AUD/USD technical analysis: Aussie's rise stalls at Tuesday's high of 0.6871


  • AUD/USD's post-CPI rise seems to have stalled at Tuesday's high of 0.6871.
  • The hourly chart favors a drop to Tuesday's low of 0.6836. 
  • A break above 0.6871 is needed to revive the bullish setup. 

The AUD/USD pair failed to take out Tuesday's high of 0.6871 and is currently trading at 0.6864. 

The hourly chart is reporting a bearish divergence of the relative strength index. Further, the MACD histogram is reporting bearish conditions with a below-50 print. 

The pair, therefore, risks falling back to Tuesday's low of 0.6836. 

The outlook would turn bullish if the newfound resistance at 0.6871 is scaled. That possibility cannot be ruled out, as the Aussie CPI for the third quarter came in line with estimates at 00:30 GMT, dashing hopes of another 25 basis point rate cut by the Reserve Bank of Australia (RBA) in November. The central bank has already delivered three 25 basis point rate cuts in 2019. 

Hourly chart

Trend: Bullish above 0.6871

Technical levels

AUD/USD

Overview
Today last price 0.6864
Today Daily Change -0.0003
Today Daily Change % -0.04
Today daily open 0.6864
 
Trends
Daily SMA20 0.6792
Daily SMA50 0.679
Daily SMA100 0.685
Daily SMA200 0.6959
 
Levels
Previous Daily High 0.6872
Previous Daily Low 0.6834
Previous Weekly High 0.6884
Previous Weekly Low 0.6808
Previous Monthly High 0.6895
Previous Monthly Low 0.6687
Daily Fibonacci 38.2% 0.6858
Daily Fibonacci 61.8% 0.6849
Daily Pivot Point S1 0.6842
Daily Pivot Point S2 0.6819
Daily Pivot Point S3 0.6804
Daily Pivot Point R1 0.688
Daily Pivot Point R2 0.6895
Daily Pivot Point R3 0.6917

 

 

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