EUR/USD 1.04603
-0.389%
Gold 2934.64
-0.152%
Oil 70.150
-3.276%
USD/JPY 149.130
-0.358%
GBP/USD 1.26302
-0.299%
GBP/JPY 188.355
-0.626%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukraine said Russia launched 267 drones at Ukraine overnight, 138 of which were shot down.On February 23, Intel (INTC.O) updated the introduction of its semiconductor foundry related pages yesterday and announced that its Intel 18A process is ready and plans to start tape-out in the first half of this year. The maturity of the 18A process marks a major breakthrough in Intels IDM 2.0 strategy and is also seen as a key signal for Intel Foundry Services (IFS) to regain its former glory.On February 23, the Xiaopeng Huitian "Land Aircraft Carrier" land vehicle has completed winter testing in Yakeshi and is currently in the acceptance stage. It is reported that the land vehicle is driven by six motors and the whole vehicle is manufactured by Xiaopeng Motors. According to previous plans, the Xiaopeng Huitian "Land Aircraft Carrier" aircraft factory will be completed in the third quarter of this year, and the complete flying car will be mass-produced and delivered in 2026.On February 23, local time on February 22, the BMW Group issued a statement saying that due to the uncertainty facing the industry, the company is re-evaluating the timetable for producing all-electric Mini models in the UK. It is understood that the Mini brand electric vehicle production line was originally scheduled to be put into production at the Oxford plant in the UK in 2026, and it is committed to achieving full electrification transformation by 2030.According to Ukrainian Pravda: Russia lost 1,180 soldiers in the past 24 hours.

AUD/USD However, 0.6700 is the key to the upside

Daniel Rogers

Apr 11, 2023 14:41

AUD:USD.png 

 

In the early hours of Tuesday morning in Asia, the AUD/USD receives bids near 0.6650 to recover recent losses. In doing so, the Aussie pair recovers from the lowest levels in two weeks while reversing course from the horizontal support that has been in place for 12 days around 0.6620.

 

Nonetheless, imminent bearish MACD signals and a stable RSI indicate that the AUD/USD pair will continue to decline.

 

The convergence of the 10-day moving average and the support-turned-resistance line from March 10, close to the round number 0.6700, may also threaten the most recent price recovery.

 

Even if the AUD/USD bulls are able to surpass 0.6700, the 50% Fibonacci retracement level of the pair's February-March decline, located around 0.6805, will serve as the final line of defense for the bears.

 

Alternately, a break below 0.6620 could initiate a new decline aiming for the Year-to-Date (YTD) low established in February around 0.6565.

 

Notably, the AUD/USD pair's decline beyond 0.6565 confronts multiple obstacles to the south, including the highs for October 2022 near 0.6545 and 0.6520.

 

After that, a decline to the November 2022 low of approximately 0.6275 cannot be ruled out.

 

Regardless of the recent corrective rally, the AUD/USD remains on the radar of skeptics.


Suggestion