Feb 11, 2020
AUD/USD Price Analysis: Aussie trading off one-decade lows near 0.6700 figure
- AUD/USD is rebounding from its lowest point since March 2009.
- AUD/USD is in search of a clear direction as the spot is stabilizing near the 0.6700 figure.
AUD/USD daily chart
The aussie is attempting to bounce from one-decade lows while trading well below its main daily simple moving averages (SMAs). Bulls want to create a reversal up and a break above the 0.6732 resistance to drive the market towards the 0.6753 and 0.6788 levels. On the other hand, bears want to keep the pressure on and revisit the 0.6700, 0.6684 and 0.6663 price levels, according to the Technical Confluences Indicator.
Resistance: 0.6732, 0.6753, 0.6788
Support: 0.6700, 0.6684, 0.6663
Additional key levels