AUD/USD Price Analysis: USD strength foils the attempt to hit the recent high of 0.7064

AUD/USD trades 0.29% higher on Wednesday but the bulls have been foiled.
It looked like the pair was set to attack the high of 0.7064.

Rajan Dhall, MSTA FX Daily

AUD/USD 4-hour chart

AUD/USD was trading very well on Wednesday hitting a high of 0.7037 but now the pair has pushed under the psychological 0.70 area once again. The market is trying to push the pair below the intraday support level at the purple line but there is currently some hesitation.

Looking at the 4-hour chart below, the pair is still in an uptrend. The price has been making higher highs and higher lows after breaking out of the consolidation area. If the market is to break lower there are some key support zones the bears will need to break. 0.6919 could be a ticky point if there is to be more USD strength and below that the red support line could also be tested. There is also the 200 Simple Moving Average in the way too.

The indicators are still bullish as the Relative Strength Index trades above the 50 area. The MACD histogram is green and the signal lines are still above zero which indicates the market is still in an uptrend.

Additional levels

AUD/USD

Overview
Today last price	0.6999
Today Daily Change	0.0023
Today Daily Change %	0.33
Today daily open	0.6976

Trends
Daily SMA20	0.6915
Daily SMA50	0.6779
Daily SMA100	0.6534
Daily SMA200	0.6679

Levels
Previous Daily High	0.6978
Previous Daily Low	0.6921
Previous Weekly High	0.7001
Previous Weekly Low	0.6922
Previous Monthly High	0.7065
Previous Monthly Low	0.6648
Daily Fibonacci 38.2%	0.6956
Daily Fibonacci 61.8%	0.6942
Daily Pivot Point S1	0.6938
Daily Pivot Point S2	0.6901
Daily Pivot Point S3	0.6881
Daily Pivot Point R1	0.6996
Daily Pivot Point R2	0.7016
Daily Pivot Point R3	0.7053

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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