AUD/USD Technical Analysis: Falling wedge breakout confirmed, but risk-off may play spoil sport


AUD/USD closed yesterday at 0.7112, confirming a falling wedge breakout on the daily chart. 

While the bear-to-bull trend change has opened the doors to 0.72, the gains may remain elusive if the treasury yield curve inversion and the resulting recession fears continue to keep risk assets on the defensive. 

That said, the breakout is backed by the 14-day relative strength index's (RSIs) bullish break above 50.00. So, the probability of the AUD rising to 0.72 looks strong. The bullish case, however, would weak if potential risk-off sends the pair below 0.7065 (Monday's low). 

Daily chart

Trend: Cautiously bullish

AUD/USD

Overview
Today last price 0.7121
Today Daily Change 9 pips
Today Daily Change % 0.13
Today daily open 0.7112
 
Trends
Daily SMA20 0.7088
Daily SMA50 0.7128
Daily SMA100 0.7158
Daily SMA200 0.7214
 
Levels
Previous Daily High 0.7118
Previous Daily Low 0.7065
Previous Weekly High 0.7168
Previous Weekly Low 0.7057
Previous Monthly High 0.7285
Previous Monthly Low 0.7053
Daily Fibonacci 38.2% 0.7098
Daily Fibonacci 61.8% 0.7085
Daily Pivot Point S1 0.7079
Daily Pivot Point S2 0.7045
Daily Pivot Point S3 0.7026
Daily Pivot Point R1 0.7132
Daily Pivot Point R2 0.7151
Daily Pivot Point R3 0.7185

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD directionless just above 1.1200

The EUR/USD pair has started the week gapping lower amid tensions in the Middle East giving the greenback an extra lift. ECB monetary policy decision later this week weighing on the shared currency.

EUR/USD News

GBP/USD depressed but off daily lows

The Sterling came under selling pressure on news that Sir Alan Duncan has resigned as foreign office minister in the middle of a conflict with Iran. Tensions mounts ahead of Tories’ leadership definition.

GBP/USD News

USD/JPY remains in daily range below 108 following Kuroda comments

The USD/JPY pair is having a hard time finding direction in the second half of the day and continues to move sideways below the 108 mark.

USD/JPY News

Gold in search of a firm direction, stuck in a range below $1430 area

Gold extended its sideways consolidative price action through the mid-European session on Monday and remained confined in a narrow trading band, around the $1425 region.

Gold News

Altcoins are set up to hunt for Bitcoin

Among the main Altcoins, only Ethereum is yet to be crossed upwards. XRP moves in another ecosystem and will not pull the market. Libra may be positive, not a danger to the market.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •