AUD/USD Technical Analysis: Tucking into fresh weekly lows near 0.7060 as bearish trendline remains

Joshua Gibson FXStreet

The last twenty-four hours have been poor to the AUD/USD, with the Aussie slipping back down after rejecting off of a descending trendline, formed off of last Friday's peak at 0.7150, a major consolidation and resistance zone.

AUD/USD, M5

The past week has seen the AUD/USD accelerate its bearish stance, declining outside the low end of the pair's declining channel, and the lower boundary could turn into a key resistance level.

AUD/USD, M30

The AUD/USD has seen a bearish lean in the past month as well, declining into a short side trendline break from 0.7090, and the pair could remain constrained near the last swing low near 0.7050 unless bears gather enough momentum to break the Aussie into a fresh 2018 low.

AUD/USD, H4

AUD/USD

Overview:
    Last Price: 0.7073
    Daily change: -8.0 pips
    Daily change: -0.113%
    Daily Open: 0.7081
Trends:
    Daily SMA20: 0.7137
    Daily SMA50: 0.72
    Daily SMA100: 0.7314
    Daily SMA200: 0.7531
Levels:
    Daily High: 0.7128
    Daily Low: 0.7076
    Weekly High: 0.7161
    Weekly Low: 0.7089
    Monthly High: 0.7316
    Monthly Low: 0.7085
    Daily Fibonacci 38.2%: 0.7095
    Daily Fibonacci 61.8%: 0.7108
    Daily Pivot Point S1: 0.7062
    Daily Pivot Point S2: 0.7043
    Daily Pivot Point S3: 0.701
    Daily Pivot Point R1: 0.7114
    Daily Pivot Point R2: 0.7147
    Daily Pivot Point R3: 0.7166

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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