Feb 18, 2020
AUD/USD Price Analysis: Aussie bounces from session lows, approaching 0.6700 figure
- AUD/USD is having a modest bounce after bears attempted to reach the 2020 low.
- AUD/USD is consolidating losses near the 0.6700 figure.
AUD/USD daily chart
The aussie is bouncing from one-decade lows while trading well under its main daily simple moving averages (SMAs). AUD/USD tried to reach the 2020 low but is finding some support as the market is staying in a range near the 2020 lows. Bears want to resume the bear trend by breaking below the 0.6668 support and targetting the 0.6640 and 0.6626 levels. On the flip side, bulls want to create a reversal up and overcome several layers of resistance to reach the 0.6753 level, according to the Technical Confluences Indicator.
Resistance: 0.6700, 0.6723, 0.6753
Support: 0.6668, 0.6640, 0.6626
Additional key levels