S2	0.6845
Daily Pivot Point S3	0.682
Daily Pivot Point R1	0.6902
Daily Pivot Point R2	0.6927
Daily Pivot Point R3	0.6943

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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