28 Nov 2019
AUD/USD Technical Analysis: Aussie prints fresh five-week lows, nearing 0.6760 level
- The aussie is trapped in a Thanksgiving range as the bank holiday in the US keeps the market quiet.
- The level to beat for bears is the 0.6760 swing low.
AUD/USD daily chart
The aussie is trading in a downtrend below the main daily simple moving averages (DMAs). The spot is under pressure, hitting new November lows.
AUD/USD four-hour chart
The aussie is grinding lower at a very slow pace while the market is trending down below the main SMAs. The level to beat for bears is the 0.6760 level. If breached, AUD/USD could extend the decline towards the 0.6740 and 0.6714 levels, according to the Technical Confluences Indicator.
AUD/USD 30-minute chart
AUD/USD is under pressure below the 0.6773 resistance and the main SMAs, suggesting a bearish momentum in the short term. Resistance is expected at 0.6773 and 0.6795 price levels, according to the Technical Confluences Indicator.
Additional key levels