AUD/USD technical analysis: Goodish intraday recovery pauses near 200-hour SMA

The AUD/USD pair held on to its goodish intraday recovery gains, albeit seemed struggling to extend the momentum further beyond 200-hour SMA.
Positive trade-related headlines turned out to be a key factor behind the short-covering bounce while a goodish pickup in the USD demand capped gains.

Haresh Menghani FXStreet

Given that technical indicators have just started gaining positive traction, a sustained move beyond the mentioned barrier now seems to set the stage for a bullish move towards reclaiming the 0.6800 round figure mark.

However, bearish oscillators on the daily chart held investors from placing aggressive bets and kept a lid on any further appreciating move, though the downside now seems limited amid improving global risk sentiment.

Hence, any dips back below the 0.6750-45 horizontal support might now be seen as a buying opportunity and help limit any meaningful downfall ahead of RBA Deputy Governor Guy Debelle’s speech on Tuesday.

On the upside, the 0.6800 handle remains a key barrier, which if cleared will be seen as a key trigger for bulls and accelerate the up-move towards an intermediate resistance near mid-0.6800s en-route the 0.6900 handle.

AUD/USD 1-hourly chart

AUD/USD

Overview
Today last price	0.6764
Today Daily Change	0.0010
Today Daily Change %	0.15
Today daily open	0.6754

Trends
Daily SMA20	0.6788
Daily SMA50	0.6901
Daily SMA100	0.6953
Daily SMA200	0.7049

Levels
Previous Daily High	0.6778
Previous Daily Low	0.6736
Previous Weekly High	0.68
Previous Weekly Low	0.6736
Previous Monthly High	0.7082
Previous Monthly Low	0.6832
Daily Fibonacci 38.2%	0.6752
Daily Fibonacci 61.8%	0.6762
Daily Pivot Point S1	0.6734
Daily Pivot Point S2	0.6713
Daily Pivot Point S3	0.6691
Daily Pivot Point R1	0.6776
Daily Pivot Point R2	0.6798
Daily Pivot Point R3	0.6819

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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