MENU Show navigation FXStreet Trading Studio AUD/USD Price Analysis: Bears stay on the attack despite pullback NEWS | 12/2/2021 7:01:06 PM GMT | By Ross J Burland Share on Twitter Share on Facebook Share on Linkedin AUD/USD is dangerously close to breaking to the downside again. The daily chart points to a test of the recent lows down at 0.7062 and 0.7030 thereafter. As per the prior analysis, AUD/USD Price Analysis: High forex vol points to continuation to weekly support, the price is moving in on the weekly lows: In the daily chart above, the weekly lows are illustrated with 0.6990 eyed as a potential target on a break of 0.7030. With that below said, the weekly chart's M-formation is a bullish reversion pattern that should be noted as well. AUD/USD H1 chart Meanwhile, the pull back on the hourly chart has not made it to a 38.25 Fibonacci retracement level and instead stalled at 0.7120, staying blow the 21-EMA: Bears will want to see a break of the 0.7080 support before fully engaging, or otherwise face the risk of a trapped market between support and resistance. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Feed news LATEST FOREX NEWS EDITORS’ PICKS EUR/USD slides sub-1.1300 as the dollar accelerates advance EUR/USD finally broke below 1.1300, helped by encouraging US employment-related figures ahead of the November jobs report. ECB officials still holding back on tapering. EUR/USD News GBP/USD clings to modest recovery gains above 1.3300 GBP/USD is edging higher toward 1.3330 in the second half of the day on Thursday as the greenback stays under modest selling pressure. The US Department of Labor reported that there were 222,000 initial claims for unemployment benefits last week. GBP/USD News Gold: Pressure persists November low at risk of giving up Gold fell to a 1-month low of $1,763.33 a troy ounce, bouncing just modestly from it and currently trading around 1,767.00. The bright metal weakened the most during US trading hours, as the American dollar met some market’s favour. Gold News ETH outperforming its peers, BTC struggles and XRP bearish BTC refrains from making new highs as Tuesday’s gap-fill kills uptrend continuation. ETH outpaces its peers by barely hitting new highs. XRP price again looking for direction as investors interest wanes. Read more Cyber Monday 2021 Discounts! Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? Subscribe now! FOREX MAJORS CRYPTOCURRENCIES SIGNATURES ©2021 "FXStreet" All Rights Reserved Disclaimer