• AUD/USD takes the bids to refresh the highest levels in three weeks.
  • Absence of overbought RSI suggests further advances past 200-SMA.
  • 100-SMA, previous resistance line from April limit immediate downside.

AUD/USD prints the biggest daily gains in four as bulls attack the 200-SMA surrounding 0.7140 amid Friday’s Asian session.

The Aussie pair’s upside momentum could be linked to the recent break of the weekly hurdle, near 0.7105.

Despite the latest jump, the RSI (14) line has some room to the north, which in turn favors buyers.

However, the 200-SMA level surrounding 0.7140 appears immediate hurdle for the AUD/USD bulls to cross before heading towards the 50% Fibonacci retracement of April-May downside, near 0.7250.

In a case where the quote rises past 0.7250, the monthly peak of 0.7267 will gain the market’s attention.

On the contrary, pullback moves remain elusive until staying beyond the previous resistance confluence around 0.7020, including the 100-SMA and descending trend line from April 05.

Following that, the 0.7000 threshold and 0.6950 may entertain AUD/USD sellers before directing them to the monthly low of 0.6828.

AUD/USD: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 0.7138
Today Daily Change 0.0039
Today Daily Change % 0.55%
Today daily open 0.7099
 
Trends
Daily SMA20 0.7037
Daily SMA50 0.7261
Daily SMA100 0.7232
Daily SMA200 0.7259
 
Levels
Previous Daily High 0.711
Previous Daily Low 0.7056
Previous Weekly High 0.7074
Previous Weekly Low 0.6872
Previous Monthly High 0.7662
Previous Monthly Low 0.7054
Daily Fibonacci 38.2% 0.709
Daily Fibonacci 61.8% 0.7077
Daily Pivot Point S1 0.7067
Daily Pivot Point S2 0.7035
Daily Pivot Point S3 0.7014
Daily Pivot Point R1 0.712
Daily Pivot Point R2 0.7142
Daily Pivot Point R3 0.7174

 

 

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