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The pair stalled its recent bearish slide near the key 0.70 psychological mark and started rebounding from a short-term descending trend-line support.

The goodish intraday bounce of around 25-pips lifted the pair back closer to 50-hour SMA, which has been acting as a key barrier since last Thursday.

In absence of any fresh trigger, repositioning trade ahead of today’s key data risk – NFP seemed to be the only factor prompting some short-covering.

Technical indicators on the 1-hourly chart have just started gaining positive momentum, through maintained their bearish bias on 4-hourly/daily charts.

Hence, it would be prudent to wait for a strong follow-through buying before confirming that the pair might have already bottomed out in the near-term.

AUD/USD 1-hourly chart


       Today Last Price:  0.7025
       Today Daily change:  15  pips
       Today Daily change %:  0.21%
       Today Daily Open:  0.701
       Daily SMA20:  0.7108
       Daily SMA50:  0.7133
       Daily SMA100:  0.7161
       Daily SMA200:  0.7243
       Previous Daily High:  0.7052
       Previous Daily Low:  0.7004
       Previous Weekly High:  0.7199
       Previous Weekly Low:  0.7069
       Previous Monthly High:  0.7285
       Previous Monthly Low:  0.7053
       Daily Fibonacci 38.2%:  0.7022
       Daily Fibonacci 61.8%:  0.7034
       Daily Pivot Point S1:  0.6992
       Daily Pivot Point S2:  0.6974
       Daily Pivot Point S3:  0.6944
       Daily Pivot Point R1:  0.704
       Daily Pivot Point R2:  0.707
       Daily Pivot Point R3:  0.7088