Search ForexCrunch

   “¢   The pair stalled its strong upsurge ahead of an important confluence resistance, comprising of 100-day SMA and 23.6% Fibonacci retracement level of the 0.8136-0.7021 YTD decline.  

   “¢   A goodish USD rebound, following the release of stronger than expected US monthly jobs, was seen as one of the key factors prompting some long-unwinding trade from five-week tops.  

   “¢   However, given that the pair has found acceptance above 50-day SMA, for the first time since early April, support prospects for an extension of the recovery move from over 32-month lows.  

   “¢   Technical indicators on the daily chart have just started catching up with the recent positive momentum and were seen cooling off near-term overbought conditions on hourly charts.

   “¢   The set-up clearly points to possibilities of some dip-buying interest and adds credence to the constructive outlook, which should help limit any immediate sharp downfall.
 

AUD/USD daily chart

AUD/USD

Overview:
       Last Price:  0.7219
       Daily change:  13  pips
       Daily change:  0.180%
       Daily Open:  0.7206
Trends:
       Daily SMA20:  0.7098
       Daily SMA50:  0.7168
       Daily SMA100:  0.7274
       Daily SMA200:  0.7495
Levels:
       Daily High:  0.7214
       Daily Low:  0.7072
       Weekly High:  0.7128
       Weekly Low:  0.702
       Monthly High:  0.724
       Monthly Low:  0.702
       Daily Fibonacci 38.2%:  0.716
       Daily Fibonacci 61.8%:  0.7126
       Daily Pivot Point S1:  0.7114
       Daily Pivot Point S2:  0.7022
       Daily Pivot Point S3:  0.6972
       Daily Pivot Point R1:  0.7256
       Daily Pivot Point R2:  0.7306
       Daily Pivot Point R3:  0.7397