- AUD/USD stays positive above 200-day SMA, 38.2% Fibonacci retracement.
- Bearish candlestick formation, MACD doubts the recent strength.
- 0.7000 becomes the key resistance.
AUD/USD rises to 0.6920 during the early trading hours of Thursday. The Aussie pair flashed a bearish candlestick formation, Doji, on the daily chart on Wednesday. Also increasing the odds of the pair’s pullback is bearish MACD.
Even so, a 200-day SMA level around 0.6890/85 keeps the pair’s short-term downside limited, a break of which can fetch AUD/USD prices to 50% Fibonacci retracement of pair’s October-January month upside, at 0.6855.
During the pair’s weakness below 0.6855, an upward sloping trend line since early October at 0.6823 and 61.8% of Fibonacci retracement near 0.6810 will be important to watch.
On the flip side, the pair’s daily closing above 21-day SMA level of 0.6930 enables the pair to challenge a 23.6% Fibonacci retracement level of 0.6955.
In a case where the buyers manage to cross 0.6955, 0.7000 round-figure will be on their radar.
AUD/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||0.6915|
|Today Daily Change||10 pips|
|Today Daily Change %||0.14%|
|Today daily open||0.6905|
|Previous Daily High||0.6918|
|Previous Daily Low||0.6877|
|Previous Weekly High||0.6959|
|Previous Weekly Low||0.6848|
|Previous Monthly High||0.7033|
|Previous Monthly Low||0.6762|
|Daily Fibonacci 38.2%||0.6902|
|Daily Fibonacci 61.8%||0.6893|
|Daily Pivot Point S1||0.6882|
|Daily Pivot Point S2||0.6859|
|Daily Pivot Point S3||0.6841|
|Daily Pivot Point R1||0.6923|
|Daily Pivot Point R2||0.6941|
|Daily Pivot Point R3||0.6964|
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