• AUD/USD ends week down 0.33%, unable to hold above 0.6600, range-bound.
  • Struggle to sustain gains above 200-DMA (0.6576); potential for upward trend watched closely.
  • Key supports at 0.6551, 0.6524; rebound above 200-DMA may aim for resistances at 0.6620, 0.6652.

The AUD/USD finished Friday’s session on the back foot, down more than 0.15%, for a total of 0.33% losses in the week. At the time of writing, the pair ended at 0.6573, failing to stay above the 0.6600 figure, which exacerbated the Aussie’s drop below the key 200-day moving average (DMA).

The pair extended its sideways trading, with buyers failing to cling to the 200-DMA at 0.6576, though it seems they remain in charge. This following January’s 17 dip toward 0.6524, with the par extending its gains toward the 0.6550/0.6600 range, still unable to decisively crack the 0.6600 mark and opening the door for a pull back.

With that said, key support levels lie below the exchange rate, with the January 23 daily low of 0.6551, ahead of the January 17 swing low of 0.6524. if the pair slides below this key support level, the buyers' last line of defense would be the 0.6500 figure before diving to the November 17, 2023, low of 0.6452.

On the positive side, if buyers reclaim the 200-DMA, they could extend its rally past the 0.6600 figure toward January’s 24 high at 0.6620. The next supply zone emerges at the 50-DMA at 0.6652.

AUD/USD Price Action – Daily Chart

AUD/USD Key Levels

AUD/USD

Overview
Today last price 0.6581
Today Daily Change -0.0003
Today Daily Change % -0.05
Today daily open 0.6584
 
Trends
Daily SMA20 0.6663
Daily SMA50 0.6659
Daily SMA100 0.6526
Daily SMA200 0.6578
 
Levels
Previous Daily High 0.661
Previous Daily Low 0.6566
Previous Weekly High 0.6705
Previous Weekly Low 0.6525
Previous Monthly High 0.6871
Previous Monthly Low 0.6526
Daily Fibonacci 38.2% 0.6593
Daily Fibonacci 61.8% 0.6583
Daily Pivot Point S1 0.6563
Daily Pivot Point S2 0.6543
Daily Pivot Point S3 0.6519
Daily Pivot Point R1 0.6607
Daily Pivot Point R2 0.663
Daily Pivot Point R3 0.6651

 

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD languishes near multi-year lows below 0.6250 after dovish RBA Minutes

AUD/USD languishes near multi-year lows below 0.6250 after dovish RBA Minutes

AUD/USD remains depressed below 0.6250 early Tuesday after the December RBA Minutes reiterated that upside inflation risks had diminished, which reaffirms bets for a rate cut in early 2025. This, along with concerns about China's fragile economic recovery and US-China trade war, undermines the Aussie and weighs on the pair.

AUD/USD News
USD/JPY eases toward 157.00 after Japanese verbal intervention

USD/JPY eases toward 157.00 after Japanese verbal intervention

USD/JPY has come under renewed selling pressure, easing toward 157.00 after Japanese Finance Minister Kato's verbal intervention. The pair erased early gains, induced by the October BoJ meeting Minutes. However, the downside could be limited as the US Dollar hold the previous rebound. 

USD/JPY News
Gold remains stuck between two key barriers amid thin trading

Gold remains stuck between two key barriers amid thin trading

Gold price is attempting another run higher while defending the $2,600 threshold early Tuesday. In doing so, Gold price replicates the recovery moves seen in Monday’s trading, which eventually fizzled out on a broad US Dollar comeback in tandem with US Treasury bond yields.  

Gold News
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.

Read more
Bank of England stays on hold, but a dovish front is building

Bank of England stays on hold, but a dovish front is building

Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures