AUD/USD Price Analysis: Eyes a test of 200-day EMA on conquering 0.6700 resistance


  • Quiet market mood on account of Thanksgiving Day has turned the Aussie asset sideways.
  • An establishment of the AUD/USD pair above 0.6700 has strengthened the Australian Dollar.
  • The 200-EMA at 0.6847 is expected to be smashed by the major sooner.

The AUD/USD pair is displaying back-and-forth moves in a 10-pips range in the early Asian session. The Aussie asset has turned sideways after printing a fresh weekly high at 0.6778 amid a quiet market mood on account of Thanksgiving Day.

Meanwhile, the USD Index (DXY) is still in the hangover of ‘less-hawkish’ cues from the Federal Open Market Committee (FOMC) minutes. The US Dollar is hovering below the critical hurdle of 106.00 amid the risk appetite theme.

On a daily scale, the Aussie asset has confidently established above the horizontal support plotted near July 14 low around 0.6700. The next hurdle for the Aussie asset is the 200-period Exponential Moving Average (EMA) at 0.6847, which has remained a major ceiling.

The 20-period EMA at 0.6616 is scaling higher, which adds to the upside filters.

Meanwhile, the Relative Strength Index (RSI) (14) is focusing on shifting into the bullish range of 60.00-80.00, which will trigger a bullish momentum.

Going forward, a break above Thursday’s high at 0.6778 will extend the three-day winning streak, which will drive the asset toward the round-level resistance at 0.6800, followed by the 200-EMA at 0.6847.

On the flip side, the Australian Dollar could lose strength if the Aussie asset drops below Monday’s low at 0.6585. This will drag the major towards October 4 high at 0.6548 and November 2 high at 0.6493.

AUD/USD hourly chart

AUD/USD

Overview
Today last price 0.6762
Today Daily Change 0.0023
Today Daily Change % 0.34
Today daily open 0.6739
 
Trends
Daily SMA20 0.6553
Daily SMA50 0.6487
Daily SMA100 0.6691
Daily SMA200 0.694
 
Levels
Previous Daily High 0.6739
Previous Daily Low 0.6634
Previous Weekly High 0.6798
Previous Weekly Low 0.6634
Previous Monthly High 0.6548
Previous Monthly Low 0.617
Daily Fibonacci 38.2% 0.6699
Daily Fibonacci 61.8% 0.6674
Daily Pivot Point S1 0.6669
Daily Pivot Point S2 0.6599
Daily Pivot Point S3 0.6565
Daily Pivot Point R1 0.6774
Daily Pivot Point R2 0.6808
Daily Pivot Point R3 0.6878

 

 

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