The pair traded within a range below the recent high, then lost momentum and moved lower from the 0.7180 area. AUD/USD is now testing the lower part of the latest consolidation, and the daily outlook turns more defensive while the price remains below the Pivot.
Current price: 0.71545
Pivot: 0.7165
Nearest support levels:
S1: 0.7142
S2: 0.7125
S3: 0.7105
Nearest resistance levels:
R1: 0.7178
R2: 0.7195
R3: 0.7210
Note:
Above Pivot: a recovery above 0.7165 may ease bearish pressure and allow the pair to retest 0.7178. If buyers break this resistance, AUD/USD may continue toward 0.7195 and 0.7210.
Below Pivot: while the pair remains below 0.7165, sellers may keep the advantage. A break below 0.7142 may extend the decline toward 0.7125 and 0.7105 during the day.
