“¢ The pair failed to capitalize on the attempted intraday recovery from two-month lows and continued with its struggle to make it through 50-hour SMA amid a goodish pickup in the USD demand.
“¢ Given the pair’s recent bearish break through the 0.7070-65 horizontal support, bearish oscillators on 4-hourly/daily charts clearly suggest that the near-term bearish pressure might still be far from over.
“¢ Hence, any further up-move beyond the mentioned barrier, supported by mildly positive technical indicators on the 1-hourly chart, runs the risk of meeting with some fresh supply at higher levels.
“¢ The pair remains vulnerable to extend its recent bearish trajectory and aim towards challenging the key 0.70 psychological mark before eventually dropping to the 0.6980-75 horizontal support area.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Today Last Price: 0.7039
Today Daily change: 10 pips
Today Daily change %: 0.14%
Today Daily Open: 0.7029
Trends:
Daily SMA20: 0.7112
Daily SMA50: 0.7134
Daily SMA100: 0.7162
Daily SMA200: 0.7245
Levels:
Previous Daily High: 0.7092
Previous Daily Low: 0.702
Previous Weekly High: 0.7199
Previous Weekly Low: 0.7069
Previous Monthly High: 0.7285
Previous Monthly Low: 0.7053
Daily Fibonacci 38.2%: 0.7048
Daily Fibonacci 61.8%: 0.7065
Daily Pivot Point S1: 0.7002
Daily Pivot Point S2: 0.6975
Daily Pivot Point S3: 0.693
Daily Pivot Point R1: 0.7074
Daily Pivot Point R2: 0.7119
Daily Pivot Point R3: 0.7146
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