19 Dec 2019
AUD/USD Price Analysis: Aussie holding above 0.6840 ahead of AU Unemployment Rate
- The bull flag could entice buyers to retest 0.6875 and 0.6890 levels.
- The level to beat for sellers the 0.6839 level.
- The Australian Unemployment Rate for November is to be released at 00:30 GMT on Thursday.
AUD/USD daily chart
The aussie rejected the 0.6900 handle and the 200-day simple moving average (DMA) while the underlying bias remains bearish for the currency pair. The Australian Unemployment Rate for November will be be released at 00:30 GMT on Thursday.
AUD/USD four-hour chart
The market has entered a small range below the 0.6860 resistance and the 50 SMA on the four-hour chart. The spot also created a bull flag. The first step for bulls would be to break above the 0.6860 level, followed by 0.6875 and 0.6890 levels. On the flip side, bears will try to break below the 0.6839 support to bring the spot toward the 0.6825 and 0.6800 handle, according to the Technical Confluences Indicator.
Additional key levels