#AUDUSD @ 0.68486 -imp levels: Price Analysis: Bears renew six-week low on the way to 0.6800
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The pair currently trades last at 0.68486.
The previous day high was 0.701 while the previous day low was 0.6888. The daily 38.2% Fib levels comes at 0.6934, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6963, expected to provide resistance.
AUD/USD remains on the back foot as sellers keep reins around a 1.5-month low heading into Monday’s European session. That said, the Aussie pair renews the multi-day bottom around 0.6840 by the press time.
In doing so, the quote takes clues from the clear downside break of an ascending support line from July 14, now resistance around the 0.6900 threshold. Also keeping the AUD/USD sellers hopeful are the bearish MACD signals.
It’s worth noting, however, that the RSI (14) approaches the oversold territory and may probe the AUD/USD pair’s further downside.
As a result, a six-week-old horizontal support area surrounding the 0.6800 round figure appears crucial to watch.
Should the quote drop below 0.6800, the odds of witnessing a slump towards the yearly low marked in July around 0.6680 can’t be ruled out.
Meanwhile, recovery remains elusive until the AUD/USD prices remain below the support-turned-resistance line, close to 0.6900 at the latest.
Even so, the 100-SMA and the latest swing high, respectively around 0.6970 and 0.7010, could challenge the pair’s upside momentum.
Trend: Further downside expected
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6844 at the time of writing. Pair opened at 0.6912 and is trading with a change of -0.98% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6844 |
| 1 | Today Daily Change | -0.0068 |
| 2 | Today Daily Change % | -0.98% |
| 3 | Today daily open | 0.6912 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.697, 50 SMA 0.6916, 100 SMA @ 0.7028 and 200 SMA @ 0.7133.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6970 |
| 1 | Daily SMA50 | 0.6916 |
| 2 | Daily SMA100 | 0.7028 |
| 3 | Daily SMA200 | 0.7133 |
The previous day high was 0.701 while the previous day low was 0.6888. The daily 38.2% Fib levels comes at 0.6934, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6963, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.6863, 0.6814, 0.6741
- Pivot resistance is noted at 0.6985, 0.7059, 0.7108
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.7010 |
| Previous Daily Low | 0.6888 |
| Previous Weekly High | 0.7010 |
| Previous Weekly Low | 0.6855 |
| Previous Monthly High | 0.7033 |
| Previous Monthly Low | 0.6680 |
| Daily Fibonacci 38.2% | 0.6934 |
| Daily Fibonacci 61.8% | 0.6963 |
| Daily Pivot Point S1 | 0.6863 |
| Daily Pivot Point S2 | 0.6814 |
| Daily Pivot Point S3 | 0.6741 |
| Daily Pivot Point R1 | 0.6985 |
| Daily Pivot Point R2 | 0.7059 |
| Daily Pivot Point R3 | 0.7108 |
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