AUD: is the bottom touched already?

AUD: is the bottom touched already?

In July 2019, AUD/USD formed two peaks. The higher one is 0.7080, which is the major resistance level, being also a 9-months high. The lower one is 0.7030 – the price climbed right to it on December 31, but then reverted downwards. Since then, every day AUD/USD moved further and further down, mostly due to increasingly dovish expectations from the RBA’s interest rate decision in February. On the daily chart, it has crossed the 200-day Moving Average and is testing the 50-day MA at the level of 0.6877. If the price drops to the nearest support of 0.6850 and then crosses the 100-day MA, it will come to test the lower border of the 4-months upward trend and challenge it as such. That is a possibility, taking into account the Awesome Oscillator – the peak is already formed, giving a high likelihood of a decline in the following steps.

Nevertheless, analysts also foresee a possible reversal upwards in the short-term for the AUD. Will that be the case? Read the news with FBS and stay updated.

AUDUSDDaily.png

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

NFP, Oil, and US Stocks Highlight This Week
NFP, Oil, and US Stocks Highlight This Week

Welcome to the first week of October!  As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events. 

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera