AUD/USD outlook: Holds in extended consolidation above strong supports
|AUD/USD
AUDUSD remains in extended consolidation around the base of thick daily cloud (0.6538), and above pivotal Fibo support at 0.6528 (61.8% of 0.6362/0.6798), following a steep fall in past nine days.
Bears are taking a breather on stretched daily studies, but remain in play (strong negative momentum, MA’s in full bearish configuration and creating a number of bear crosses) and look for firm break through significant supports at 0.6538/28, which will unmask targets at 0.6500/0.6465 (round-figure/Fibo 76.4%).
Upticks so far remain below upper pivot at 0.6586 (200DMA).
Markets await release of US Consumer confidence and JOLTS data for fresh signals.
Res: 0.6568; 0.6586; 0.6603; 0.6631.
Sup: 0.6528; 0.6500; 0.6465; 0.6407.
Interested in AUD/USD technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.