{"id":103136,"date":"2020-08-12T08:56:13","date_gmt":"2020-08-12T07:56:13","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=103136"},"modified":"2020-08-12T15:59:40","modified_gmt":"2020-08-12T14:59:40","slug":"103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\/","title":{"rendered":"AUD\/USD Forms Bearish Reversal, Can the Four-Month Bull Run Halt Now?"},"content":{"rendered":"<p><a href=\"http:\/\/currencylive\/exchange-rate\/aud-to-usd-exchange-rate-today\/\">AUD\/USD<\/a> ran up with strength since the sell-off lows in March, but a long-term resistance came into play in the July second-half.<\/p>\n<p>The pair has now formed a rising wedge which indicates bearish tendencies; the market participants are considering the chances of a turn in the tide.<\/p>\n<p>The early months of 2020 saw a slump in AUD\/USD to a fresh 17-year low, posted in March, and since then had a strong bullish momentum to recover all the losses and to turn mildly positive for the year-to-date.<\/p>\n<p>Significant resistance was in play during this up-move, at 0.7000; the zone also marked the resistance from which the early-year downswing started. The opposition was in the picture during June and tested the strength of the advance until mid-July. Buyers were able to surge past this bastion and pushed up the prices to 0.7185-0.7250.<\/p>\n<p>But, the bullish strength considerably waned after this and resulted in the formation of a rising wedge formation in the AUD\/USD charts. The logic behind the bearishness is the comeback of earlier trepidation around such a key resistance by the bulls; this will allow bears to crack the support once the price falls.<\/p>\n<h2>AUD\/USD Two-Hour Chart Confirms Weakness<\/h2>\n<p>AUD\/USD is weak around the 61.8% Fibonacci retracement of the 2001-2011 move, at 0.7185, as seen in the two-hour chart.<\/p>\n<p>This weakness pushes traders&#8217; attention towards the lower-lows emerged recently and the potential for a lower-high if the resistance is not broken in this area. Such a formation can further weaken the bullish case, and the participants will look to the pair to hold below the last week&#8217;s swing high around the 0.7242 area. A break in the AUD\/USD will see support coming in at 0.7060-0.7072 and then 0.7000.<\/p>\n<p>The latter support is interesting as the earlier strong resistance but one which is failing to lend much help as a support area during the down move.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">USD Index Today - last 90 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f90a5269e196775da43f8cc929b9eac9.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-103188\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f90a5269e196775da43f8cc929b9eac9.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f90a5269e196775da43f8cc929b9eac9-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f90a5269e196775da43f8cc929b9eac9-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f90a5269e196775da43f8cc929b9eac9-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>AUD\/USD ran up with strength since the sell-off lows in March, but a long-term resistance came into play in the July second-half. The pair has now formed a rising wedge which indicates bearish tendencies; the market participants are considering the chances of a turn in the tide. The early months of 2020 saw a slump [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":3625,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[2415],"class_list":{"0":"post-103136","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AUD\/USD Forms Bearish Reversal, Can the Four-Month Bull Run Halt Now? - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"AUD\\\/USD Forms Bearish Reversal, Can the Four-Month Bull Run Halt Now?\",\"datePublished\":\"2020-08-12T07:56:13+00:00\",\"dateModified\":\"2020-08-12T14:59:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\\\/\"},\"wordCount\":385,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100056-aud-gbp-down-china-credit.jpg\",\"keywords\":[\"aud\\\/usd\"],\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103853-aud-usd-forms-bearish-reversal-can-the-four-month-bull-run-halt-now\\\/\",\"name\":\"AUD\\\/USD Forms Bearish Reversal, Can the Four-Month Bull Run Halt Now? 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