Feb 12, 2020
AUD/USD Price Analysis: Aussie bouncing from 2020 lows, trade above 0.6700 figure
- AUD/USD is bouncing from its lowest point since March 2009.
- AUD/USD is looking for a clear direction as the market is stabilizing near the 0.6700 figure.
AUD/USD daily chart
The aussie is bouncing from one-decade lows while trading well below the main daily simple moving averages (SMAs). Buyers want to generate a reversal up and a break above the 0.6753 resistance to drive the market towards the 0.6788 and 0.6800 levels. On the other hand, bears want to resume the bear trend and revisit the 0.6732, 0.6700 and 0.6684 price levels, according to the Technical Confluences Indicator.
Resistance: 0.6753, 0.6788, 0.6800
Support: 0.6732, 0.6700, 0.6684
Additional key levels