- AUD/USD stays above 0.6900 after upbeat Aussie Retail Sales, China Caixin PMI.
- 21-day SMA offers immediate support ahead of the weekly low.
- 0.6975/80 acts as an additional upside barrier beyond the immediate resistance line.
- Bearish MACD, multiple resistances keep the buyers cautiously optimistic.
AUD/USD extends recovery moves from 0.6913 to trade around 0.6925, intraday high of 0.6931, during early Friday. Despite refraining from much rise after the welcome data, the quote remains on the front foot for the fourth day in a row, which in turn propels the bulls towards crossing a three-week-old resistance line.
Even if the buyers manage to cross the descending trend line from June 11, at 0.6461 now, bearish MACD and a horizontal area around 0.6975/80 established since June 16 could restrict the pair’s further upside.
However, the quote’s ability to pierce 0.6980 will easily surpass 0.7000 threshold to challenge the previous month's high of 0.7065.
Alternatively, a 21-day SMA level of 0.6906 limits the pair’s near-term declines, a break of which could highlight the weekly bottom surrounding 0.6830.
In a case where the bears refrain from stepping back around 0.6830, 0.6810, 0.6800 and the mid-June bottom around 0.6775 will flash on their radars.
AUD/USD daily chart
Additional important levels
|Today last price||0.6923|
|Today Daily Change||0.0000|
|Today Daily Change %||0.00|
|Today daily open||0.6923|
|Previous Daily High||0.6953|
|Previous Daily Low||0.6902|
|Previous Weekly High||0.6975|
|Previous Weekly Low||0.6811|
|Previous Monthly High||0.7065|
|Previous Monthly Low||0.6648|
|Daily Fibonacci 38.2%||0.6933|
|Daily Fibonacci 61.8%||0.6921|
|Daily Pivot Point S1||0.6899|
|Daily Pivot Point S2||0.6874|
|Daily Pivot Point S3||0.6847|
|Daily Pivot Point R1||0.695|
|Daily Pivot Point R2||0.6977|
|Daily Pivot Point R3||0.7002|
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