- 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.
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
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD consolidates recovery below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery but remains below 1.0700 in early Europe on Thursday. The US Dollar holds its corrective decline amid a stabilizing market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD advances toward 1.2500 on weaker US Dollar
GBP/USD is extending recovery gains toward 1.2500 in the European morning on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions
Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price is defending support at $1.80 as multiple technical indicators flash bearish. 21.67 million MANTA tokens worth $44 million are due to flood markets in a cliff unlock on Thursday.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.