AUD/USD technical analysis: Approaching key support at 0.6899


  • AUD/USD's daily chart is biased toward the bears.
  • The pair looks set to violate the bullish higher low pattern with a move below 0.6899.

AUD/USD is closing on 0.6899 – a bullish higher low created on May 30 – having dived out of an ascending trendline on Wednesday.  

The currency pair is currently trading at 0.6912, representing a 0.20% drop on the day.

The pair closed at 0.6928 on Wednesday, confirming a downside break of the trendline trending higher from May 23 and May 31 lows.

The violation of the rising trendline is preceded by rejection at the 50-day moving average and is accompanied by a bearish crossover of the 5- and 10-day moving averages (MAs).

Add to that, risk aversion in equities and an uptick in Australia's underemployment rate in May, and the spot looks set for a drop below 0.6899. That would further bolster the bearish setup and allow retest of the recent low of 0.6865.

Daily chart

Trend: Bearish

Technical levels

AUD/USD

Overview
Today last price 0.6912
Today Daily Change -0.0012
Today Daily Change % -0.17
Today daily open 0.6928
 
Trends
Daily SMA20 0.6931
Daily SMA50 0.7013
Daily SMA100 0.7066
Daily SMA200 0.7118
Levels
Previous Daily High 0.6964
Previous Daily Low 0.6924
Previous Weekly High 0.7022
Previous Weekly Low 0.6927
Previous Monthly High 0.7062
Previous Monthly Low 0.6862
Daily Fibonacci 38.2% 0.6939
Daily Fibonacci 61.8% 0.6949
Daily Pivot Point S1 0.6913
Daily Pivot Point S2 0.6899
Daily Pivot Point S3 0.6873
Daily Pivot Point R1 0.6953
Daily Pivot Point R2 0.6979
Daily Pivot Point R3 0.6993

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.

EUR/USD News

GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 

GBP/USD News

USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.

USD/JPY News

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Forex MAJORS

Cryptocurrencies

Signatures