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  • Trapped in a falling channel on the 15-minute chart, the AUD/USD is currently trading at 0.7268.
  • A break above the upper edge of the channel would validate yesterday’s bullish close above the 100-day exponential moving average (EMA) and could yield a convincing move above 0.73.  
  • A downside break could yield a deeper pullback to the ascending 5-day EMA, currently at 0.7236. The pullback, however, could be short-lived as the 5-, 10-day EMAs are trending north and the 14-day RSI is printing bullish above 50.00.
  • A better-than-expected China trade surplus may boost risk appetite and lift the AUD well above the falling channel resistance. A sustained rally, however, could be seen if the details reveal a sharp rise iron ore and copper imports (two of Australia’s top exports).

15-minute chart

Trend: Neutral

AUD/USD

Overview:
       Last Price:  0.7269
       Daily change:  -9.0  pips
       Daily change:  -0.124%
       Daily Open:  0.7278
Trends:
       Daily SMA20:  0.7129
       Daily SMA50:  0.716
       Daily SMA100:  0.7267
       Daily SMA200:  0.7478
Levels:
       Daily High:  0.7302
       Daily Low:  0.7213
       Weekly High:  0.726
       Weekly Low:  0.705
       Monthly High:  0.724
       Monthly Low:  0.702
       Daily Fibonacci 38.2%:  0.7268
       Daily Fibonacci 61.8%:  0.7247
       Daily Pivot Point S1:  0.7227
       Daily Pivot Point S2:  0.7175
       Daily Pivot Point S3:  0.7138
       Daily Pivot Point R1:  0.7316
       Daily Pivot Point R2:  0.7354
       Daily Pivot Point R3:  0.7405