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AUD/USD Technical Analysis: Tucking into fresh weekly lows near 0.7060 as bearish trendline remains

FXstreet.com Tuesday, 23 October 2018
*The last twenty-four hours* have been poor to the AUD/USD, with the Aussie slipping back down after rejecting off of a descending trendline, formed off of last Friday's peak at 0.7150, a major consolidation and resistance zone.


*The past week* has seen the AUD/USD accelerate its bearish stance, declining outside the low end of the pair's declining channel, and the lower boundary could turn into a key resistance level.

*AUD/USD, M30*

The AUD/USD has seen a bearish lean* in the past month *as well, declining into a short side trendline break from 0.7090, and the pair could remain constrained near the last swing low near 0.7050 unless bears gather enough momentum to break the Aussie into a fresh 2018 low.



Overview:   Last Price: 0.7073   Daily change: -8.0 pips   Daily change: -0.113%   Daily Open: 0.7081
Trends:   Daily SMA20: 0.7137   Daily SMA50: 0.72   Daily SMA100: 0.7314   Daily SMA200: 0.7531
Levels:   Daily High: 0.7128   Daily Low: 0.7076   Weekly High: 0.7161   Weekly Low: 0.7089   Monthly High: 0.7316   Monthly Low: 0.7085   Daily Fibonacci 38.2%: 0.7095   Daily Fibonacci 61.8%: 0.7108   Daily Pivot Point S1: 0.7062   Daily Pivot Point S2: 0.7043   Daily Pivot Point S3: 0.701   Daily Pivot Point R1: 0.7114   Daily Pivot Point R2: 0.7147   Daily Pivot Point R3: 0.7166

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