OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD Price Analysis: Aussie recovering from lows, trading near 0.6750 level

  • AUD/USD is trying to recover after falling near two-month lows. 
  • A sideways consolidation is likely on the cards.  
 

AUD/USD daily chart

 
After falling sharply in January the market is attempting to bounce from near the 0.6700 figure. The market is currently failing to hold price above the 0.6751 resistance suggesting that the spot might have another retest of the lows near 0.6725, 0.6677 and 0.6647 price levels, according to the Technical Confluences Indicator.
  

Additional key levels 

 

United States EIA Crude Oil Stocks Change came in at 3.355M, above forecasts (3M) in January 31

United States EIA Crude Oil Stocks Change came in at 3.355M, above forecasts (3M) in January 31
Read more Previous

US crude oil stocks rose 3.4 million barrels, WTI up more than 4% near $51.70

Commercial crude oil stocks in the US rose 3.4 million barrels in the week ending January 31st, the US Energy Information Administration (EIA) reporte
Read more Next
Start livechat