AUD/USD has fallen another 0.37% on Thursday. There could be some relief on its way with some strong support. AUD/USD daily chart The Australian dollar has been the worst hit during the recent bout of dollar strength. The market is heading to a pretty formidably zone at the 0.70 area. Adding to the strength of the psychological area is the 23.6% Fibonacci retracement and black support like which was a strong resistance back on 31/12/2020. If this level fails there is another level to watch at the red horizontal line near 0.6836. This zone was important in early June as it acted as the main consolidation low before the really continued in mid-July. The indicators are understandably in a very bearish position. The MACD histogram is red and the signal lines are just about to cross over to the downside. The Relative Strength Index is showing a bullish sign even though it is in a bearish position. This is called a bullish failure swing, it is when the market is making higher lows but the indicator makes a lower low (often moves into oversold). There could be a small move back up in the near term but longer term this does seem like a decent reversal to the downside. Additional levels 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 WTI holding the $40’s, but a fade on rallies is the technical playbook FX Street 2 years AUD/USD has fallen another 0.37% on Thursday. There could be some relief on its way with some strong support. AUD/USD daily chart The Australian dollar has been the worst hit during the recent bout of dollar strength. The market is heading to a pretty formidably zone at the 0.70 area. Adding to the strength of the psychological area is the 23.6% Fibonacci retracement and black support like which was a strong resistance back on 31/12/2020. If this level fails there is another level to watch at the red horizontal line near 0.6836. This zone was important in early June as… 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.