- The AUD/USD peeped above the 200-hour exponential moving average (EMA) a few minutes before press time and could rise above the inverse head-and-shoulders neckline resistance of 0.7110 during the day ahead if the equity markets pick up a strong bid.
- At press time, the S&P 500 futures are reporting a 0.55 percent gain. As a result, the European and American equities may trade on the offensive today, pushing the AUD and other risk currencies higher across the board.
- An inverse head-and-shoulders breakout, if confirmed, would open the doors to 0.72 (target as per the measured height method). The hourly RSI of 58.00 and the bullish cross on the MACD does favor a bullish breakout. Further, the long-term charts are indicating that sellers have likely run dry.
Hourly Chart
Spot Rate: 0.7085
Trend: Bullish
AUD/USD
Overview:
Last Price: 0.7087
Daily change: 32 pips
Daily change: 0.454%
Daily Open: 0.7055
Trends:
Daily SMA20: 0.7097
Daily SMA50: 0.718
Daily SMA100: 0.7286
Daily SMA200: 0.7509
Levels:
Daily High: 0.7111
Daily Low: 0.705
Weekly High: 0.7128
Weekly Low: 0.702
Monthly High: 0.7316
Monthly Low: 0.7085
Daily Fibonacci 38.2%: 0.7074
Daily Fibonacci 61.8%: 0.7088
Daily Pivot Point S1: 0.7033
Daily Pivot Point S2: 0.7012
Daily Pivot Point S3: 0.6973
Daily Pivot Point R1: 0.7094
Daily Pivot Point R2: 0.7133
Daily Pivot Point R3: 0.7154