“¢ After struggling to capitalize on the previous session’s post-RBA upsurge, the pair was seen consolidating through the early part of Wednesday’s trading session below 200-hour SMA. “¢ The pair finally broke down of its daily consolidative range and momentarily dipped below the key 0.70 psychological mark during the mid-European session, albeit recovered few pips thereafter. Despite repeated pullbacks from higher levels, the pair has been showing some resilience below the mentioned handle – coinciding with 50% Fibonacci retracement level of the 0.6947-0.7048 up-move, which should now act as a key pivotal point for the pair’s next leg of a directional move. Meanwhile, technical indicators on the daily chart maintained their bearish bias and have again started gaining negative traction on hourly charts. The set-up points to the resumption of the well-established bearish trend, though traders await a convincing break below the said support A convincing breakthrough now seems to set the stage for a retest of weekly/multi-month swing lows support – tested earlier this week, near the 0.6965-60 region before the pair eventually slides to 0.6930 intermediate support en-route the 0.6900 round figure mark. 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 Fed’s Brainard: Fed should consider targeting longer-term interest rate levels in a future downturn FX Street 3 years "¢ After struggling to capitalize on the previous session's post-RBA upsurge, the pair was seen consolidating through the early part of Wednesday's trading session below 200-hour SMA. "¢ The pair finally broke down of its daily consolidative range and momentarily dipped below the key 0.70 psychological mark during the mid-European session, albeit recovered few pips thereafter. Despite repeated pullbacks from higher levels, the pair has been showing some resilience below the mentioned handle - coinciding with 50% Fibonacci retracement level of the 0.6947-0.7048 up-move, which should now act as a key pivotal point for the pair's… 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.
