AUD/USD technical analysis: Aussie drops to 0.6955 support on USD strength

AUD/USD is turning bearish as the USD gains momentum.
The level to beat for bears is the 0.6955 support.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The Aussie is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The US Dollar strengthened across the board on the back of better-than-expected Nonfarm Payrolls readings in June.

AUD/USD 4-hour chart

AUD/USDbeached 0.7005 support and is now testing 0.6955 support. Sellers want to break this level to the downside to reach 0.6928 according to the Technical Confluences Indicator. However, the Aussie might need to consolidate losses before breaking below 0.6955.

AUD/USD 30-minute chart

AUD/USD is trading below 0.6990 resistance and the main SMAs. The bias is to the downside. However, the Aussie might need to consolidate losses before breaking below 0.6955. Resistance is seen at 0.6990 and 0.7005

Additional key levels

AUD/USD

Overview
Today last price	0.6966
Today Daily Change	-0.0055
Today Daily Change %	-0.78
Today daily open	0.7021

Trends
Daily SMA20	0.6952
Daily SMA50	0.6956
Daily SMA100	0.7033
Daily SMA200	0.7098

Levels
Previous Daily High	0.7049
Previous Daily Low	0.7014
Previous Weekly High	0.7026
Previous Weekly Low	0.6926
Previous Monthly High	0.7026
Previous Monthly Low	0.6831
Daily Fibonacci 38.2%	0.7028
Daily Fibonacci 61.8%	0.7036
Daily Pivot Point S1	0.7007
Daily Pivot Point S2	0.6994
Daily Pivot Point S3	0.6973
Daily Pivot Point R1	0.7042
Daily Pivot Point R2	0.7063
Daily Pivot Point R3	0.7076

Author

Flavio Tosti

Independent Analyst

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