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

fxsoriginal

AUD/USD

Overview
Today last price 0.6813
Today Daily Change -0.0003
Today Daily Change % -0.04
Today daily open 0.6816
 
Trends
Daily SMA20 0.6859
Daily SMA50 0.6817
Daily SMA100 0.6842
Daily SMA200 0.6939
 
Levels
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

 

 

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