• The pair edged lower for the fourth consecutive session and extended last week's rejection slide from the very important 200-day SMA and a subsequent break through a short-term ascending trend-channel.
• The downward momentum has now dragged the pair closer to the 0.7100 round figure mark, which coincides with a support marked by a short-term ascending trend-line extending from early March swing lows.
• Meanwhile, technical indicators on the daily chart have just started gaining negative momentum but are already pointing to slightly oversold conditions on hourly charts and thus, warrant some near-term consolidation.
• However, sustained weakness below the mentioned trend-line support would mark a bearish breakdown and pave the way for an extension of the ongoing slide towards the 0.7070-65 horizontal support area.
AUD/USD daily chart
|Today last price||0.711|
|Today Daily Change||-0.0024|
|Today Daily Change %||-0.34|
|Today daily open||0.7134|
|Previous Daily High||0.7155|
|Previous Daily Low||0.7128|
|Previous Weekly High||0.7206|
|Previous Weekly Low||0.7136|
|Previous Monthly High||0.7168|
|Previous Monthly Low||0.7002|
|Daily Fibonacci 38.2%||0.7138|
|Daily Fibonacci 61.8%||0.7144|
|Daily Pivot Point S1||0.7123|
|Daily Pivot Point S2||0.7112|
|Daily Pivot Point S3||0.7096|
|Daily Pivot Point R1||0.715|
|Daily Pivot Point R2||0.7166|
|Daily Pivot Point R3||0.7177|
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