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AUD/USD technical analysis: Aussie spikes to 6-day high above 0.6900 on USD weakness

2019-06-20 22:50

  • AUD/USD is recovering after seeing intense selling in the last weeks.

  • The level to beat for bulls is at 0.6930 resistance according to the Technical Confluences Indicator.



The US Dollar is weakening across the board on the back of dovish comments from the Fed



AUD/USD daily chart



AUD/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is rebounding sharply above the 0.6900 figure.





AUD/USD 4-hour chart



The Aussie made a sharp recovery as it now challenging the 100 and 200 SMAs near 0.6939 resistance which is a cluster of technical levels according to the Technical Confluences Indicator.





AUD/USD 30-minute chart



AUD/USD is trading above its main SMAs suggesting bullish momentum in the near term. A sustained break above 0.6930 can send the Aussie to 0.6960, the next main resistance according to the Technical Confluences Indicator. Support is at 0.6915 and 0.6900 figure.





Additional key levels





 


This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

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