AUD/USD technical analysis: Sharp turnaround after hitting new October highs above 0.6900 handle

The Aussie is trading near daily lows after reaching new monthly highs.
The level to beat for bears is the 0.6870 support level.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The Aussie is trading in a bear trend below the 200-day simple moving average (DMA) on the daily chart. This Thursday the Aussie reached a new October high shooting above the 0.6900 handle. However, the spot is retreating and is at press time trading near daily lows.

AUD/USD 4-hour chart

The spot is trading above its main SMAs, suggesting a bullish bias in the medium term. However, the spot is having a sharp turnaround now trading back below the 0.6895 resistance. If bulls can reclaim this level, they might try to regain the recent high at 0.6930. Otherwise, the market may continue to drift down towards 0.6870 and 0.6849 support level, according to the Technical Confluences Indicator.

Additional key levels

AUD/USD

Overview
Today last price	0.6887
Today Daily Change	-0.0016
Today Daily Change %	-0.23
Today daily open	0.6903

Trends
Daily SMA20	0.6802
Daily SMA50	0.6793
Daily SMA100	0.685
Daily SMA200	0.6958

Levels
Previous Daily High	0.6906
Previous Daily Low	0.6848
Previous Weekly High	0.6884
Previous Weekly Low	0.6808
Previous Monthly High	0.6895
Previous Monthly Low	0.6687
Daily Fibonacci 38.2%	0.6884
Daily Fibonacci 61.8%	0.687
Daily Pivot Point S1	0.6865
Daily Pivot Point S2	0.6828
Daily Pivot Point S3	0.6807
Daily Pivot Point R1	0.6924
Daily Pivot Point R2	0.6944
Daily Pivot Point R3	0.6982

Author

Flavio Tosti

Independent Analyst

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