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19 Dec 2019
AUD/USD Price Analysis: Aussie trading at session’s highs near 0.6882 resistance
- The bull flag could extend to the 0.6896 and 0.6910 levels.
- Support can be located at the 0.6860 and 0.6835 price levels.
AUD/USD daily chart
AUD/USD is trading below the 0.6900 handle and the 200-day simple moving average (DMA) while the underlying trend remains bearish.
AUD/USD four-hour chart
After the bull flag the market broke to the upside. The buyers are keeping the pressure on the 0.6882 resistance. A break above this level can yield further gains towards the 0.6896 and 0.6910 levels. Support is seen at 0.6860 and 0.6835. A daily close below 0.6835 would likely be seen as bearish with bears targetting 0.6821 and the 0.6800 handle, according to the Technical Confluences Indicator.
Additional key levels