AUD/USD Technical Analysis: Looking south after bear doji reversal

Omkar Godbole FXStreet Contributor

AUD/USD closed at 0.7079 on Friday, validating the bearish view put forward by the long upper shadow attached the preceding day's doji candle.

The bearish reversal indicates the bounce from lows near 0.70 has likely made a temporary high at 0.7168 (Thu's high) and the immediate support at 0.7041 (Mar. 14 low) could soon come into play.

The immediate bearish case would weaken if the spot finds acceptance above 0.7090 (the low of Thursday's doji candle).

Daily chart

Trend: Bearish

AUD/USD

Overview
Today last price	0.7076
Today Daily Change	-6 pips
Today Daily Change %	-0.08
Today daily open	0.7082

Trends
Daily SMA20	0.7091
Daily SMA50	0.713
Daily SMA100	0.7159
Daily SMA200	0.7215

Levels
Previous Daily High	0.712
Previous Daily Low	0.7075
Previous Weekly High	0.7168
Previous Weekly Low	0.7057
Previous Monthly High	0.7285
Previous Monthly Low	0.7053
Daily Fibonacci 38.2%	0.7092
Daily Fibonacci 61.8%	0.7103
Daily Pivot Point S1	0.7065
Daily Pivot Point S2	0.7047
Daily Pivot Point S3	0.702
Daily Pivot Point R1	0.711
Daily Pivot Point R2	0.7137
Daily Pivot Point R3	0.7155

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold: Upside remains capped by $5,000

Gold is reclaiming part of the ground lost on Wednesday’s marked retracement, as bargain-hunters seem to have stepped in. The precious metal’s upside, however, appears limited amid the slightly better tone in the US Dollar after US inflation data saw the CPI rise less than estimated at the beginning of the year.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.