AUD/USD Technical Analysis: 0.7100 remains a question mark

The past twenty-four hours see the Aussie looking for a recovery after slipping into a new 2018 low last Friday of 0.7020, but the pair still remains constrained by last week's ending peak at the 0.7100 handle.

Joshua Gibson FXStreet

AUD/USD, M5

The last two weeks shows the AUD/USD struggling to fight back from a new yearly low, and last week's pickup to close out the action last Friday shows signs of overextension, and a failure to reclaim the 0.7100 handle in a meaningful will have the pair back under a declining trendline.

AUD/USD, M30

The past month still shows the Aussie off of its last major swing high near 0.7150, and bears could step in soon as broader markets resume being driven by flows into and out of the US Dollar.

AUD/USD, H4

AUD/USD

Overview:
    Last Price: 0.7099
    Daily change: 6.0 pips
    Daily change: 0.0846%
    Daily Open: 0.7093
Trends:
    Daily SMA20: 0.7106
    Daily SMA50: 0.7186
    Daily SMA100: 0.7292
    Daily SMA200: 0.7513
Levels:
    Daily High: 0.7106
    Daily Low: 0.702
    Weekly High: 0.7128
    Weekly Low: 0.702
    Monthly High: 0.7316
    Monthly Low: 0.7085
    Daily Fibonacci 38.2%: 0.7073
    Daily Fibonacci 61.8%: 0.7053
    Daily Pivot Point S1: 0.704
    Daily Pivot Point S2: 0.6988
    Daily Pivot Point S3: 0.6954
    Daily Pivot Point R1: 0.7126
    Daily Pivot Point R2: 0.7159
    Daily Pivot Point R3: 0.7211

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.