“¢ Having struggled to make it through 0.7150 supply zone, the pair met with some fresh supply on Tuesday and eroded a major part of the overnight up-move to 1-1/2 week tops.
“¢ Technical indicators on the 1-hourly chart have also started drifting into negative territory and thus, increase prospects for an extension of the intraday downfall.
“¢ A convincing break below 100-hour SMA, leading to a subsequent fall below the 0.7100 handle will reinforce the negative outlook and prompt some fresh technical selling.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Last Price: 0.7119
Daily change: -11 pips
Daily change: -0.154%
Daily Open: 0.713
Trends:
Daily SMA20: 0.7175
Daily SMA50: 0.7225
Daily SMA100: 0.7337
Daily SMA200: 0.7549
Levels:
Daily High: 0.715
Daily Low: 0.7099
Weekly High: 0.7141
Weekly Low: 0.7041
Monthly High: 0.7316
Monthly Low: 0.7041
Daily Fibonacci 38.2%: 0.713
Daily Fibonacci 61.8%: 0.7118
Daily Pivot Point S1: 0.7103
Daily Pivot Point S2: 0.7075
Daily Pivot Point S3: 0.7052
Daily Pivot Point R1: 0.7154
Daily Pivot Point R2: 0.7177
Daily Pivot Point R3: 0.7205
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