AUD/USD Technical Analysis: Failure to cross 0.7135-40 seems to recall the weekly low around 0.7050

  • The AUD/USD slips under 0.7090 by the end of Wednesday’s trading.
  • The pair reversed from 0.7135-40 horizontal resistance-region comprising highs marked during the middle of January 06 and low of January 29.
  • As a result, low of the early present week near 0.7050 comes back in focus for sellers.
  • However, 0.7080 and 0.7065 may offer intermediate halts during the drop.
  • In case the quote slid beneath 0.7050, 61.8% Fibonacci expansion of its moves to January 06 high to February 13, at 0.7015, may appear on bears’ radar to target.
  • On the upside, 0.7120 can become immediate resistance for the pair before highlighting 0.7135-40 for one more time.
  • Given the recovery beyond 0.7140, a downward sloping trend-line near 0.7185, followed by 0.7225, can entertain the buyers.

AUD/USD hourly chart

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