AUD/USD Technical Analysis: Bounce from 61.8% Fibo./100-day SMA highlights 0.7200 resistance

Anil Panchal FXStreet

AUD/USD is presently trading near 0.7150 ahead of the European open on Tuesday.

The Aussie pair recently bounced off the 0.7140 support-confluence comprising 61.8% Fibonacci retracement of its December 2018 to January 2019 downturn and 100-day simple moving average (SMA).

As a result, chances of its pullback move towards 0.7170 and then to the 0.7195 – 0.7200 resistance area, encompassing 200-day SMA, seem brighter.

Should prices rally beyond 0.7200, 0.7230 and January month highs around 0.7300 could become buyers’ favorites.

In a case where the quote slips beneath 0.7140 support, 0.7100 can offer an intermediate halt ahead of dragging it to 0.7075 trend-line ranging upwards since early March.

Given the sellers’ dominance past-0.7075, 0.7050, 0.7010 and 0.6990 can entertain bears whereas 0.6950 could challenge them afterward.

AUD/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.7151
Today Daily Change	-23 pips
Today Daily Change %	-0.32
Today daily open	0.7174

Trends
Daily SMA20	0.7115
Daily SMA50	0.7109
Daily SMA100	0.7139
Daily SMA200	0.7193

Levels
Previous Daily High	0.7183
Previous Daily Low	0.7163
Previous Weekly High	0.7193
Previous Weekly Low	0.7087
Previous Monthly High	0.7168
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7171
Daily Fibonacci 61.8%	0.7175
Daily Pivot Point S1	0.7163
Daily Pivot Point S2	0.7153
Daily Pivot Point S3	0.7143
Daily Pivot Point R1	0.7183
Daily Pivot Point R2	0.7193
Daily Pivot Point R3	0.7203

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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