AUD/USD Technical Analysis: Aussie hugs 0.7100 figure post-RBA inspired bloodbath


AUD/USD daily chart

  • AUD/USD is trading in a bear trend below the 200-day simple moving average (SMA).
  • Back on Wednesday, Reserve Bank of Australia's Lowe shifted the forward guidance to neutral and hinted at cutting rates and the AUD dropped more than a 100 pips.

AUD/USD 4-hour chart

  • AUD/USD is trading below its main SMAs suggesting bearish momentum in the medium-term.


AUD/USD 30-minute chart

  • Aussie is trading below its main SMAs suggesting bearish momentum in the short-term.
  • Bears will need to overcome the 0.7070 support in order to travel to 0.7000 figure to the downside.
  • On the flip side, resistances are seen near 0.7140 and 0.7180 level.

Additional key levels

AUD/USD

Overview:
    Today Last Price: 0.71
    Today Daily change: -19 pips
    Today Daily change %: -0.27%
    Today Daily Open: 0.7119
Trends:
    Daily SMA20: 0.7184
    Daily SMA50: 0.7165
    Daily SMA100: 0.7172
    Daily SMA200: 0.7287
Levels:
    Previous Daily High: 0.7246
    Previous Daily Low: 0.7109
    Previous Weekly High: 0.7296
    Previous Weekly Low: 0.7138
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.7161
    Daily Fibonacci 61.8%: 0.7194
    Daily Pivot Point S1: 0.707
    Daily Pivot Point S2: 0.7021
    Daily Pivot Point S3: 0.6933
    Daily Pivot Point R1: 0.7207
    Daily Pivot Point R2: 0.7295
    Daily Pivot Point R3: 0.7344

 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended content

Editors’ Picks

EUR/USD retreats to 1.0750, eyes on Fedspeak

EUR/USD retreats to 1.0750, eyes on Fedspeak

EUR/USD stays under modest bearish pressure and trades slightly near 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.

EUR/USD News

GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event

GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event

GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.

GBP/USD News

Gold fluctuates in narrow range below $2,320

Gold fluctuates in narrow range below $2,320

After retreating to the $2,310 area early Wednesday, Gold regained its traction and rose toward $2,320. Hawkish tone of Fed policymakers help the US Treasury bond yields edge higher and make it difficult for XAU/USD to gather bullish momentum.

Gold News

SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51

SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51

Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version. 

Read more

Softer growth, cooler inflation and rate cuts remain on the horizon

Softer growth, cooler inflation and rate cuts remain on the horizon

Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.

Read more

Forex MAJORS

Cryptocurrencies

Signatures