Current trend

The AUD/USD pair significantly fell on Wednesday and reached the level of 0.7000.

The US Dollar is in demand on the market successfully recovering its losses incurred after the Fed decision to keep interest rates unchanged. At the same time, the regulator is still hoping to start with the policy tightening this year.

Support and resistance

Bollinger Bands on the daily chart remains flat, while the price rage is narrowing. MACD continues moving upwards. Stochastic has reached the oversold zone and is attempting to turn up near the zero mark.

The indicators are not giving clear trading signals.

Support levels: 0.6981 (beginning of the month low), 0.6945 (10 September low), 0.6908 (4 September low).

Resistance levels: 0.7018 (local high), 0.7046, 0.7069, 0.7100, 0.7128, 0.7160 (22 September high), 0.7200, 0.7234, 0.7279 (18 September high), 0.7300.

Trading tips

Short positions can be opened from current levels with targets at 0.6900, 0.6850 and stop-loss at 0.6990. Validity – 2-3 days.

Long positions can be opened after the breakout of the level of 0.7000 with the target at 0.7090 and stop-loss at 0.6970. Validity – 2-3 days.

AUD/USD: AUD is falling

AUD/USD: AUD is falling

The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Follow us in social networks!
Live Chat
Leave feedback