#AUDUSD @ 0.67594 declined below 0.6800 during the European trading hours on Monday. (Pivot Orderbook analysis)
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- AUD/USD declined below 0.6800 during the European trading hours on Monday.
- US Dollar struggles to find demand heading into American session.
- Business sentiment data from Australia will be looked upon for fresh impetus.
The pair currently trades last at 0.67594.
The previous day high was 0.6814 while the previous day low was 0.6744. The daily 38.2% Fib levels comes at 0.6787, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.677, expected to provide resistance.
AUD/USD lost its traction after having recovered toward 0.6800 earlier in the day. Despite the renewed US Dollar weakness, the pair was last seen losing 0.4% on a daily basis at around 0.6770.
In the absence of high-impact data releases, markets started the new week on a cautious note, allowing the US Dollar to find demand. Although the US Dollar Index started to edge lower amid improving market mood during the European trading hours, AUD/USD failed to stage a decisive rebound.
Investors remain cautious as they try to figure out how the rising number of coronavirus cases on re-opening steps taken by China will impact economic activity. Earlier in the day, Chinese officials announced that they will take the Covid-tracking app offline and the city of Shanghai announced that all areas of the city will be deemed as “not at risk of Covid’ from December 13.
There won’t be any macroeconomic data releases from the US on Monday. In the early trading hours of the Asian session on Tuesday, the National Bank Australia (NBA) will release the Business Confidence and Business Conditions indexes for November.
Ahead of Tuesday’s Consumer Price Index data from the US and the Federal Reserve’s monetary policy announcements on Tuesday, however, AUD/USD could have a hard time making a decisive move in either direction.
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6764 at the time of writing. Pair opened at 0.6795 and is trading with a change of -0.46 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6764 |
| 1 | Today Daily Change | -0.0031 |
| 2 | Today Daily Change % | -0.4600 |
| 3 | Today daily open | 0.6795 |
The pair is trading above its 20 Daily moving average @ 0.6724, above its 50 Daily moving average @ 0.6527 , above its 100 Daily moving average @ 0.668 and below its 200 Daily moving average @ 0.691
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6724 |
| 1 | Daily SMA50 | 0.6527 |
| 2 | Daily SMA100 | 0.6680 |
| 3 | Daily SMA200 | 0.6910 |
The previous day high was 0.6814 while the previous day low was 0.6744. The daily 38.2% Fib levels comes at 0.6787, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.677, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.6754, 0.6714, 0.6684
- Pivot resistance is noted at 0.6824, 0.6854, 0.6894
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6814 |
| Previous Daily Low | 0.6744 |
| Previous Weekly High | 0.6851 |
| Previous Weekly Low | 0.6669 |
| Previous Monthly High | 0.6801 |
| Previous Monthly Low | 0.6272 |
| Daily Fibonacci 38.2% | 0.6787 |
| Daily Fibonacci 61.8% | 0.6770 |
| Daily Pivot Point S1 | 0.6754 |
| Daily Pivot Point S2 | 0.6714 |
| Daily Pivot Point S3 | 0.6684 |
| Daily Pivot Point R1 | 0.6824 |
| Daily Pivot Point R2 | 0.6854 |
| Daily Pivot Point R3 | 0.6894 |
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