“¢ The pair struggled to build on overnight strong up-move and once again met with some supply near the 0.7130 region, albeit the retracement slide remained limited.
“¢ The fact that the pair has found acceptance above 200-hour SMA support prospects for an extension of the near-term recovery move from 32-month lows.
“¢ Positive technical indicators on the mentioned chart further add credence to the constructive outlook and possibilities of a near-term bullish breakout.
“¢ However, it would be prudent to wait for a convincing breakthrough the 0.7130 resistance before traders start positioning for any further appreciating move.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Last Price: 0.7121
Daily change: -3.0 pips
Daily change: -0.0421%
Daily Open: 0.7124
Trends:
Daily SMA20: 0.718
Daily SMA50: 0.7236
Daily SMA100: 0.7345
Daily SMA200: 0.7557
Levels:
Daily High: 0.7131
Daily Low: 0.7046
Weekly High: 0.724
Weekly Low: 0.7042
Monthly High: 0.7316
Monthly Low: 0.7042
Daily Fibonacci 38.2%: 0.7098
Daily Fibonacci 61.8%: 0.7078
Daily Pivot Point S1: 0.7069
Daily Pivot Point S2: 0.7015
Daily Pivot Point S3: 0.6984
Daily Pivot Point R1: 0.7155
Daily Pivot Point R2: 0.7186
Daily Pivot Point R3: 0.724
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