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.

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