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AUD/USD Price Analysis: Recovers a part of early lost ground, still in the red below mid-0.6700s

AUD/USD Price Analysis: Recovers a part of early lost ground, still in the red below mid-0.6700s

  • AUD/USD stalls the recent recovery move amid fresh coronavirus concerns.
  • The intraday pullback finds some support near 0.6700 mark, 100-hour SMA.

The AUD/USD pair failed to capitalize on its recent recovery move from over a decade low and started retreating from a resistance marked by over one-week-old descending trend-line.

The pair edged lower during the Asian session on Thursday amid fresh concerns over the outbreak of the deadly coronavirus, albeit managed to find some support ahead of the 0.6700 mark.

The mentioned region coincides with 100-hour SMA, which should now act as a key pivotal point for intraday traders ahead of the release of the latest US consumer inflation figures.

Meanwhile, technical indicators on hourly charts have again started moving into the positive territory and support prospects for an extension of the intraday bounce of around 25-30 pips.

 

However, oscillators on the daily chart – though have been recovering from – are still holding in the bearish territory and warrant some caution before placing any aggressive bullish bets.

Hence, it will be prudent to wait for some strong follow-through buying, possibly beyond the mentioned trend-line resistance near mid-0.6700s, to confirm any further appreciating move.

AUD/USD 1-hourly chart

fxsoriginal

AUD/USD

OVERVIEW
Today last price 0.6728
Today Daily Change -0.0009
Today Daily Change % -0.13
Today daily open 0.6737
 
TRENDS
Daily SMA20 0.677
Daily SMA50 0.6851
Daily SMA100 0.683
Daily SMA200 0.6859
 
LEVELS
Previous Daily High 0.6751
Previous Daily Low 0.6711
Previous Weekly High 0.6775
Previous Weekly Low 0.6662
Previous Monthly High 0.704
Previous Monthly Low 0.6682
Daily Fibonacci 38.2% 0.6736
Daily Fibonacci 61.8% 0.6726
Daily Pivot Point S1 0.6715
Daily Pivot Point S2 0.6693
Daily Pivot Point S3 0.6675
Daily Pivot Point R1 0.6755
Daily Pivot Point R2 0.6773
Daily Pivot Point R3 0.6795

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