AUD/USD technical analysis: The Aussie erases intraday gains as the market settles near 0.6860

AUD/USD remains confined in a narrow range as the bulls failed to move beyond 0.6875 resistance.
The level to beat for bears is the 0.6850 support.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The Aussie is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, the bulls had a sharp rebound in September as the market reached the 50 SMA at the 0.6858 level.

AUD/USD 4-hour chart

The Aussie is trading above the main simple moving averages (SMAs), suggesting bullish momentum in the near term. Buyers need a daily close above 0.6875 if they intend to extend the bull move. Further up lie 0.6890 and 0.6910 resistance levels, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

The Aussie erased its intraday gains as the market is now trading just below 0.6861 and the 50/100 SMAs. The market has been flat in the last three sessions. If bears breach 0.6850 support, it can open the door to further losses towards 0.6839 and 0.6825, according to the Technical Confluences Indicator.

Additional key levels

AUD/USD

Overview
Today last price	0.6857
Today Daily Change	-0.0003
Today Daily Change %	-0.04
Today daily open	0.686

Trends
Daily SMA20	0.6776
Daily SMA50	0.6862
Daily SMA100	0.6909
Daily SMA200	0.7019

Levels
Previous Daily High	0.6871
Previous Daily Low	0.6848
Previous Weekly High	0.6862
Previous Weekly Low	0.6687
Previous Monthly High	0.6869
Previous Monthly Low	0.6676
Daily Fibonacci 38.2%	0.6857
Daily Fibonacci 61.8%	0.6862
Daily Pivot Point S1	0.6848
Daily Pivot Point S2	0.6837
Daily Pivot Point S3	0.6825
Daily Pivot Point R1	0.6871
Daily Pivot Point R2	0.6883
Daily Pivot Point R3	0.6894

Author

Flavio Tosti

Independent Analyst

EUR/USD falls to near 1.1600 due to persistent bearish bias

EUR/USD depreciates after registering modest gains in the previous session, trading around 1.1610 during the Asian hours on Thursday. The technical analysis of the daily chart suggests a persistent bearish bias as the EUR/USD pair remains within the descending channel pattern.

GBP/USD underperforms as UK faces stagflation risks amid Middle East war

The Pound Sterling trades lower against its major currency peers, is down 0.22% around 1.3340 against the US Dollar, during the Asian trade on Thursday. The British currency faces selling pressures amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, a situation in which inflation accelerates with economic growth and employment conditions remaining stagnant.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Top Crypto Gainers: Decred, Zcash, and Dogecoin lead recovery as Bitcoin crosses $72,000

Bitcoin trades above $72,500 at press time on Thursday, holding its 6% gain from the previous day, contributing to a broader market recovery. The total cryptocurrency market capitalization stands at over $2.43 trillion as the broader market sentiment improves significantly.

First Venezuela, now Iran: The US-China energy war escalates

At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.