- AUD/USD snaps two-day winning streak, drops 0.40% in Asia.
- A sustained break below 200-HMA can aim for a two-day-old support line.
- The weekly rising trend line adds to the upside barriers.
AUD/USD drops to the intraday low of 0.6338, currently down 0.40% on a day to 0.6344, while heading into the European open on Friday.
In doing so, the pair slips beneath the 200-HMA level of 0.6345, which in turn can drag the quote further down towards a two-day-old rising trend line, near 0.6305.
If at all bearish MACD and a downward sloping curve of RSI keep luring the bears below 0.6300, the weekly bottom surrounding 0.6250 can be questioned.
On the contrary, 61.8% Fibonacci retracement of April 14-21 fall, near 0.6370, as well as an ascending trend line since April 16, around 0.6410, becomes the key to watch if the pair bounces back beyond 0.6345 immediate resistance.
AUD/USD hourly chart
Trend: Further downside expected
Additional important levels
|Today last price||0.6348|
|Today Daily Change||-21 pips|
|Today Daily Change %||-0.33%|
|Today daily open||0.6369|
|Previous Daily High||0.6406|
|Previous Daily Low||0.6282|
|Previous Weekly High||0.6445|
|Previous Weekly Low||0.6264|
|Previous Monthly High||0.6686|
|Previous Monthly Low||0.5509|
|Daily Fibonacci 38.2%||0.6359|
|Daily Fibonacci 61.8%||0.633|
|Daily Pivot Point S1||0.6299|
|Daily Pivot Point S2||0.6229|
|Daily Pivot Point S3||0.6175|
|Daily Pivot Point R1||0.6423|
|Daily Pivot Point R2||0.6476|
|Daily Pivot Point R3||0.6546|
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