AUD/USD Technical Analysis: Bears keep Aussie below 0.7200 figure getting ready to revisit the 2018 low

AUD/USD bear trend remains intact as the market rejected the 0.7200 figure.
AUD/USD is trading below its 100 and 200-period simple moving average while the RSI, MACD and Stochastics indicators are turning bearish.
Bears objective is to break below 0.7144 support (September 5 low) in order to reach 0.7085 (2018 low)

Flavio Tosti Independent Analyst

AUD/USD 4-hour chart

Spot rate: 0.7162
Relative change: -0.46%
High: 0.7218
Low: 0.7153

Main trend: Bearish

Resistance 1: 0.7200 figure August 15 low
Resistance 2: 0.7236 August 24 low
Resistance 3: 0.7255 August 13 low
Resistance 4: 0.7294 August 13 high

Support 1: 0.7144 September 5 low
Support 2: 0.7085, 2018 low
Support 3: 0.7000 figure
Support 4: 0.6830 January 15, 2016 low

Author

Flavio Tosti

Independent Analyst

EUR/USD faces next resistance near 1.1930

EUR/USD has surrendered its earlier intraday advance on Thursday and is now hovering uncomfortably around the 1.1860 region amid modest gains in the US Dolla. Moving forward, markets are exoected to closely follow Friday’s release of US CPI data.

GBP/USD inching closer to 1.36

The Pound Sterling edged higher to 1.3640 on Thursday, recovering from an earlier pullback after stronger-than-expected US jobs data initially weighed on the pair. The Bank of England held rates at 3.75% at its February 4 meeting in a narrow 5-4 vote split, with four members preferring a 25 basis point cut to 3.50%.

Gold falls to near $4,900 as selling pressure intensifies

Gold price faces some selling pressure around $4,910 during the early Asian session on Friday. The yellow metal tumbles over 3.50% on the day, with algorithmic traders appearing to amplify the precious metal’s sudden drop. Traders will closely monitor the release of the US Consumer Price Index inflation report for January, which will be released later on Friday.

Ethereum investors face huge unrealized losses following price slump

US spot Ethereum exchange-traded funds flipped negative again on Wednesday after recording net outflows of $129.1 million, reversing mild inflows seen at the beginning of the week, per SoSoValue data. Fidelity's FETH was responsible for more than half of withdrawals, posting outflows of $67 million.

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.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.