Lowe’s hawkish comments helped the AUD/USD to bounce off lows. The bullish spike fails just ahead of the 0.6800 confluence resistance. The AUD/USD pair once again managed to find some support near the 0.6770-65 region and spiked to fresh session tops in reaction to the RBA Governor Philip Lowe’s hawkish comments. The mentioned support, tested earlier this month, coincides with 61.8% Fibonacci level of the 0.6671-0.6930 positive move and should continue to protect the immediate downside. The knee-jerk bullish spike faltered just ahead of the 0.6800 confluence region, comprising of 200-hour SMA and 50% Fibo. level, which should now act as a key trigger for bullish traders. Meanwhile, technical indicators on the 1-hourly chart have again started gaining positive traction but maintained their bearish bias on 4-hourly/daily charts, warranting some caution. Hence, it will be prudent to wait for some strong follow-through buying beyond the mentioned barrier before positioning for any further near-term appreciating move for the major. AUD/USD 1-hourly chart 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 RBA’s Lowe: 0.25% is the effective lower bound for rates FX Street 3 years Lowe's hawkish comments helped the AUD/USD to bounce off lows. The bullish spike fails just ahead of the 0.6800 confluence resistance. The AUD/USD pair once again managed to find some support near the 0.6770-65 region and spiked to fresh session tops in reaction to the RBA Governor Philip Lowe's hawkish comments. The mentioned support, tested earlier this month, coincides with 61.8% Fibonacci level of the 0.6671-0.6930 positive move and should continue to protect the immediate downside. The knee-jerk bullish spike faltered just ahead of the 0.6800 confluence region, comprising of 200-hour SMA and 50% Fibo. level, which should now act… 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.
