AUD/USD Technical Analysis: Manages to hold above 0.7100 support, at least for the time being

Haresh Menghani FXStreet

• Despite overnight rejection from a short-term ascending trend-line resistance, the pair has managed to hold above an important horizontal support near the 0.7100 handle.

• Technical indicators on the 4-hourly chart have started losing positive momentum and now support prospects for an extension of the overnight retracement slide from over one-week tops.

• However, traders are likely to wait for a convincing break below the above-mentioned support before positioning for any further near-term depreciating move.

AUD/USD 4-hourly chart

AUD/USD

Overview:
    Last Price: 0.7123
    Daily change: 14 pips
    Daily change: 0.197%
    Daily Open: 0.7109
Trends:
    Daily SMA20: 0.7164
    Daily SMA50: 0.7213
    Daily SMA100: 0.7329
    Daily SMA200: 0.7542
Levels:
    Daily High: 0.7161
    Daily Low: 0.7106
    Weekly High: 0.7141
    Weekly Low: 0.7041
    Monthly High: 0.7316
    Monthly Low: 0.7041
    Daily Fibonacci 38.2%: 0.7127
    Daily Fibonacci 61.8%: 0.714
    Daily Pivot Point S1: 0.709
    Daily Pivot Point S2: 0.7071
    Daily Pivot Point S3: 0.7035
    Daily Pivot Point R1: 0.7145
    Daily Pivot Point R2: 0.718
    Daily Pivot Point R3: 0.7199

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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