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AUD/USD Technical Analysis: Bulls hoping for critical bounce from Fibo support at 0.7200

  • Over the past twenty-four hours, the AUD/USD has shed value as broader markets opt for the Greenback instead of the risk-exposed Aussie, and risk-off flows see the pairing challenging the 0.7200 handle heading into Wednesday’s market action.

AUD/USD Chart, 5-Minute

  • The past two weeks shows the AUD/USD reversing key bullish momentum, with the current week accelerating losses as investors pull out of the China-exposed Aussie.

AUD/USD Chart, 30-Minute

  • The Aussie has seen rough cyclical action over the past quarter, and while the AUD/USD is currently hung up on a key confluence of the 38.2 Fibo retracement level at the 0.7200 technical barrier, a bearish break is set to see the pair continue sliding into the 200-period moving average at the familiar 0.7150 zone.

AUD/USD Chart, 4-Hour

AUD/USD

Overview:
       Last Price:  0.722
       Daily change:  0.0  pips
       Daily change:  1.42e-14%
       Daily Open:  0.722
Trends:
       Daily SMA20:  0.7191
       Daily SMA50:  0.7173
       Daily SMA100:  0.7255
       Daily SMA200:  0.7448
Levels:
       Daily High:  0.7302
       Daily Low:  0.7212
       Weekly High:  0.7336
       Weekly Low:  0.7164
       Monthly High:  0.724
       Monthly Low:  0.702
       Daily Fibonacci 38.2%:  0.7246
       Daily Fibonacci 61.8%:  0.7268
       Daily Pivot Point S1:  0.7187
       Daily Pivot Point S2:  0.7154
       Daily Pivot Point S3:  0.7097
       Daily Pivot Point R1:  0.7278
       Daily Pivot Point R2:  0.7335
       Daily Pivot Point R3:  0.7368

 

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