AUD/USD technical analysis: At session highs, immediate bearish outlook neutralized

AUD/USD confirmed a bullish doji reversl with moderate gains on Friday.
The 10-day moving average could come into play in the next 24 hours ro so.

Omkar Godbole FXStreet Contributor

AUD/USD is currently trading at session highs above 0.7055, having neutralized the immediate bearish view with a 0.30 percent gain on Friday. The pair picked up a bid on Friday following the US first quarter GDP release and ended in green, validating the Doji candle created on Thursday.

Daily chart

The bullish doji reversal confirmed on Friday has opened up upside towards the 10-day moving average (MA), currently at 0.7100.

The pair may close above that bearish (downward sloping) average today if the US Personal Spending and core PCE – Fed’s preferred measure of inflation – due today at 12:30 GMT miss expectations, validating Fed’s patience on rates.

Friday’s US GDP released indeed carried a big beat on the headlines. The details, however, revealed a slowdown in consumer spending – a main engine of the US economy – indicating the world's biggest economy remains on track for a more pronounced slowdown in the coming quarter than the one seen in the first couple of months of 2019.

Trend: Intraday bullish

AUD/USD

Overview
Today last price	0.7057
Today Daily Change	0.0011
Today Daily Change %	0.16
Today daily open	0.7046

Trends
Daily SMA20	0.7118
Daily SMA50	0.7108
Daily SMA100	0.7123
Daily SMA200	0.718

Levels
Previous Daily High	0.7062
Previous Daily Low	0.7002
Previous Weekly High	0.7155
Previous Weekly Low	0.6988
Previous Monthly High	0.7168
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7039
Daily Fibonacci 61.8%	0.7025
Daily Pivot Point S1	0.7012
Daily Pivot Point S2	0.6978
Daily Pivot Point S3	0.6953
Daily Pivot Point R1	0.7071
Daily Pivot Point R2	0.7096
Daily Pivot Point R3	0.713

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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