AUD/USD finds bids below 0.67 for the second time this month. A corrective bounce to the 10-day MA could be seen during the day ahead. AUD/USD is currently trading at 0.6730, having hit a low of 0.6689 earlier today. This is the second time that the pair has quickly recovered from sub-0.67 level. The pair had dropped to a low of 0.6677 on Aug. 7 only to end that day largely unchanged on the day at 0.6756. The long tails attached to Aug. 7’s and today’s candle indicate seller exhaustion, so, rise to the 10-day moving average (MA) of 0.6765 could be seen during the day ahead, especially if the futures on the S&P 500 continue to recover losses. The futures are currently trading at 2,833, having hit a low of 2,811.5 in the early Asian session. The outlook would turn bullish only if and when the spot invalidates the bearish lower highs pattern with a move above the Aug. 8 high of 0.6822. On the downside, a close below 0.67 would bolster the bearish case. Daily chart Trend: Seller exhaustion Pivot points 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 S. Korea’s FinMin Kim: To take steps on forex regardless of currency level FX Street 4 years AUD/USD finds bids below 0.67 for the second time this month. A corrective bounce to the 10-day MA could be seen during the day ahead. AUD/USD is currently trading at 0.6730, having hit a low of 0.6689 earlier today. This is the second time that the pair has quickly recovered from sub-0.67 level. The pair had dropped to a low of 0.6677 on Aug. 7 only to end that day largely unchanged on the day at 0.6756. The long tails attached to Aug. 7's and today's candle indicate seller exhaustion, so, rise to the 10-day moving average (MA) of 0.6765… 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.
