AUD/USD falls to its lowest since 2009
- Sharp U-turn in Wall Street following Apple's report sent the dollar up on demand for safety.
- AUD/USD now trying to stabilize above 2016 low of 0.6826.
The collapse of US equities after Apple cut its first-quarter revenue guidance triggered some wild movements across the FX board, exacerbated by thin volumes, with markets slowly returning from holidays and even some markets still closed. The movement was so abrupt that there is no clear consensus on where the pairs bottomed, although one thing is sure: the AUD/USD pair broke below its 2016 low of 0.6826 and traded at levels last seen on March 2009.
Now trading around 0.6860, the pair has been under strong selling pressure these last couple of weeks as soft Chinese data arose ruling concerns about a global economic slowdown. In fact, it's not just about China, as this Wednesday, data showed that European business activity ended 2018 on a sour note.
Major pairs will now struggle to find some sort of equilibrium prices and would likely remain choppy and volatile, yet another leg lower below the mentioned 0.6826 will probably anticipate a continued decline for this Thursday, beyond macroeconomic releases.
Today Last Price: 0.6861
Today Daily change: -1.9e+2 pips
Today Daily change %: -2.76%
Today Daily Open: 0.7056
Previous Daily SMA20: 0.7134
Previous Daily SMA50: 0.7186
Previous Daily SMA100: 0.7192
Previous Daily SMA200: 0.7354
Previous Daily High: 0.7072
Previous Daily Low: 0.6996
Previous Weekly High: 0.7078
Previous Weekly Low: 0.7014
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Previous Daily Fibonacci 38.2%: 0.7043
Previous Daily Fibonacci 61.8%: 0.7025
Previous Daily Pivot Point S1: 0.7011
Previous Daily Pivot Point S2: 0.6965
Previous Daily Pivot Point S3: 0.6935
Previous Daily Pivot Point R1: 0.7087
Previous Daily Pivot Point R2: 0.7117
Previous Daily Pivot Point R3: 0.7163