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5 Aug 2019
AUD/USD technical analysis: Aussie challenging 0.6780 resistance post-ISM Non-Manufacturing PMI
- AUD/USD is bouncing from the new 2019 low established this Monday.
- The level to beat for bulls are seen at 0.6780 and the 0.6828 resistances.
The ISM Non-Manufacturing PMI data disappoint and weigh on the dollar as the July reading is at 53.7 vs. 55.5 forecast by analysts.
AUD/USD daily chart
The Aussie is trading in a bear trend below the main daily simple moving averages (DSMAs). The market is correcting up after reaching a new 2019 low at the 0.6747 level this Monday.
AUD/USD 4-hour chart
The Aussie is trading in a steep bear trend below its main SMAs. Sellers want to break below 0.6761 support to reach the 0.6740 level, according to the Technical Confluences Indicator.
AUD/USD 30-minute chart
The market is bouncing from the new 2019 as bulls are challenging 0.6780 resistance. A break above the level resistance can lead to the 0.6828 resistance on the way up.
Additional key levels