“¢ The pair struggled to build on its early uptick beyond 100-hour SMA and has now dropped below a short-term ascending trend-line support, held over the past 24-hours or so.
“¢ The mentioned support coincided with 38.2% Fibonacci retracement level of the 0.7164-0.7238 up-move and thus, opens room for an extension of the intraday slide.
“¢ Moreover, weakness below the ascending trend-line support marked a bearish breakthrough a rising wedge chart pattern on the 1-hourly chart and should prompt some fresh selling.
“¢ Technical indicators on the mentioned chart have been losing positive momentum and further add credence to the bearish breakdown, increasing prospects for further downside.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Last Price: 0.7203
Daily change: -8.0 pips
Daily change: -0.111%
Daily Open: 0.7211
Trends:
Daily SMA20: 0.7148
Daily SMA50: 0.7161
Daily SMA100: 0.7259
Daily SMA200: 0.7462
Levels:
Daily High: 0.7226
Daily Low: 0.7164
Weekly High: 0.7304
Weekly Low: 0.7183
Monthly High: 0.724
Monthly Low: 0.702
Daily Fibonacci 38.2%: 0.7202
Daily Fibonacci 61.8%: 0.7187
Daily Pivot Point S1: 0.7174
Daily Pivot Point S2: 0.7138
Daily Pivot Point S3: 0.7112
Daily Pivot Point R1: 0.7237
Daily Pivot Point R2: 0.7263
Daily Pivot Point R3: 0.7299
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