AUD/USD Price Analysis: More losses likely while below 0.7450

AUD/USD bearish bias intact, some consolidation considering extreme oversold readings.
Next strong support at the 0.7370/80 band.

Matías Salord FXStreet

The AUD/USD is falling for the third day in a row and is about to post the lowest daily close since December of last year. The consolidation under 0.7450 would leave the door open to more losses. Some technical indicators show oversold reading suggesting some consolidation ahead before a bearish continuation.

A recovery above 0.7450 should alleviate the short-term pressure. Above resistance levels are seen at 0.7490 and 0.7510.

On a wider perspective, the negative bias in AUD/USD will prevail while under a downtrend lie, currently at 0.7675. Another level to consider for the bias is the 200-day simple moving average at 0.7570.

AUD/USD 4-hour chart

AUD/USD

Overview
Today last price	0.7439
Today Daily Change	-0.0047
Today Daily Change %	-0.63
Today daily open	0.7486

Trends
Daily SMA20	0.7571
Daily SMA50	0.768
Daily SMA100	0.7702
Daily SMA200	0.7577

Levels
Previous Daily High	0.7535
Previous Daily Low	0.7462
Previous Weekly High	0.7603
Previous Weekly Low	0.7445
Previous Monthly High	0.7794
Previous Monthly Low	0.7477
Daily Fibonacci 38.2%	0.749
Daily Fibonacci 61.8%	0.7507
Daily Pivot Point S1	0.7454
Daily Pivot Point S2	0.7422
Daily Pivot Point S3	0.7382
Daily Pivot Point R1	0.7527
Daily Pivot Point R2	0.7567
Daily Pivot Point R3	0.7599

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD flat lines around 1.1900; looks to US NFP report for fresh directional impetus

The EUR/USD pair is seen oscillating in a narrow trading band around the 1.1900 mark during the Asian session on Wednesday as traders opt to wait for the release of US monthly employment details before placing fresh directional bets.

GBP/USD recovers losses despite rising UK political risks, BoE rate cut bets

Pound Sterling advances against the US Dollar after registering modest losses in the previous session, trading around 1.3650 during the Asian hours on Wednesday. The pair could extend losses as the Pound Sterling faces pressure from rising political risks in the UK and growing expectations of near-term Bank of England rate cuts.

Gold awaits US Nonfarm Payrolls data for a sustained upside

Gold remains capped below $5,100 early Wednesday, gathering pace for the US labor data. The US Dollar licks its wounds amid persistent Japanese Yen strength and potential downside risks to the US jobs report. Gold holds above $5,000 amid bullish daily RSI, with eyes on 61.8% Fibo resistance at $5,141.

Bitcoin, Ethereum and Ripple show no sign of recovery

Bitcoin, Ethereum, and Ripple show signs of cautious stabilization on Wednesday after failing to close above their key resistance levels earlier this week. BTC trades below $69,000, while ETH and XRP also encountered rejection near major resistance levels. With no immediate bullish catalyst, the top three cryptocurrencies continue to show no clear signs of a sustained recovery.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.