Bulls failed to capitalize on the early uptick to fresh one-month tops. Technical set-up points to a further near-term appreciating move. The AUD/USD pair continued with its struggle to find acceptance above 50% Fibonacci level of the 0.7082-0.6671 downfall and quickly retreated few pips from fresh one-month tops set earlier this Tuesday. The positive momentum once again faltered near the 0.6880-90 region, coinciding with a previous congestion zone, which should now act as a key pivotal point and help determine the pair’s near-term trajectory. Slightly overbought conditions on hourly charts seemed to be the only factor prompting some profit-taking at higher levels, albeit bullish oscillators on the daily chart support prospects for additional gains. Hence, any pullback below 100-day SMA resistance breakpoint – around the 0.6855 region – is likely to attract some dip-buying interest and help limit the downside near the 0.6830-25 region (38.2% Fibo. level). On the flip side, sustained strength beyond the mentioned barrier has the potential to lift the pair beyond the 0.6900 round figure mark towards testing the next hurdle marked by 61.8% Fibo. level, near the 0.6925 region. AUD/USD daily 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 USD/JPY continues to consolidate – Commerzbank FX Street 3 years Bulls failed to capitalize on the early uptick to fresh one-month tops. Technical set-up points to a further near-term appreciating move. The AUD/USD pair continued with its struggle to find acceptance above 50% Fibonacci level of the 0.7082-0.6671 downfall and quickly retreated few pips from fresh one-month tops set earlier this Tuesday. The positive momentum once again faltered near the 0.6880-90 region, coinciding with a previous congestion zone, which should now act as a key pivotal point and help determine the pair's near-term trajectory. Slightly overbought conditions on hourly charts seemed to be the only factor prompting some… 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.
