AUD/USD struggled to extend the recent recovery amid weaker risk sentiment. Bulls are likely to wait for a sustained move above YTD descending trend-line. The AUD/USD pair failed to capitalize on its recent recovery move from 11-year lows and witnessed a modest pullback from closer to near two-week tops set on Tuesday. A fresh wave of the global risk-aversion trade weighed on the perceived riskier currency aussie and led to the downtick through the mid-European session on Thursday. The fact that technical indicators on the daily chart are yet to catch up with this week’s positive move, the pair struggled to make it through a year-to-date descending trend-line. The mentioned resistance is closely followed by 38.2% Fibonacci level of the 0.7041-0.6434 downfall, which if cleared, might be seen as a fresh trigger for bullish traders. The pair then might accelerate the positive move towards reclaiming the 0.6700 mark before eventually darting towards 50% Fibo. level, around the 0.6745-50 region. On the flip side, any subsequent slide below the 0.6600 mark is likely to attract some dip-buying and help limit losses near 23.6% Fibo. level, around the 0.6580-75 area. AUD/USD daily chart Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Unit Labor Costs in fourth quarter rose 0.9% vs. 1.4% expected FX Street 3 years AUD/USD struggled to extend the recent recovery amid weaker risk sentiment. Bulls are likely to wait for a sustained move above YTD descending trend-line. The AUD/USD pair failed to capitalize on its recent recovery move from 11-year lows and witnessed a modest pullback from closer to near two-week tops set on Tuesday. A fresh wave of the global risk-aversion trade weighed on the perceived riskier currency aussie and led to the downtick through the mid-European session on Thursday. The fact that technical indicators on the daily chart are yet to catch up with this week's positive move, the pair struggled… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
