AUD/USD Technical Analysis: 61.8 percent Fib has put brakes on the rally

AUD/USD's rally from the Jan. 3 low of 0.6744 has run into a roadblock at 0.7146 - 61.8 percent Fibonacci retracement of 0.7393/0.6744.
The 5-day and 10-day moving averages (MAs) are trending north, having produced a bullish crossover. The outlook, therefore, would turn bullish if the AUD finds acceptance above the 61.8 percent hurdle.
Repeated failure to take out the golden ratio of the 61.8 percent Fib would weaken bullish pressures.

Omkar Godbole FXStreet Contributor

Daily chart

Trend: Bullish above 61.8% Fib

AUD/USD

Overview:
    Today Last Price: 0.7127
    Today Daily change: -17 pips
    Today Daily change %: -0.238%
    Today Daily Open: 0.7144
Trends:
    Previous Daily SMA20: 0.7102
    Previous Daily SMA50: 0.7186
    Previous Daily SMA100: 0.7183
    Previous Daily SMA200: 0.7341
Levels:
    Previous Daily High: 0.7151
    Previous Daily Low: 0.7089
    Previous Weekly High: 0.7125
    Previous Weekly Low: 0.6684
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Previous Daily Fibonacci 38.2%: 0.7127
    Previous Daily Fibonacci 61.8%: 0.7113
    Previous Daily Pivot Point S1: 0.7105
    Previous Daily Pivot Point S2: 0.7066
    Previous Daily Pivot Point S3: 0.7043
    Previous Daily Pivot Point R1: 0.7167
    Previous Daily Pivot Point R2: 0.719
    Previous Daily Pivot Point R3: 0.7229

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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