“¢ Over the past week or so, the pair has been finding decent support near 100-hour SMA, albeit the positive momentum has repeatedly failed near a short-term ascending trend-line resistance.
“¢ Technical indicators on the 1-hourly chart have started drifting into negative territory, suggesting that the recent recovery move from 32-month lows might have already started losing steam.
“¢ However, it would be prudent to wait for a convincing break below the mentioned support to confirm the near-term bearish outlook and the resumption of the prior depreciating trend.
“¢ Alternatively, a sustained move beyond mid-0.7100s, leading to a subsequent break through the trend-line resistance should pave the way for an extension of the recent corrective bounce.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Last Price: 0.7124
Daily change: 15 pips
Daily change: 0.211%
Daily Open: 0.7109
Trends:
Daily SMA20: 0.7164
Daily SMA50: 0.7213
Daily SMA100: 0.7329
Daily SMA200: 0.7542
Levels:
Daily High: 0.7161
Daily Low: 0.7106
Weekly High: 0.7141
Weekly Low: 0.7041
Monthly High: 0.7316
Monthly Low: 0.7085
Daily Fibonacci 38.2%: 0.7127
Daily Fibonacci 61.8%: 0.714
Daily Pivot Point S1: 0.709
Daily Pivot Point S2: 0.7071
Daily Pivot Point S3: 0.7035
Daily Pivot Point R1: 0.7145
Daily Pivot Point R2: 0.718
Daily Pivot Point R3: 0.7199
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