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AUD/USD Technical Analysis: AUD remains in the hunt for 0.70

  • The AUD/USD pair charted a bearish lower-high at 0.72 yesterday, validating the bear flag breakdown, witnessed on Dec. 13.
  • The pair, therefore, looks set to test the psychological support of 0.70 (pole height subtracted from breakdown price).
  • The drop to 0.70, however, may not happen immediately, as the RSI on the 4-hour chart is reporting oversold conditions. Moreover, a minor bounce cannot be ruled out, but the outlook would remain bearish as long as the pair is trading below the downward sloping 10-day MA, currently at 0.7178.

4-hour chart

Trend: bearish

AUD/USD

Overview:
    Today Last Price: 0.7104
    Today Daily change: -2.0 pips
    Today Daily change %: -0.0281%
    Today Daily Open: 0.7106
Trends:
    Previous Daily SMA20: 0.7238
    Previous Daily SMA50: 0.7197
    Previous Daily SMA100: 0.7219
    Previous Daily SMA200: 0.7385
Levels:
    Previous Daily High: 0.7201
    Previous Daily Low: 0.7087
    Previous Weekly High: 0.7247
    Previous Weekly Low: 0.7151
    Previous Monthly High: 0.7345
    Previous Monthly Low: 0.7072
    Previous Daily Fibonacci 38.2%: 0.7131
    Previous Daily Fibonacci 61.8%: 0.7157
    Previous Daily Pivot Point S1: 0.7062
    Previous Daily Pivot Point S2: 0.7017
    Previous Daily Pivot Point S3: 0.6948
    Previous Daily Pivot Point R1: 0.7176
    Previous Daily Pivot Point R2: 0.7245
    Previous Daily Pivot Point R3: 0.729

 

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