Bulls failed to capitalize on Friday’s goodish recovery move. Weakness below 0.6800 needed to confirm any further slide. The AUD/USD pair struggled to capitalize on the previous session’s goodish recovery move and remained depressed through the early European session on Monday. Given last week’s sustained weakness below 100-day SMA, coinciding with over one-month-old ascending trend-line, the bias remains tilted in favour of bearish traders. Meanwhile, mixed technical indicators on daily/hourly charts warrant some caution before placing any aggressive directional bets despite renewed trade optimism. Hence, it will be prudent to wait for some follow-through selling below the 0.6800 handle before positioning for any subsequent slide back towards the 0.6770 region. The downward momentum could further get extended towards challenging the 0.6700 round-figure mark with some intermediate support near the 0.6740-30 region. On the flip side, the mentioned confluence support, currently near the 0.6835-40 region, now seems to act as immediate resistance and is closely followed by the 0.6875-80 supply zone. 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 AUD/NZD: Remains undervalued despite last week’s pullback – Westpac FX Street 3 years Bulls failed to capitalize on Friday's goodish recovery move. Weakness below 0.6800 needed to confirm any further slide. The AUD/USD pair struggled to capitalize on the previous session's goodish recovery move and remained depressed through the early European session on Monday. Given last week's sustained weakness below 100-day SMA, coinciding with over one-month-old ascending trend-line, the bias remains tilted in favour of bearish traders. Meanwhile, mixed technical indicators on daily/hourly charts warrant some caution before placing any aggressive directional bets despite renewed trade optimism. Hence, it will be prudent to wait for some follow-through selling below the… 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.
