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AUD/USD wants to rise from knees but chances are few

FXStreet (Moscow) - AUD/USD opened at 0.9275 on Monday and clumped along to 0.9282 so far; the important pivot of 0.93 is out of reach, while the overall Aussie sentiments are bearish.

Aussie bears are satisfied

Aussie lived through another depressing week as poor economic data from Australia coupled with USD strength across the board resulted in strong selling pressure on AUD/USD that pushed the pair below the pivotal support of 0.9300/90, though it managed to recover from wweekily lows of 0.9239 and finish wweek at 0.9270. The daily charts look unimpressive. The bearish momentim may gain strength as long as the pair trades below 0.9300 with the first target at 0.9239 (previous week low). once it is cleared, the downside may accelerate towards 0.92 handle, where fresh buyin interest might trigger upside correction. Frrom the fundamental point of view, Moday is dull. No news from Australia. no newss from USA, thus have only geopolitics and technicals as possible intraday market drivers.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.9268, with support below at 0.9246, 0.9217 and 0.9195, with resistance above at 0.9297, 0.9313 and 0.9348. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9312 and the daily 20EMA bearish at 0.9346. Hourly RSI is bullish at 59.

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