AUD/USD technical analysis: Sticks to modest gains, around 0.6900 handle ahead of NFP

Bulls seemed struggling to extend the uptick beyond the 0.6900 handle.
The downtick remains cushioned ahead of the US monthly jobs report.

Haresh Menghani FXStreet

The AUD/USD pair struggled to capitalize on the early uptick, albeit has still managed to hold its neck above a previous resistance breakpoint, now turned support near the 0.6880-90 zone. The mentioned region coincides with the 50% Fibonacci level of the 0.7082-0.6671 downfall and should act as a key pivotal point for intraday traders.

Meanwhile, technical indicators on the daily chart have just started gaining positive traction and support prospects for a further near-term appreciating move. However, oscillators on hourly charts have been losing momentum and thus, warrant some caution ahead of the release of the closely watched US monthly jobs report – NFP.

Should bulls fail to defend the said support, the pair is likely to slide back towards the 0.6820 region – nearing 38.2% Fibo. level – en-route the 0.6800 round-figure mark. The slide could further get extended towards 23.6% Fibo. level, around the 0.6770-65 region, before the pair eventually drops towards challenging the 0.6700 handle.

On the flip side, bulls are likely to wait for a sustained move beyond the 0.6930 region (61.8% Fibo.), above which the pair seems all set to surpass the very important 200-day SMA hurdle near the 0.6960 region and aim towards reclaiming the 0.70 psychological mark ahead of the 0.7030-35 supply zone.

AUD/USD daily chart

AUD/USD

Overview
Today last price	0.6902
Today Daily Change	0.0008
Today Daily Change %	0.12
Today daily open	0.6894

Trends
Daily SMA20	0.6809
Daily SMA50	0.6796
Daily SMA100	0.685
Daily SMA200	0.6957

Levels
Previous Daily High	0.693
Previous Daily Low	0.6883
Previous Weekly High	0.6884
Previous Weekly Low	0.6808
Previous Monthly High	0.693
Previous Monthly Low	0.667
Daily Fibonacci 38.2%	0.6901
Daily Fibonacci 61.8%	0.6912
Daily Pivot Point S1	0.6875
Daily Pivot Point S2	0.6855
Daily Pivot Point S3	0.6828
Daily Pivot Point R1	0.6922
Daily Pivot Point R2	0.6949
Daily Pivot Point R3	0.6969

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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