AUD/USD Technical Analysis: Sellers continue to lurk ahead of 0.7095 trend-line resistance

While upbeat Australian business survey data propelled the Aussie during early Tuesday, the AUD/USD managed to post a day’s high near 0.7090 on the US President Donald Trump’s comments favoring a likely trade deal between the US and China.
However, the sellers continue to lurk ahead of the short-term descending trend-line resistance, at 0.7095, that connects highs marked since last Wednesday.
Should the pair cross 0.7095 barrier, its rise to 0.7140 horizontal-line can be expected whereas 0.7170 and a downward sloping resistance-line at 0.7205 may confine additional upside.
Alternatively, the 0.7065 and the recent low around 0.7050 seem to be the immediate supports for the pair, a break below which can drag the quote to 61.8% Fibonacci Expansion level of its latest pullback, at 0.7030.
In case, the bears manage to conquer 0.7030, 0.7000 and 0.6980 could become their next favorites.

Anil Panchal FXStreet

AUD/USD hourly chart

Important levels:

Overview:
    Today Last Price: 0.7082
    Today Daily change: 18 pips
    Today Daily change %: 0.25%
    Today Daily Open: 0.7064
Trends:
    Daily SMA20: 0.7168
    Daily SMA50: 0.7151
    Daily SMA100: 0.7167
    Daily SMA200: 0.728
Levels:
    Previous Daily High: 0.7109
    Previous Daily Low: 0.7057
    Previous Weekly High: 0.7265
    Previous Weekly Low: 0.706
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.7077
    Daily Fibonacci 61.8%: 0.7089
    Daily Pivot Point S1: 0.7044
    Daily Pivot Point S2: 0.7025
    Daily Pivot Point S3: 0.6992
    Daily Pivot Point R1: 0.7096
    Daily Pivot Point R2: 0.7129
    Daily Pivot Point R3: 0.7148

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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