AUD/USD Technical Analysis: Repeated bounces off 50% Fibo. can recall 0.7140 as a quote

The AUD/USD pair trades near 0.7100 while heading towards Friday’s European session.
The pair has been falling short to decline beneath 50% Fibonacci retracement of its December 2018 – January 2019 drop, which in turn signal brighter chance of its pullback to 0.7120 immediate resistance.
Should prices manage to clear 0.7120, 61.8% Fibonacci retracement level of 0.7140 and 0.7160 comprising 100-day simple moving average (SMA) could gain market attention.
Additionally, pair’s sustained trading past-0.7160 enables it to aim for 0.7200 mark ahead of targeting the 200-day SMA level of 0.7210.
On the contrary, pair’s dip beneath 0.7055 nearby support could recall 0.7030 and 0.7000 on the chart.
However, 38.2% Fibonacci retracement near 0.6980 could limit the pair’s declines under 0.7000, if not then 0.6910 and 0.6830 might come to market’s focus.

Anil Panchal FXStreet

AUD/USD daily chart

Additional important levels

Overview
Today last price	0.7095
Today Daily Change	22 pips
Today Daily Change %	0.31
Today daily open	0.7073

Trends
Daily SMA20	0.7082
Daily SMA50	0.7123
Daily SMA100	0.7153
Daily SMA200	0.721

Levels
Previous Daily High	0.7107
Previous Daily Low	0.7063
Previous Weekly High	0.7168
Previous Weekly Low	0.7057
Previous Monthly High	0.7285
Previous Monthly Low	0.7053
Daily Fibonacci 38.2%	0.708
Daily Fibonacci 61.8%	0.709
Daily Pivot Point S1	0.7055
Daily Pivot Point S2	0.7037
Daily Pivot Point S3	0.7011
Daily Pivot Point R1	0.7099
Daily Pivot Point R2	0.7125
Daily Pivot Point R3	0.7143

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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