AUD/USD Technical Analysis: Climbs beyond 100-DMA to hit fresh 6-week tops

Haresh Menghani FXStreet

• The pair stalled its intraday retracement slide and found decent support near 50-hour SMA to hit fresh six-week tops in the last hour.

• Bullish traders now eye a follow-through up-move beyond 23.6% Fibonacci retracement level of the 0.8136-0.7021 Jan. – Oct. downfall.

• Technical indicators on the daily chart have started gaining positive momentum and support prospects for an extension of the bullish trajectory.

• Acceptance above 100-day SMA, and a subsequent move beyond the mentioned hurdle should continue driving the pair higher in the near-term.

AUD/USD 1-hourly chart

AUD/USD

Overview:
    Last Price: 0.7278
    Daily change: 53 pips
    Daily change: 0.734%
    Daily Open: 0.7225
Trends:
    Daily SMA20: 0.7118
    Daily SMA50: 0.7161
    Daily SMA100: 0.7268
    Daily SMA200: 0.7483
Levels:
    Daily High: 0.7243
    Daily Low: 0.7204
    Weekly High: 0.726
    Weekly Low: 0.705
    Monthly High: 0.724
    Monthly Low: 0.702
    Daily Fibonacci 38.2%: 0.7228
    Daily Fibonacci 61.8%: 0.7219
    Daily Pivot Point S1: 0.7205
    Daily Pivot Point S2: 0.7186
    Daily Pivot Point S3: 0.7167
    Daily Pivot Point R1: 0.7244
    Daily Pivot Point R2: 0.7263
    Daily Pivot Point R3: 0.7282

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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