• AUD/USD picks up bids to refresh intraday high, snaps two-day downtrend.
  • 50% Fibonacci retracement, weekly support line restrict short-term downside.
  • One-week-old horizontal area, 50-HMA add to the upside filters.
  • Higher high on prices, RSI favors bulls to battle short-term resistances.

AUD/USD renews intraday high around 0.7090, up 0.20% on a day during early Monday morning in Europe.

In doing so, the Aussie pair portrays a corrective pullback beyond short-term key Fibonacci retracement levels while challenging the 200-HMA. Adding strength to the bullish is the higher low in the RSI line, as well as the AUD/USD prices.

It should be noted, however, that the 200-HMA level of 0.7095 guards the quote’s immediate upside.

Following that, a one-week-old horizontal area joins 50-HMA to challenge AUD/USD bulls around 0.7110, a break of which will confirm short-term bullish bias targeting 0.7170.

Meanwhile, pullback moves may initially test the 50% and 61.8% Fibonacci retracement levels of January 28 to February 03 upside, respectively at 0.7067 and 0.7043.

Also acting as a downside filter is an upward sloping trend line from February 01, near 0.7055.

Should the quote drops below 0.7043, the odds of its further south-run targeting the 0.7000 psychological magnet can’t be ruled out.

AUD/USD: Hourly chart

Trend: Pullback expecte

Additional important levels

Overview
Today last price 0.7089
Today Daily Change 0.0014
Today Daily Change % 0.20%
Today daily open 0.7075
 
Trends
Daily SMA20 0.7158
Daily SMA50 0.7163
Daily SMA100 0.7253
Daily SMA200 0.738
 
Levels
Previous Daily High 0.7153
Previous Daily Low 0.7051
Previous Weekly High 0.7168
Previous Weekly Low 0.6985
Previous Monthly High 0.7315
Previous Monthly Low 0.6966
Daily Fibonacci 38.2% 0.709
Daily Fibonacci 61.8% 0.7114
Daily Pivot Point S1 0.7033
Daily Pivot Point S2 0.6991
Daily Pivot Point S3 0.6931
Daily Pivot Point R1 0.7135
Daily Pivot Point R2 0.7195
Daily Pivot Point R3 0.7237

 

 

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