Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
AUD/USD Technical Analysis: Support Now Below 0.69 Figure

AUD/USD Technical Analysis: Support Now Below 0.69 Figure

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

The Australian Dollar made another strong push to the downside against its US namesakeafter a brief consolidative period. The pair issued the largest drop in two weeks, slumping to the lowest level in six months.

The next layer of support is now at 0.6880, the 61.8% Fibonacci expansion, with a break below that on a daily closing basis exposing the 76.4% level at 0.6748. Alternatively, a move back above support-turned-resistance at 0.6987, the 50% Fib, opens the door for a test of the 38.2% expansion at 0.7093.

We sold AUDUSD at 0.7214 and have since booked profit on half of the trade as well as moved the stop-loss to the breakeven level. The remainder of the trade will remain in play to capture any further downward momentum ahead.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES