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AUD/USD downward pressures mounting up

FXStreet (Guatemala) - AUD/USD is trading at 0.8612, down -0.24% on the day, having posted a daily high at 0.8685 and low at 0.8611.

AUD/USD has well and truly closed the bullish gap as the greenback starts to pick itself up again and takes its position back on the leader board. The pair is testing the downside and the 0.8620 supporting zone currently.

Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart indicators turned sharply lower now around their midlines, as 20 SMA stand flat a few pips below current price at 0.8610. “Latest upward correction stalled well below previous highs above the 0.8700 level, which suggest the downward potential remains intact”.

AUD/USD noteworthy levels

Current price is 0.8612, with resistance ahead at 0.8634 (Hourly 100 SMA), 0.8644 (Hourly 20 EMA), 0.8646 (Weekly Classic PP), 0.8690 and 0.8730. Next support to the downside can be found at 0.8611 (Daily Classic PP), 0.8564 and 0.8520.

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