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Aussie bounces from one-decade low

  • AUD/USD is reversing up after reaching yet again a fresh 2020 low. 
  • Resistance is seen near the 0.6647 level. 

 

AUD/USD daily chart

 

The aussie is attempting to reverse up from one-decade lows while trading well below its main daily simple moving averages (SMAs). The trend is clearly bearish, however, considering the broad-based USD selling and the reversal attempt, AUD/USD might be in for a corrective move up in the coming sessions. A break above the 0.6647 level can lead to further strength towards 0.6675 and 0.6700 levels. Support is seen near 0.6613, 0.6578 and 0.6558 levels, according to the Technical Confluences Indicator.

 

   

Resistance: 0.6647, 0.6675, 0.6700

Support: 0.6613, 0.6578, 0.6558

 

 

Additional key levels

 

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