• AUD/USD takes offers to refresh intraday low after posting the bearish candlestick.
  • Moderna Chief’s comments offer immediate burden on the risk catalysts.
  • 20-SMA and two-week-old resistance line limit short-term upside.
  • Yearly low holds the key for 100-pip fall, 0.7100 adds to the downside filters.

AUD/USD sellers attack yearly bottom surrounding 0.7100 in a fresh wave of selling ahead of Tuesday’s European session. The latest fall in Aussie prices could be linked from the markets fears that the global medicine suppliers will lack strength to overcome the Omicron-led virus woes.

The market fears got boost from Moderna’s Chief Executive Stéphane Bancel. Also weighing on the risk apetite could be early-Asian prepared remarks from Fed Chair Jerome Powell who kept his reflation view intact despite citing virus woes to weigh price pressure and employment.

In doing so, the Aussie pair justifies the bearish Doji candlestick on the four-hour chart below a fortnight-old resistance line and 20-SMA. Adding to the bearish bias is the MACD line’s failure to extend previous recovery moves.

While Doji and the stated upside hurdles direct AUD/USD prices to the south, the yearly low near 0.7105 and the 0.7100 challenges the pair sellers.

However, a clear downside break of the 0.7000 mark will open a door for a 100-pip fall towards a horizontal area comprising multiple levels marked since June 2020.

Alternatively, 20-SMA and the stated immediate support line restricts corrective pullback below 0.7155, a break of which will direct the AUD/USD buyers towards the 0.7200 threshold.

To sum up, bears are likely to keep the reins ahead of US CB Consumer Confidence for November and covid updates, followed by Fed Chair Jerome Powell’s testimony.

AUD/USD: Four-hour chart

Trend: Further weakness expected


Today last price 0.7127
Today Daily Change -0.0004
Today Daily Change % -0.06
Today daily open 0.7131
Daily SMA20 0.7298
Daily SMA50 0.7339
Daily SMA100 0.734
Daily SMA200 0.7515
Previous Daily High 0.716
Previous Daily Low 0.7114
Previous Weekly High 0.7273
Previous Weekly Low 0.7111
Previous Monthly High 0.7557
Previous Monthly Low 0.7191
Daily Fibonacci 38.2% 0.7131
Daily Fibonacci 61.8% 0.7142
Daily Pivot Point S1 0.711
Daily Pivot Point S2 0.7088
Daily Pivot Point S3 0.7063
Daily Pivot Point R1 0.7156
Daily Pivot Point R2 0.7181
Daily Pivot Point R3 0.7203


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 Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD bulls seek a break of 0.6925 for 0.6950 target area

AUD/USD bulls seek a break of 0.6925 for 0.6950 target area

AUD/USD is consolidated at the start of the Asian day following some back and forth at the start of the week. The Aussie is trading at 0.6922 and will be dependent on the trajectory of the greenback in the absence of domestic data this week other than Retail Sales tomorrow. 


EUR/USD retreats from fortnight high near 1.0600 on recession/inflation fears

EUR/USD retreats from fortnight high near 1.0600 on recession/inflation fears

EUR/USD holds onto the pullback from a two-week high as bulls get rejections from short-term key resistances, as well as risk-off mood, during Tuesday’s Asian session. The major currency pair remains pressured around 1.0585.


Gold sees downside below $1,820, focus shifts to Fed Powell

Gold sees downside below $1,820, focus shifts to Fed Powell

Gold price displayed a failed attempt to sustain above the critical resistance of $1,840.00 on Monday. The precious metal has turned sideways after a sheer downside move and is expected to extend its losses after violating the crucial support of $1,820.85.

Gold News

Terra’s LUNA price finally shows the buy signal you’ve been waiting for

Terra’s LUNA price finally shows the buy signal you’ve been waiting for

Terra’s LUNA price shows optimism to start the final week of June. The potential for a new bull run is beginning to materialize. LUNA price sees an uptick in social media commentary.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!