OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD recovery stalls out at 0.7000, a return to the downside on the cards

  • The Aussie's recovery from Thursday's early sell-off is meeting resistance from the 0.7000 major level.
  • A bearish rollover could see AUD/USD remain on the downside to close out the week's trading.

The AUD/USD pair managed to recover the 0.7000 major handle through Thursday's trading, lifting from the early session's plummet to 0.6770, but the Aussie remains bearish overall, struggling to maintain a grip on 0.7000 as technical indicators continue to lean towards the downside, and Thursday's recovery see hourly stochastics pricing in an overbought rollover.

AUD/USD's initial bounce from the market plunge saw the pair recover to 0.6900 in the sell-off aftermath, and the US Dollar suffered losses following a disappointing ISM Manufacturing report, allowing the Aussie a brief chance to claim further gains through Thursday's US session, and the pair is now cycling into the downside of 0.7000 as Pacific sector traders struggle to find reasons to bid up the AUD on its own.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.6996
    Today Daily change: -6.0 pips
    Today Daily change %: -0.0857%
    Today Daily Open: 0.7002
Trends:
    Previous Daily SMA20: 0.7108
    Previous Daily SMA50: 0.7184
    Previous Daily SMA100: 0.7187
    Previous Daily SMA200: 0.7346
Levels:
    Previous Daily High: 0.702
    Previous Daily Low: 0.6684
    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%: 0.6892
    Previous Daily Fibonacci 61.8%: 0.6812
    Previous Daily Pivot Point S1: 0.6784
    Previous Daily Pivot Point S2: 0.6566
    Previous Daily Pivot Point S3: 0.6448
    Previous Daily Pivot Point R1: 0.712
    Previous Daily Pivot Point R2: 0.7238
    Previous Daily Pivot Point R3: 0.7457

 

NZD/USD: Bears looking for closes below the 23.6% Fibo and 100-D SMA

Thin liquidity amid a Japanese holiday, algo trading, Apple Inc news and various other factors were cited as causing the drop, but markets have quickl
Read more Previous

Japan Nikkei Manufacturing PMI came in at 52.6, above expectations (52.4) in December

Japan Nikkei Manufacturing PMI came in at 52.6, above expectations (52.4) in December
Read more Next
Start livechat