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  • AUD/USD is taking a breather, having charted a three-day winning streak.
  • A re-test of the key Fibonacci level of 0.6832 could be in the offing.

AUD/USD is sidelined in Asia, having confirmed a three-day winning streak with 0.25% gains on Thursday.

The currency pair is currently trading at 0.6813, having hit a low of 0.6807 soon before press time.

The rally from the Sept. 3 low of 0.6687 ran out of steam closer to 0.6832 (38.2% Fib R of 0.7082/0.6677) in the last 24 hours.

The short-term outlook, however, remains bullish with the 5- and 10-day moving averages (MAs) trending north and the relative strength index hovering above 50.00.

So, the pair could have another go at 0.6832 later today – more so, as the 0.25% gains in the S&P 500 futures are pointing to risk-on.

A daily close above 0.6832 would bolster the bullish case and open the doors to 0.6910 (July 10 low). On the downside, a close below the 10-day moving average (MA) of 0.6762 would neutralize the bullish view.

Daily chart

Trend: Bullish

Pivot points