“¢ The pair has been oscillating within a 40-pips broader trading range, below the 0.7400 handle, over the past 24-hours or so, forming a rectangle on short-term charts.
“¢ Given the US-China trade truce-led bullish breakthrough the 0.7340-45 resistance zone, the rectangular formation might now be categorized as a consolidation phase.
“¢ Technical indicators on hourly/daily charts have been holding comfortably in the bullish territory and support prospects for an extension of the near-term positive momentum.
“¢ Hence, a follow-through up-move, even beyond the 0.7400 handle and towards challenging the very important 200-day SMA, remains a distinct possibility.
AUD/USD 4-hourly chart
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AUD/USD
Overview:
Today Last Price: 0.7385
Today Daily change: 32 pips
Today Daily change %: 0.435%
Today Daily Open: 0.7353
Trends:
Previous Daily SMA20: 0.7262
Previous Daily SMA50: 0.7183
Previous Daily SMA100: 0.7242
Previous Daily SMA200: 0.7421
Levels:
Previous Daily High: 0.7394
Previous Daily Low: 0.7318
Previous Weekly High: 0.7345
Previous Weekly Low: 0.7199
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7347
Previous Daily Fibonacci 61.8%: 0.7365
Previous Daily Pivot Point S1: 0.7316
Previous Daily Pivot Point S2: 0.7279
Previous Daily Pivot Point S3: 0.724
Previous Daily Pivot Point R1: 0.7392
Previous Daily Pivot Point R2: 0.7431
Previous Daily Pivot Point R3: 0.7468
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