AUD/USD technical analysis: Bulls take a brief pause near 50% Fibo. level, around 0.6880 region

  • The pair continued gaining traction on Monday and climbed to over one-month tops.
  • The momentum lifted the pair further beyond 100-DMA for the first time since July 23.
  • Overbought conditions on hourly charts seemed to be the only factor capping gains.

The AUD/USD pair gained some follow-through traction on Monday and added to its recent goodish recovery move from multi-year lows set earlier this month. The positive momentum beyond 100-day SMA – for the first time since July 23 – lifted the pair to over one-month tops.
The pair now seems to have entered a bullish consolidation phase and was seen oscillating in a narrow trading band around the 0.6880-90 previous congestion zone, which coincides with 50% Fibonacci level of the 0.7082-0.6671 downfall and should now act as a key pivotal point.
Meanwhile, bullish technical indicators on the daily chart support prospects for additional gains, albeit slightly overbought conditions on hourly charts seemed to be the only factor holding investors from placing fresh bullish bets and capping further gains, at least for the time being.
Hence, it will be prudent to wait for a strong follow-through buying beyond the 0.6900 handle before traders start positioning for any further near-term appreciating move towards testing the next hurdle marked by 61.8% Fibo. level resistance – around the 0.6925 region.
On the flip side, 100-DMA resistance breakpoint, around the 0.6860 region, now seems to protect the immediate downside and is closely followed by 38.2% Fibo. support near the 0.6830-25 area, which if broken might negate the constructive set-up and prompt some fresh technical selling.

AUD/USD daily chart



Today last price 0.6878
Today Daily Change 0.0024
Today Daily Change % 0.35
Today daily open 0.6854
Daily SMA20 0.676
Daily SMA50 0.678
Daily SMA100 0.6859
Daily SMA200 0.697
Previous Daily High 0.6858
Previous Daily Low 0.682
Previous Weekly High 0.6858
Previous Weekly Low 0.672
Previous Monthly High 0.6895
Previous Monthly Low 0.6687
Daily Fibonacci 38.2% 0.6843
Daily Fibonacci 61.8% 0.6835
Daily Pivot Point S1 0.683
Daily Pivot Point S2 0.6806
Daily Pivot Point S3 0.6792
Daily Pivot Point R1 0.6868
Daily Pivot Point R2 0.6882
Daily Pivot Point R3 0.6906



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 assets. 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.


GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.


Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News