#AUDUSD @ 0.64998 Price Analysis: Bears keep the reins near 0.6500 ahead of Aussie Retail Sales, @nehcap view: Further downside expected (Pivot Orderbook analysis)
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The pair currently trades last at 0.64998.
The previous day high was 0.6615 while the previous day low was 0.653. The daily 38.2% Fib levels comes at 0.6562, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6583, expected to provide resistance.
AUD/USD renews the lowest level in six months as it takes offers to 0.6500 during early Friday in Asia. In doing so, the Aussie pair bears the burden of the broad US Dollar strength, as well as downbeat hopes about the Australian Retail Sales data for April, likely to ease to 0.2% MoM versus 0.4% prior.
Technically, a daily closing below the 0.6550 support confluence, now resistance, joins the bearish MACD signals to keep the AUD/USD sellers hopeful. That said, a downward-sloping trend line from late November 2022 and a 61.8% Fibonacci retracement level of the AUD/USD pair’s run-up from October 2022 to February 2023 constitute the 0.6550 key upside hurdle.
Even if the Aussie pair manage to cross the 0.6550 resistance confluence, a fortnight-old falling resistance line, close to 0.6615 by the press time, can prod the buyers before giving them control.
Above all, AUD/USD remains on the bear’s radar until it provides a daily close beyond the 100-DMA level of 0.6775.
Meanwhile, the 78.6% Fibonacci retracement level of around 0.6385 appears the key support for the AUD/USD bears to watch amid the oversold RSI (14). Also acting as a downside filter is the 0.6400 round figure.
Trend: Further downside expected
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6498 at the time of writing. Pair opened at 0.6544 and is trading with a change of -0.70% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6498 |
| 1 | Today Daily Change | -0.0046 |
| 2 | Today Daily Change % | -0.70% |
| 3 | Today daily open | 0.6544 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6671, 50 SMA 0.6684, 100 SMA @ 0.678 and 200 SMA @ 0.6708.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6671 |
| 1 | Daily SMA50 | 0.6684 |
| 2 | Daily SMA100 | 0.6780 |
| 3 | Daily SMA200 | 0.6708 |
The previous day high was 0.6615 while the previous day low was 0.653. The daily 38.2% Fib levels comes at 0.6562, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6583, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.6511, 0.6477, 0.6425
- Pivot resistance is noted at 0.6596, 0.6649, 0.6682
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6615 |
| Previous Daily Low | 0.6530 |
| Previous Weekly High | 0.6710 |
| Previous Weekly Low | 0.6605 |
| Previous Monthly High | 0.6806 |
| Previous Monthly Low | 0.6574 |
| Daily Fibonacci 38.2% | 0.6562 |
| Daily Fibonacci 61.8% | 0.6583 |
| Daily Pivot Point S1 | 0.6511 |
| Daily Pivot Point S2 | 0.6477 |
| Daily Pivot Point S3 | 0.6425 |
| Daily Pivot Point R1 | 0.6596 |
| Daily Pivot Point R2 | 0.6649 |
| Daily Pivot Point R3 | 0.6682 |
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