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.

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