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   “¢   The pair’s intraday retracement found some dip-buying interest near last week’s swing high resistance break-point, now turned support, around the 0.7350-45 region.

   “¢   Technical indicators on hourly charts have already cooled off from overbought conditions and maintain their bullish bias on the daily chart, pointing to a bullish set-up.  

   “¢   Hence, the pair seems more likely to aim towards surpassing the 0.7400 handle and test the very important 200-day SMA for the first time since mid-March, nearly nine months.  

   “¢   Any subsequent up-move is likely to pause near the 0.7450-60 congestion zone, nearing 38.2% Fibonacci retracement level of the 0.8136-0.7021 late-Jan. to late-Oct. downfall.
 

AUD/USD daily chart

AUD/USD

Overview:
       Today Last Price:  0.738
       Today Daily change:  71  pips
       Today Daily change %:  0.971%
       Today Daily Open:  0.7309
Trends:
       Previous Daily SMA20:  0.7255
       Previous Daily SMA50:  0.7181
       Previous Daily SMA100:  0.7243
       Previous Daily SMA200:  0.7423
Levels:
       Previous Daily High:  0.7327
       Previous Daily Low:  0.7284
       Previous Weekly High:  0.7345
       Previous Weekly Low:  0.7199
       Previous Monthly High:  0.7345
       Previous Monthly Low:  0.7072
       Previous Daily Fibonacci 38.2%:  0.73
       Previous Daily Fibonacci 61.8%:  0.7311
       Previous Daily Pivot Point S1:  0.7286
       Previous Daily Pivot Point S2:  0.7264
       Previous Daily Pivot Point S3:  0.7243
       Previous Daily Pivot Point R1:  0.7329
       Previous Daily Pivot Point R2:  0.735
       Previous Daily Pivot Point R3:  0.7372