AUD/USD Technical Analysis: Big bears keep Aussie near 2018 lows targeting 0.7000 figure

  • AUD/USD main bear trend remains intact as it is consolidating within Friday’s range as some market participants are booking some profits.
  • AUD/USD is trading well below its 50, 100 and 200-day simple moving averages within a bear channel with the RSI, MACD and Stochastics indicators in bearish territories. The main bearish target is seen at the 0.7000 figure.
  • A sustained bull breakout above 0.7200 figure (August 15 low) would invalidate the bearish bias.  

AUD/USD 4-hour chart

Spot rate:                 0.7110
Relative change:      0.08%     
High:                        0.7133
Low:                         0.7098

Main trend:              Bearish

Resistance 1:          0.7144 September 5 low
Resistance 2:          0.7200 figure August 15 low
Resistance 3:          0.7236 August 24 low
Resistance 4:          0.7255 August 13 low
Resistance 5:          0.7294 August 13 high

Support 1:               0.7100 figure
Support 2:               0.7000 figure
Support 3:               0.6830 January 15, 2016 low 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.