AUD/USD Technical Analysis: Disappointing Chinese PMI-led slide finds decent support near 100-hour SMA

Haresh Menghani FXStreet

• The pair stalled its disappointing Chinese manufacturing PMI-led intraday slide and managed to find decent support near 100-hour SMA amid some renewed USD weakness.

• However, given the overnight break through a short-term ascending trend-channel support, bearish oscillators on the daily chart might keep a lid on any subsequent up-move.

• Meanwhile, technical indicators on hourly charts have already recovered from the negative territory and support prospects for an extension of the intraday positive momentum.

• A follow-through buying has the potential to lift the pair further beyond intraday swing high but seems more likely to remain capped/sold into near the 0.7080 horizontal resistance.

AUD/USD 1-hourly chart

AUD/USD

Overview
Today last price	0.7058
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	0.7057

Trends
Daily SMA20	0.7116
Daily SMA50	0.7106
Daily SMA100	0.7122
Daily SMA200	0.7178

Levels
Previous Daily High	0.7062
Previous Daily Low	0.7037
Previous Weekly High	0.7155
Previous Weekly Low	0.6988
Previous Monthly High	0.7168
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7052
Daily Fibonacci 61.8%	0.7047
Daily Pivot Point S1	0.7042
Daily Pivot Point S2	0.7027
Daily Pivot Point S3	0.7017
Daily Pivot Point R1	0.7067
Daily Pivot Point R2	0.7077
Daily Pivot Point R3	0.7092

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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