AUD/USD Price Analysis: Aussie pressuring five-month highs and the 0.7000 handle

AUD/USD is about to end December on the high tick above the 0.7000 handle.
The next resistances on the way up are seen near 0.7040 and 0.7055 price levels.

Flavio Tosti Independent Analyst

AUD/USD weekly chart

The aussie is about to end 2019 with a end-of-year rally above the 50-period weekly simple moving average (SMA). The spot has been under pressure in the first half of the year but from August onwards the market has started to give signs of a potential bottom. If the bulls maintain the market above the 0.6700 handle, 2020 will be sideways to up.

AUD/USD daily chart

AUD/USD is challenging the 0.7000 handle while trading above the 200-day simple moving average (DMA). In 2020, bulls will likely try to reach the 0.7100, 0.7200 and 0.7300 handle on the way up. On the flip side, a successful break below the 0.6700 figure could be seen as a bearish continuation.

AUD/USD four-hour chart

The market is spiking up while above the main SMAs. As the bulls are pressuring the 0.7000 figure the market is set to climb towards 0.7040, 0.7055 and 0.7072, according to the Technical Confluences Indicator. Support can be found at 0.6985, 0.6967, 0.6952 and 0.6930 price levels.

Additional key levels

AUD/USD

Overview
Today last price	0.7003
Today Daily Change	0.0024
Today Daily Change %	0.34
Today daily open	0.6979

Trends
Daily SMA20	0.6879
Daily SMA50	0.6853
Daily SMA100	0.6816
Daily SMA200	0.6901

Levels
Previous Daily High	0.6987
Previous Daily Low	0.6921
Previous Weekly High	0.6987
Previous Weekly Low	0.6892
Previous Monthly High	0.6929
Previous Monthly Low	0.6754
Daily Fibonacci 38.2%	0.6962
Daily Fibonacci 61.8%	0.6946
Daily Pivot Point S1	0.6938
Daily Pivot Point S2	0.6896
Daily Pivot Point S3	0.6871
Daily Pivot Point R1	0.7004
Daily Pivot Point R2	0.7029
Daily Pivot Point R3	0.707

Author

Flavio Tosti

Independent Analyst

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