AUD/USD Price Analysis: The price looks set to move above 0.73 once again


  • AUD/USD trades 0.30% higher after a couple of tough sessions.
  • The price has found some support after the NFP data.

AUD/USD Price Analysis

AUD/USD has pushed higher today while some of the other majors struggled. Most of the majors have recovered after the USD gained some short term strength following the US non-farm payroll data. Both the unemployment and NFP numbers beat analyst consensus estimates but many of the jobs added have been proved to be government jobs. A large amount of hiring came from Census workers, whose rolls increased by 328,000.

Looking at the chart, the price bounce off the red support level at 0.7239. The price has been moving smoothly in a channel for some time now (marked in black). This looks like a classic trend continuation structure and the price now test the previous highs. If the channel low does break then the blue horizontal line could be the next support zone at 0.7145. 

Looking at the indicators, the MACD the signal lines have dipped below the mid-level and the histogram is firmly in the red. The Relative Strength Index is also bearish below the 50 line but the indicator is moving away from the oversold area.

Overall, this is still a pretty strong uptrend. The market is still making higher highs and higher lows on the higher timeframes. It is still too early to call a change in trend but a break of the channel could be an indication. 

AUD/USD Technical Analysis

Additional levels

AUD/USD

Overview
Today last price 0.7295
Today Daily Change 0.0021
Today Daily Change % 0.29
Today daily open 0.7274
 
Trends
Daily SMA20 0.7225
Daily SMA50 0.7113
Daily SMA100 0.6878
Daily SMA200 0.6744
 
Levels
Previous Daily High 0.734
Previous Daily Low 0.7264
Previous Weekly High 0.7369
Previous Weekly Low 0.715
Previous Monthly High 0.7416
Previous Monthly Low 0.7076
Daily Fibonacci 38.2% 0.7293
Daily Fibonacci 61.8% 0.7311
Daily Pivot Point S1 0.7245
Daily Pivot Point S2 0.7217
Daily Pivot Point S3 0.7169
Daily Pivot Point R1 0.7321
Daily Pivot Point R2 0.7369
Daily Pivot Point R3 0.7397

 

 

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