AUD/USD Technical Analysis: Bearish traders await a convincing break through 0.7050 support
• The pair continues finding some support near the 0.7050 region, albeit has struggled to register any meaningful recovery from 32-month lows touched earlier this month.
• The fact that the pair remains well below important moving averages (50, 100 & 200-period SMA) on hourly/daily charts, support prospects for an extension of the well-established bearish trajectory.
• Bearish technical indicators on hourly/daily charts further add credence to the negative outlook, though traders seemed to wait for a convincing break through the mentioned support.
AUD/USD daily chart
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AUD/USD
Overview:
Last Price: 0.7072
Daily change: 12 pips
Daily change: 0.170%
Daily Open: 0.706
Trends:
Daily SMA20: 0.7119
Daily SMA50: 0.7194
Daily SMA100: 0.7302
Daily SMA200: 0.7522
Levels:
Daily High: 0.7108
Daily Low: 0.7059
Weekly High: 0.7161
Weekly Low: 0.7089
Monthly High: 0.7316
Monthly Low: 0.7085
Daily Fibonacci 38.2%: 0.7078
Daily Fibonacci 61.8%: 0.7089
Daily Pivot Point S1: 0.7043
Daily Pivot Point S2: 0.7026
Daily Pivot Point S3: 0.6994
Daily Pivot Point R1: 0.7092
Daily Pivot Point R2: 0.7125
Daily Pivot Point R3: 0.7142