AUD/USD technical analysis: Aussie ending the day on its low ahead of Australia job reports

The unemployment rate in Australia is forecast to slow down to 5.1% in May.
The US Dollar is on the rise across the board, sending AUD/USD down.

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is trading at its lowest in 7 days.

AUD/USD 4-hour chart

AUD/USD is about to end the day on its low and below its main SMAs.

AUD/USD 30-minute chart

AUD/USD is under bearish pressure below its main SMAs. A sustained break below 0.6930 can send the Aussie to 0.6900 and 0.6880/70. Resistances are seen at 0.6960 and 0.7000 levels.

Additional key levels

AUD/USD

Overview
Today last price	0.6927
Today Daily Change	-0.0035
Today Daily Change %	-0.50
Today daily open	0.6962

Trends
Daily SMA20	0.6931
Daily SMA50	0.7016
Daily SMA100	0.7068
Daily SMA200	0.7119

Levels
Previous Daily High	0.6967
Previous Daily Low	0.6946
Previous Weekly High	0.7022
Previous Weekly Low	0.6927
Previous Monthly High	0.7062
Previous Monthly Low	0.6862
Daily Fibonacci 38.2%	0.6954
Daily Fibonacci 61.8%	0.6959
Daily Pivot Point S1	0.695
Daily Pivot Point S2	0.6938
Daily Pivot Point S3	0.693
Daily Pivot Point R1	0.6971
Daily Pivot Point R2	0.6979
Daily Pivot Point R3	0.6991

Author

Flavio Tosti

Independent Analyst

EUR/USD meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

Ethereum Price Forecast: BitMine extends ETH buying streak, says long-term outlook remains positive

Ethereum (ETH) treasury firm BitMine Immersion continued its weekly purchase of the top altcoin last week after acquiring 45,759 ETH.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.