AUD/USD Technical Analysis: Upside is likely to remain capped near a support-turned-resistance

  • Bulls failed to capitalize on Friday’s goodish recovery move.
  • Weakness below 0.6800 needed to confirm any further slide.

The AUD/USD pair struggled to capitalize on the previous session's goodish recovery move and remained depressed through the early European session on Monday.
Given last week's sustained weakness below 100-day SMA, coinciding with over one-month-old ascending trend-line, the bias remains tilted in favour of bearish traders.
Meanwhile, mixed technical indicators on daily/hourly charts warrant some caution before placing any aggressive directional bets despite renewed trade optimism.
Hence, it will be prudent to wait for some follow-through selling below the 0.6800 handle before positioning for any subsequent slide back towards the 0.6770 region.
The downward momentum could further get extended towards challenging the 0.6700 round-figure mark with some intermediate support near the 0.6740-30 region.
On the flip side, the mentioned confluence support, currently near the 0.6835-40 region, now seems to act as immediate resistance and is closely followed by the 0.6875-80 supply zone.

AUD/USD daily chart



Today last price 0.6813
Today Daily Change -0.0003
Today Daily Change % -0.04
Today daily open 0.6816
Daily SMA20 0.6859
Daily SMA50 0.6817
Daily SMA100 0.6842
Daily SMA200 0.6939
Previous Daily High 0.6818
Previous Daily Low 0.678
Previous Weekly High 0.6866
Previous Weekly Low 0.6769
Previous Monthly High 0.693
Previous Monthly Low 0.667
Daily Fibonacci 38.2% 0.6803
Daily Fibonacci 61.8% 0.6795
Daily Pivot Point S1 0.6791
Daily Pivot Point S2 0.6767
Daily Pivot Point S3 0.6753
Daily Pivot Point R1 0.6829
Daily Pivot Point R2 0.6843
Daily Pivot Point R3 0.6867



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD remains below 1.1750 on dismal German IFO, risk-off mood

EUR/USD is holding steady below 1.1750 after German IFO surprised to the downside. Hawkish Fed, Evergande risks amid stimulus hopes keep investors wary. The US dollar attempts a bounce amid a cautious mood, firmer Treasury yields. Powell’s speech awaited.


GBP/USD battles 1.3700 amid risk-aversion

GBP/USD is battling 1.3700, as the US dollar holds its bonce amid worsening market mood. The pound reverses hawkish BOE-led gains, as Brexit woes and China Evergrande uncertainty weigh. Focus shifts to Powell's speech. 


XAU/USD clings to gains above $1,750, upside seems limited

Gold gained some positive traction on the last trading day of the week and recovered a part of the overnight slump to the lowest level since August 11.

Gold News

Axie Infinity nears the end of bearish outlook as AXS contemplates 25% gains

A brief technical and on-chain analysis on Axie Infinity price. Here, FXStreet's analysts evaluate how AXS behaves as it trades above key support.

Read more

German Elections Preview: Three EUR/USD scenarios for the post-Merkel dawn

Who will succeed Angela Merkel at the helm of Europe's largest economy? The long-serving beacon of stability is stepping down as Germany's Chancellor after 16 years, and her big shoes leave a hole in the old continent's leadership. 

Read more