“¢ The pair stalled its intraday positive momentum and started retreating from a resistance marked by a short-term ascending trend-channel, held over the past 24-hours or so.
“¢ Meanwhile, technical indicators on hourly charts support prospects for an extension of the upward trajectory and have also started gaining positive momentum on the daily chart.
“¢ The set-up clearly suggests that any meaningful dips towards the trend-channel support, currently near the 0.7220 region, are likely to be utilized as a buying opportunity.
“¢ Only a sustained break through the mentioned support might negate the near-term positive outlook and turn the pair vulnerable to extend its retracement slide from over 5-week tops.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Last Price: 0.7231
Daily change: 19 pips
Daily change: 0.263%
Daily Open: 0.7212
Trends:
Daily SMA20: 0.7112
Daily SMA50: 0.7163
Daily SMA100: 0.7269
Daily SMA200: 0.7487
Levels:
Daily High: 0.7219
Daily Low: 0.7183
Weekly High: 0.726
Weekly Low: 0.705
Monthly High: 0.724
Monthly Low: 0.702
Daily Fibonacci 38.2%: 0.7205
Daily Fibonacci 61.8%: 0.7196
Daily Pivot Point S1: 0.719
Daily Pivot Point S2: 0.7168
Daily Pivot Point S3: 0.7153
Daily Pivot Point R1: 0.7226
Daily Pivot Point R2: 0.7241
Daily Pivot Point R3: 0.7263
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