Feb 4, 2020
AUD/USD Price Analysis: Aussie recovering after sell-off
- The AUD/USD currency pair is attempting to recover after dropping near two-month lows.
- A sideways consolidation can be on the cards.
AUD/USD daily chart
Since early January, the spot has been falling sharply. However, the bulls are trying to create a base near a key support level. If the buyers can break the 0.6751 resistance the market might be creating a successful bullish reversal. Conversely, below the above-mentioned level, the market is more likely to consolidate losses. Support is seen at the 0.6677 and 0.6647 price levels, according to the Technical Confluences Indicator.
Additional key levels