EUR/USD 1.02875
-0.015%
Gold 2696.18
-0.007%
Oil 78.794
-0.403%
USD/JPY 155.612
-0.550%
GBP/USD 1.22225
-0.123%
GBP/JPY 190.199
-0.626%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
South Koreas central bank governor Lee Chang-yong said: The main reason for the sharp decline in the won against the US dollar was the strengthening of the US dollar, but the currency hedging operations of pension funds helped mitigate the losses.January 16th, in the last days of the Biden administration, bipartisan U.S. senators on Wednesday called on U.S. Trade Representative Kiki Tai to stop "secret negotiations" with Mexico, Canada and Colombia, which they said would weaken investor protections in some U.S. free trade agreements. A source familiar with the trade negotiations refuted the senators description of "secret negotiations," insisting that the U.S. Trade Representatives Office had consulted with members of Congress, even though there was no legal requirement to do so.Market news: Qatar raised the price of al-Shaheen crude oil for March to a more than two-year high.Market news: The Biden administration is expected to finalize billions of dollars in financial support for electric vehicle company Rivian and power equipment company Plug Power before the Trump administration takes over next week.On January 16, CCB International published a report, raising the target price of BeiGene (06160.HK) by 3.5% from HK$173 to HK$179, and maintaining its "outperform" rating. The bank pointed out that the groups fundamentals improved in 2025, driving up its valuation, considering that the groups PD-1 biological drugs approved in the United States will have a positive impact on future sales.

AUD/USD Price Analysis: Price breaks six-week-old resistance below 0.6700 as bulls lose momentum

Daniel Rogers

Mar 15, 2023 11:50

AUD/USD accepts bids up to 0.6680 on Thursday morning as the currency pair falls toward retesting its intraday low of 0.6671. In doing so, the Aussie pair posts its first daily loss in three days as bulls flirt with a resistance line with a downward trajectory from early February.

 

In addition to the six-week-old descending resistance line, AUD/USD buyers are challenged by a lethargic RSI (14) and ambiguous MACD signals unless the price remains below the 0.6700 trend line resistance.

 

Even if the Aussie pair transcends the 0.6700 round number, a convergence of the 100-DMA and the 200-DMA around 0.6770-75 appears challenging for the bulls to surmount.

 

If the AUD/USD exchange rate remains above 0.6775, the December 2022 high near 0.6895 and the 0.6900 round number may serve as the bulls' final line of defense.

 

In contrast, a pullback has yet to materialize beyond the 50% Fibonacci retracement level of the risk-barometer pair's upside from October 2022 to February 2023, which was near 0.6655 at the time of publication.

 

Afterwards, the most recent swing low and the 61.8% Fibonacci retracement level, also known as the golden Fibonacci ratio, around 0.6565 and 0.6550, respectively, could challenge the AUD/USD bears prior to granting them control.

 

As China data approaches, the AUD/USD pair is likely to experience a retracement, but downside potential appears limited.


Suggestion