AUD/USD technical analysis: Stages a modest bounce from descending trend-channel support
5/14/2019 7:29:56 AM
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• The pair stalled its recent bearish trajectory and managed to find some support near the lower end of a short-term descending trend-channel formati

   •  The pair stalled its recent bearish trajectory and managed to find some support near the lower end of a short-term descending trend-channel formation on hourly charts. 

   •  The pair stalled its recent bearish trajectory and managed to find some support near the lower end of a short-term descending trend-channel formation on hourly charts. 

   •  The mentioned trend-channel, extending from last week's post-RBA swing high, points to a well-established bearish trend amid escalating US-China trade tensions.

   •  The mentioned trend-channel, extending from last week's post-RBA swing high, points to a well-established bearish trend amid escalating US-China trade tensions.

However, technical indicators on hourly/daily charts were on the verge of slipping into the oversold territory and seemed to be the only factor holding investors from placing any fresh bearish bets rather prompting some short-covering move.

indicators

Given the formation of a bearish trend-channel and the fact that the pair remains well below its important daily/intraday moving averages – 50, 100 & 200-period SMAs, suggests that the near-term selling bias might still be far from over.

Hence, any attempted recovery towards the 0.6975-80 region might still be seen as an opportunity to initiate some fresh bearish positions and seems more likely to remain capped below the key 0.70 psychological mark, at least for the time being.

AUD/USD 1-hourly chart

AUD/USD 1-hourly chart

AUD/USD

Overview
Today last price 0.6953
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6945
 
Trends
Daily SMA20 0.7051
Daily SMA50 0.708
Daily SMA100 0.7107
Daily SMA200 0.7158
Levels
Previous Daily High 0.7003
Previous Daily Low 0.694
Previous Weekly High 0.7048
Previous Weekly Low 0.6947
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6964
Daily Fibonacci 61.8% 0.6979
Daily Pivot Point S1 0.6922
Daily Pivot Point S2 0.6899
Daily Pivot Point S3 0.6859
Daily Pivot Point R1 0.6985
Daily Pivot Point R2 0.7026
Daily Pivot Point R3 0.7048

 

AUD/USD

Overview
Today last price 0.6953
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6945
 
Trends
Daily SMA20 0.7051
Daily SMA50 0.708
Daily SMA100 0.7107
Daily SMA200 0.7158
Levels
Previous Daily High 0.7003
Previous Daily Low 0.694
Previous Weekly High 0.7048
Previous Weekly Low 0.6947
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6964
Daily Fibonacci 61.8% 0.6979
Daily Pivot Point S1 0.6922
Daily Pivot Point S2 0.6899
Daily Pivot Point S3 0.6859
Daily Pivot Point R1 0.6985
Daily Pivot Point R2 0.7026
Daily Pivot Point R3 0.7048

AUD/USD

Overview
Today last price 0.6953
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6945
 
Trends
Daily SMA20 0.7051
Daily SMA50 0.708
Daily SMA100 0.7107
Daily SMA200 0.7158
Levels
Previous Daily High 0.7003
Previous Daily Low 0.694
Previous Weekly High 0.7048
Previous Weekly Low 0.6947
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6964
Daily Fibonacci 61.8% 0.6979
Daily Pivot Point S1 0.6922
Daily Pivot Point S2 0.6899
Daily Pivot Point S3 0.6859
Daily Pivot Point R1 0.6985
Daily Pivot Point R2 0.7026
Daily Pivot Point R3 0.7048

AUD/USD

Overview
Today last price 0.6953
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6945
 
Trends
Daily SMA20 0.7051
Daily SMA50 0.708
Daily SMA100 0.7107
Daily SMA200 0.7158
Overview
Today last price 0.6953
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6945
Overview Overview Overview Today last price 0.6953 Today Daily Change 0.0008 Today Daily Change % 0.12 Today daily open 0.6945 Today last price 0.6953 Today last price0.69530.6953 Today Daily Change 0.0008 Today Daily Change0.00080.0008 Today Daily Change % 0.12 Today Daily Change %0.120.12 Today daily open 0.6945 Today daily open0.69450.6945
 
Trends
Daily SMA20 0.7051
Daily SMA50 0.708
Daily SMA100 0.7107
Daily SMA200 0.7158
Trends Trends Trends Daily SMA20 0.7051 Daily SMA50 0.708 Daily SMA100 0.7107 Daily SMA200 0.7158 Daily SMA20 0.7051 Daily SMA200.70510.7051 Daily SMA50 0.708 Daily SMA500.7080.708 Daily SMA100 0.7107 Daily SMA1000.71070.7107 Daily SMA200 0.7158 Daily SMA2000.71580.7158
Levels
Previous Daily High 0.7003
Previous Daily Low 0.694
Previous Weekly High 0.7048
Previous Weekly Low 0.6947
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6964
Daily Fibonacci 61.8% 0.6979
Daily Pivot Point S1 0.6922
Daily Pivot Point S2 0.6899
Daily Pivot Point S3 0.6859
Daily Pivot Point R1 0.6985
Daily Pivot Point R2 0.7026
Daily Pivot Point R3 0.7048
Levels
Previous Daily High 0.7003
Previous Daily Low 0.694
Previous Weekly High 0.7048
Previous Weekly Low 0.6947
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6964
Daily Fibonacci 61.8% 0.6979
Daily Pivot Point S1 0.6922
Daily Pivot Point S2 0.6899
Daily Pivot Point S3 0.6859
Daily Pivot Point R1 0.6985
Daily Pivot Point R2 0.7026
Daily Pivot Point R3 0.7048
Levels Levels Levels Previous Daily High 0.7003 Previous Daily Low 0.694 Previous Weekly High 0.7048 Previous Weekly Low 0.6947 Previous Monthly High 0.7206 Previous Monthly Low 0.6988 Daily Fibonacci 38.2% 0.6964 Daily Fibonacci 61.8% 0.6979 Daily Pivot Point S1 0.6922 Daily Pivot Point S2 0.6899 Daily Pivot Point S3 0.6859 Daily Pivot Point R1 0.6985 Daily Pivot Point R2 0.7026 Daily Pivot Point R3 0.7048 Previous Daily High 0.7003 Previous Daily High0.70030.7003 Previous Daily Low 0.694 Previous Daily Low0.6940.694 Previous Weekly High 0.7048 Previous Weekly High0.70480.7048 Previous Weekly Low 0.6947 Previous Weekly Low0.69470.6947 Previous Monthly High 0.7206 Previous Monthly High0.72060.7206 Previous Monthly Low 0.6988 Previous Monthly Low0.69880.6988 Daily Fibonacci 38.2% 0.6964 Daily Fibonacci 38.2%0.69640.6964 Daily Fibonacci 61.8% 0.6979 Daily Fibonacci 61.8%0.69790.6979 Daily Pivot Point S1 0.6922 Daily Pivot Point S10.69220.6922 Daily Pivot Point S2 0.6899 Daily Pivot Point S20.68990.6899 Daily Pivot Point S3 0.6859 Daily Pivot Point S30.68590.6859 Daily Pivot Point R1 0.6985 Daily Pivot Point R10.69850.6985 Daily Pivot Point R2 0.7026 Daily Pivot Point R20.70260.7026 Daily Pivot Point R3 0.7048 Daily Pivot Point R30.70480.7048