AUD/USD technical analysis: Aussie regaining some poise ahead of the FOMC

AUD/USD is ticking higher ahead of the FOMC at 18:00 GMT.
The level to beat for buyers is the 0.6874 resistance.

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, this September the Aussie has been rebounding sharply. All eyes will be on the FOMC at 18:00 GMT. The market has already priced in a 25 bps rate cut.

AUD/USD 4-hour chart

After dipping to the 0.6827 support, the Aussie is rebounding and trading above the 100/200 simple moving averages (SMAs), suggesting bullish momentum in the near term. However, the Aussie will need a daily close above the 0.6874 resistance to open the doors towards the 0.6900 and 0.6930 resistance, according to the Technical Confluences Indicator.

The bearish scenario involves sellers breaking below the 0.6827 support and driving the market towards the 0.6800 handle.

Additional key levels

AUD/USD

Overview
Today last price	0.6854
Today Daily Change	-0.0012
Today Daily Change %	-0.17
Today daily open	0.6866

Trends
Daily SMA20	0.6801
Daily SMA50	0.685
Daily SMA100	0.69
Daily SMA200	0.701

Levels
Previous Daily High	0.6871
Previous Daily Low	0.6829
Previous Weekly High	0.6895
Previous Weekly Low	0.6837
Previous Monthly High	0.6869
Previous Monthly Low	0.6676
Daily Fibonacci 38.2%	0.6855
Daily Fibonacci 61.8%	0.6845
Daily Pivot Point S1	0.684
Daily Pivot Point S2	0.6813
Daily Pivot Point S3	0.6798
Daily Pivot Point R1	0.6882
Daily Pivot Point R2	0.6897
Daily Pivot Point R3	0.6924

Author

Flavio Tosti

Independent Analyst

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