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AUD/USD cycling near 0.6950 as broad-market recovery gasses out

  • Thursday's early risk-off plunge seems to have recovered, but the Aussie remains off-balance.
  • The Aussie's trip into a ten-year low sees the pair holding below the 0.7000 critical barrier.

AUD/USD is grinding it out just beneath 0.6950 as the market fade of Thursday's early decline runs out of momentum, leaving the Aussie strung out at critical support levels from 2015 and 2016.

The Aussie plummeted to 0.6770 in a forex market freefall, touching into price levels not seen in almost a decade as risk aversion sent investors piling into safe havens, but thin market volumes following the Christmas and New Year's holidays is exacerbating major market moves, and the AUD/USD pairing has managed to recover the majority of losses, though the AUD remains below the key 0.7000 handle, and continues to faces challenges near two-year lows.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.6939
    Today Daily change: -60 pips
    Today Daily change %: -0.857%
    Today Daily Open: 0.6999
Trends:
    Previous Daily SMA20: 0.712
    Previous Daily SMA50: 0.7185
    Previous Daily SMA100: 0.7189
    Previous Daily SMA200: 0.735
Levels:
    Previous Daily High: 0.7058
    Previous Daily Low: 0.6982
    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%: 0.7011
    Previous Daily Fibonacci 61.8%: 0.7029
    Previous Daily Pivot Point S1: 0.6968
    Previous Daily Pivot Point S2: 0.6937
    Previous Daily Pivot Point S3: 0.6892
    Previous Daily Pivot Point R1: 0.7044
    Previous Daily Pivot Point R2: 0.7089
    Previous Daily Pivot Point R3: 0.712

 

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