AUD/USD Technical Analysis: Aussie trading near the 2019 low

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is trading in a bear trend below the 200-day simple moving average (SMA).
AUD/USD is trading near the 2019 low.

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 100 and 200 SMAs suggesting bearish momentum in the short-term.
Bears will need to overcome the 0.7060 support in order to travel to 0.7000 figure to the downside.
On the flip side, the level to beat for bulls is 0.7120. A break of this resistance can lead to a recovery to 0.7240.

Additional key levels

AUD/USD

Overview:
    Today Last Price: 0.7093
    Today Daily change: -10 pips
    Today Daily change %: -0.14%
    Today Daily Open: 0.7103
Trends:
    Daily SMA20: 0.718
    Daily SMA50: 0.7161
    Daily SMA100: 0.7171
    Daily SMA200: 0.7285
Levels:
    Previous Daily High: 0.712
    Previous Daily Low: 0.7088
    Previous Weekly High: 0.7296
    Previous Weekly Low: 0.7138
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.71
    Daily Fibonacci 61.8%: 0.7108
    Daily Pivot Point S1: 0.7087
    Daily Pivot Point S2: 0.7072
    Daily Pivot Point S3: 0.7055
    Daily Pivot Point R1: 0.7119
    Daily Pivot Point R2: 0.7136
    Daily Pivot Point R3: 0.7151

Author

Flavio Tosti

Independent Analyst

EUR/USD stays defensive below 1.1900 as USD recovers

EUR/USD trades in negative territory for the third consecutive day, below 1.1900 in the European session on Thursday. A modest rebound in the US Dollar is weighing on the pair, despite an upbeat market mood. Traders keep an eye on the US weekly Initial Jobless Claims data for further trading impetus.

GBP/USD holds above 1.3600 after UK data dump

\GBP/USD moves little while holding above 1.3600 in the European session on Thursday, following the release of the UK Q4 preliminary GDP, which showed a 0.1% growth against a 0.2% increase expected. The UK industrial sector activity deteriorated in Decembert, keeping the downward pressure intact on the Pound Sterling.

Gold sticks to modest intraday losses as reduced March Fed rate cut bets underpin USD

Gold languishes near the lower end of its daily range heading into the European session on Thursday. The precious metal, however, lacks follow-through selling amid mixed cues and currently trades above the $5,050 level, well within striking distance of a nearly two-week low touched the previous day.

Cardano eyes short-term rebound as derivatives sentiment improves

Cardano (ADA) is trading at $0.257 at the time of writing on Thursday, after slipping more than 4% so far this week. Derivatives sentiment improves as ADA’s funding rates turn positive alongside rising long bets among traders.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility.