AUD/USD Technical Analysis: Aussie under pressure challenging November lows, sub-0.6800 handle

 

 

The aussie is trading in a downtrend below the main daily simple moving averages (DMAs) on the daily time frame chart. The market is starting the week challenging last week’s lows below the 0.6800 handle.

 

 

The spot is under heavy pressure below the main SMAs as it is battling with the November lows. As the market is challenging the 0.6773 (swing low), a break below it can lead to the 0.6740 level, according to the Technical Confluences Indicator. 

 

 

 

AUD/USD is trading below the main SMAs, suggesting a bearish bias in the short term. Resistances are seen at the 0.6795 and 0.6810 price levels, according to the Technical Confluences Indicator.