The Australian dollar closed Tuesday below its best levels, which was consistent with the bearish risk sentiment that was generated by the dismal consumer confidence readings from the United States. AUD/USD dropped from its H1 resistance at $0.6950 and moved closer to $0.69 and a familiar H1 primary support ranging from $0.6863 to 0.6892 as the Dollar Index responded to demand for safe-haven assets. This put the currency pair within striking distance of both of these levels. The territory under this point sheds information on H1 Quasimodo support beginning at $0.6842, then H4 support beginning at $0.6833.

The price line has a pivot point above it at 0.69080, with support at 0.68970 and resistance at 0.69190. The EMAs of 200, 100 are moving downward, and the EMA of 10 is moving below the EMA of 100 with a bearish signal. The MACD starts its negative zone, with the signs indicating a down trend. The Stochastic and RSI indicators are moving toward low ranges and the ADX is not indicating a strong trend.
The price is below the Ichimoku Cloud and the Chinkou Span is near the market price. The Tenkan-sen and the Kijun-sen are moving with downtrend.

• There is resistance at 0.69190, followed by resistance at 0.69300 and 0.69410.
• There is support at 0.68970 Below, there is 0.68860 and 0.68750.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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