- The AUD/USD moved back above the key ascending trendline yesterdays, weakening the bearish pressure. The bulls, however, are not of the woods yet as a daily indicator continues to diverge in favor of the bears.
Daily Chart
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- The bearish divergence of the MACD indicates the tide has turned in favor of the bears.
Hourly Chart
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- As seen above, the current hourly candle is attempting a break below the ascending trendline support. A breakdown of that diagonal support line, if confirmed, would validate the bearish divergence of the daily MACD and allow a re-test of the recent low of 0.72.
- The bearish view would be negated if the spot finds acceptance above the 100-hour MA of 0.7275.
AUD/USD
Overview:
Last Price: 0.7252
Daily change: -9.0 pips
Daily change: -0.124%
Daily Open: 0.7261
Trends:
Daily SMA20: 0.7201
Daily SMA50: 0.7175
Daily SMA100: 0.7253
Daily SMA200: 0.7445
Levels:
Daily High: 0.7279
Daily Low: 0.7202
Weekly High: 0.7336
Weekly Low: 0.7164
Monthly High: 0.724
Monthly Low: 0.702
Daily Fibonacci 38.2%: 0.725
Daily Fibonacci 61.8%: 0.7232
Daily Pivot Point S1: 0.7216
Daily Pivot Point S2: 0.7171
Daily Pivot Point S3: 0.714
Daily Pivot Point R1: 0.7293
Daily Pivot Point R2: 0.7324
Daily Pivot Point R3: 0.7369
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