“¢ The pair extended its steady intraday decline through the mid-European session and weakened further below mid-0.7100s, eroding a major part of the previous session’s goodish up-move.
“¢ The intraday downtick has now dragged the pair to confluence support – comprising of the lower end of a descending trend-channel formation on short-term charts and 100-hour SMA.
“¢ Technical indicators on the 1-hourly chart have just started gaining negative traction, albeit bullish/neutral oscillators on higher time-frames might help limit deeper losses.
“¢ Hence, traders are likely to wait for a convincing break below the mentioned support before positioning for some additional weakness towards the 0.7130-25 region en-route the 0.7100 handle.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Today Last Price: 0.715
Today Daily change %: -0.29%
Today Daily Open: 0.7171
Trends:
Daily SMA20: 0.7152
Daily SMA50: 0.7132
Daily SMA100: 0.7163
Daily SMA200: 0.7261
Levels:
Previous Daily High: 0.7185
Previous Daily Low: 0.7128
Previous Weekly High: 0.7207
Previous Weekly Low: 0.707
Previous Monthly High: 0.7296
Previous Monthly Low: 0.6684
Daily Fibonacci 38.2%: 0.7163
Daily Fibonacci 61.8%: 0.715
Daily Pivot Point S1: 0.7138
Daily Pivot Point S2: 0.7104
Daily Pivot Point S3: 0.7081
Daily Pivot Point R1: 0.7195
Daily Pivot Point R2: 0.7218
Daily Pivot Point R3: 0.7252
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