“¢ The pair has managed to rebound around 20-25 pips from fresh 32-month lows and in the process managed to clear a descending trend-line resistance on the 1-hourly chart.
“¢ The said trend-line constituted towards the formation of a bullish falling-wedge chart pattern formation, suggesting that the pair might have already bottomed out near mid-0.7000s.
“¢ On the mentioned chart, mixed technical indicators haven’t been supportive of the bullish formation and hence, any subsequent up-move seems more likely to be capped at 100-hour SMA.
“¢ The upcoming release of the keenly watched US monthly jobs report (NFP) will play an important role in determining the pair’s next leg of directional move.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Last Price: 0.7078
Daily change: 1.0 pips
Daily change: 0.0141%
Daily Open: 0.7077
Trends:
Daily SMA20: 0.7194
Daily SMA50: 0.7268
Daily SMA100: 0.7369
Daily SMA200: 0.7575
Levels:
Daily High: 0.7114
Daily Low: 0.7066
Weekly High: 0.7316
Weekly Low: 0.7202
Monthly High: 0.7316
Monthly Low: 0.7085
Daily Fibonacci 38.2%: 0.7084
Daily Fibonacci 61.8%: 0.7095
Daily Pivot Point S1: 0.7057
Daily Pivot Point S2: 0.7037
Daily Pivot Point S3: 0.7008
Daily Pivot Point R1: 0.7105
Daily Pivot Point R2: 0.7134
Daily Pivot Point R3: 0.7154
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