AUD/USD technical analysis: Aussie off the 2019 low as bulls challenge daily highs near 0.6860 level

AUD/USD is bouncing from the 2019 low after two weeks of intense selling.
Above 0.6862, the correction can extend towards 0.6890 and 0.6930 resistances.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The Aussie is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is correcting up after reaching a new 2019 low at the 0.6828 level.

AUD/USD 4-hour chart

The Aussie is trading below its main SMAs as the market is challenging the June lows. Sellers would need to overcome 0.6847 support to continue the downward trajectory towards the 0.6830 and 0.6819 level, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

The market is challenging the 0.6862 resistance and the 50 SMA. A break above this level can open the doors to a more significant correction towards 0.6890 and 0.6930, according to the Technical Confluences Indicator.

Additional key levels

AUD/USD

Overview
Today last price	0.6857
Today Daily Change	0.0011
Today Daily Change %	0.16
Today daily open	0.6846

Trends
Daily SMA20	0.6977
Daily SMA50	0.6958
Daily SMA100	0.7008
Daily SMA200	0.7084

Levels
Previous Daily High	0.69
Previous Daily Low	0.6832
Previous Weekly High	0.7058
Previous Weekly Low	0.6902
Previous Monthly High	0.7082
Previous Monthly Low	0.6832
Daily Fibonacci 38.2%	0.6858
Daily Fibonacci 61.8%	0.6874
Daily Pivot Point S1	0.6818
Daily Pivot Point S2	0.6791
Daily Pivot Point S3	0.675
Daily Pivot Point R1	0.6887
Daily Pivot Point R2	0.6928
Daily Pivot Point R3	0.6955

Author

Flavio Tosti

Independent Analyst

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