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AUD/USD Price Analysis: Aussie off 2020 lows, trades above 0.6700 figure

  • AUD/USD is bouncing and stabilizing from its lowest point since March 2009.  
  • AUD/USD is looking for a clear direction as the market is divided between a reversal up and printing new 2020 lows.
 

AUD/USD daily chart

 
The aussie is reversing up from one-decade lows while trading well below its main daily simple moving averages (SMAs). Bulls want to create a convincing reversal up and a break above the 0.6753 resistance to push the spot towards the 0.6788 and 0.6800 levels. On the flip side, sellers want to resume the bear spike of the first week of 2020 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 

 

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