“¢ The pair stalled its recent corrective slide from near one-month tops and managed to stage a goodish rebound on Friday, now building on the momentum further beyond the 0.7100 handle.
“¢ The downfall over the past two weeks has been along a descending trend-channel, with renewed USD weakness prompting some end of the week short-covering bounce from the channel support.
“¢ The intraday recovery now finds acceptance above 50-hour SMA and technical indicators on the 1-hourly chart have also started gaining positive traction, supporting prospects for further gains.
“¢ Meanwhile, oscillators on 4-hourly/daily charts maintain their bearish bias and hence, subsequent up-move is more likely to get sold into near the trend-channel hurdle, also nearing 200-hour SMA.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Today Last Price: 0.7114
Today Daily change %: 0.30%
Today Daily Open: 0.7093
Trends:
Daily SMA20: 0.7128
Daily SMA50: 0.7175
Daily SMA100: 0.7169
Daily SMA200: 0.7304
Levels:
Previous Daily High: 0.7167
Previous Daily Low: 0.708
Previous Weekly High: 0.7226
Previous Weekly Low: 0.7146
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Daily Fibonacci 38.2%: 0.7113
Daily Fibonacci 61.8%: 0.7134
Daily Pivot Point S1: 0.706
Daily Pivot Point S2: 0.7026
Daily Pivot Point S3: 0.6973
Daily Pivot Point R1: 0.7147
Daily Pivot Point R2: 0.72
Daily Pivot Point R3: 0.7234
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