“¢ After yesterday’s pull-back, the pair regains positive traction and is now looking to build on its momentum back above the 0.7400 handle. “¢ A weaker-than-expected ADP report exerted some additional downward pressure on the USD and provided an additional boost in the past hour or so. “¢ On the 4-hourly chart, the pair is currently placed at an important confluence region, comprising of a short-term descending trend-channel resistance and 100-period SMA. “¢ With short-term technical indicators on the said chart holding in neutral territory, a strong follow-through buying would be needed to confirm a near-term bullish breakout and increase prospects for any further near-term appreciating move. AUD/USD 4-hourly chart Spot Rate: 0.7405 Daily Low: 0.7361 Trend: Bullish only above the confluence resistance Resistance R1: 0.7425 (overnight swing high) R2: 0.7446 (20-day SMA) R3: 0.7468 (R3 daily pivot-point) Support S1: 0.7384 (10-day SMA) S2: 0.7361 (current day swing low) S3: 0.7342 (S2 daily pivot-point) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next German Chancellor Merkel: she’d back cuts in EU tariffs on cars FX Street 3 years "¢ After yesterday's pull-back, the pair regains positive traction and is now looking to build on its momentum back above the 0.7400 handle. "¢ A weaker-than-expected ADP report exerted some additional downward pressure on the USD and provided an additional boost in the past hour or so. "¢ On the 4-hourly chart, the pair is currently placed at an important confluence region, comprising of a short-term descending trend-channel resistance and 100-period SMA. "¢ With short-term technical indicators on the said chart holding in neutral territory, a strong follow-through buying would be needed… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
