“¢ Having touched a two-week high level of 0.7177, the pair started retreating from a resistance marked by the top end of a short-term ascending trend-channel formation.
“¢ The intraday slide extended through the early European trading session and has now eroded a part of the previous session strong bounce from 200-hour SMA support.
“¢ Slightly overbought conditions on the 1-hourly chart seemed to be the only factor prompting some profit-taking ahead of today’s release of the latest FOMC meeting minutes.
“¢ However, given that the pair is holding comfortably above its important intraday moving averages – 50, 100 & 200-hour SMAs, support prospects for some dip-buying interest.
“¢ Hence, it would be prudent to wait for a convincing break below the trend-channel support before confirming that the recent corrective bounce has already run out of steam.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Today Last Price: 0.7158
Today Daily change %: -0.13%
Today Daily Open: 0.7167
Trends:
Daily SMA20: 0.7153
Daily SMA50: 0.7136
Daily SMA100: 0.716
Daily SMA200: 0.7269
Levels:
Previous Daily High: 0.7175
Previous Daily Low: 0.7103
Previous Weekly High: 0.7149
Previous Weekly Low: 0.7053
Previous Monthly High: 0.7296
Previous Monthly Low: 0.6684
Daily Fibonacci 38.2%: 0.7147
Daily Fibonacci 61.8%: 0.7131
Daily Pivot Point S1: 0.7122
Daily Pivot Point S2: 0.7076
Daily Pivot Point S3: 0.705
Daily Pivot Point R1: 0.7194
Daily Pivot Point R2: 0.722
Daily Pivot Point R3: 0.7266
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