AUD/USD technical analysis: Aussie ends the week at a stone throw from the 100-day SMA

The Aussie is trading at weekly highs into the Friday close.
The level to beat for bulls is the 0.6860 level, followed by 0.6878 resistance.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The Aussie is trading in a downtrend below its 100 and 200-day simple moving averages (DSMAs) on the daily chart. However, in October, the market has been rebounding sharply to almost reach the 100 SMA at 0.6859.

AUD/USD 4-hour chart

The market is trading above the main SMAs, suggesting a bullish momentum in the medium term. The spot is challenging the 0.6860 resistance while spiking to the upside. A break above the level can see the Aussie moving up to the 0.6860 and 0.6878 price levels, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading above the main SMAs on the 30-minute chart, suggesting a bullish bias in the near term. Support is seen at the 0.6835 and 0.6820 price levels.

Additional key levels

AUD/USD

Overview
Today last price	0.6857
Today Daily Change	0.0033
Today Daily Change %	0.48
Today daily open	0.6824

Trends
Daily SMA20	0.6756
Daily SMA50	0.6779
Daily SMA100	0.686
Daily SMA200	0.6972

Levels
Previous Daily High	0.6834
Previous Daily Low	0.675
Previous Weekly High	0.6811
Previous Weekly Low	0.6704
Previous Monthly High	0.6895
Previous Monthly Low	0.6687
Daily Fibonacci 38.2%	0.6802
Daily Fibonacci 61.8%	0.6782
Daily Pivot Point S1	0.6771
Daily Pivot Point S2	0.6718
Daily Pivot Point S3	0.6687
Daily Pivot Point R1	0.6856
Daily Pivot Point R2	0.6887
Daily Pivot Point R3	0.694

Author

Flavio Tosti

Independent Analyst

EUR/USD onsolidates around mid-1.1800s as traders keenly await FOMC Minutes

The EUR/USD pair struggles to capitalize on the previous day's goodish rebound from the 1.1800 neighborhood, or a one-and-a-half-week low, and consolidates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1800s, nearly unchanged for the day.

GBP/USD seems vulnerable near mid-1.3500s; UK CPI/FOMC Minutes awaited

The GBP/USD pair struggles to capitalize on the previous day's late rebound from an over one-week low – levels below the 1.3500 psychological mark – and trades with a negative bias for the third consecutive day on Wednesday. The downside, however, remains cushioned as investors seem reluctant to place aggressive directional bets ahead of the release of the latest UK consumer inflation figures and FOMC Minutes.

Gold regains positive traction after Tuesday's over 2% slump as traders await FOMC Minutes

Gold gains some positive traction during the Asian session on Wednesday and recovers a part of the previous day's heavy losses more than 2%, to the $4,843-4,842 region or a nearly two-week low. The intraday move higher could be attributed to repositioning trade ahead of the release of the FOMC Minutes.

Top Crypto Gainers: Jito drops, Morpho holds steady, Convex Finance climbs

Decentralized Finance tokens, including Jito, Morpho, and Convex Finance, rank among the top-performing crypto assets over the last 24 hours. Jito dips on Wednesday after rallying 22% the previous day on the launch of a new mainnet node.

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.