AUD/USD Technical Analysis: Still struggling to make it through the 0.7150 barrier

Haresh Menghani FXStreet

• The pair has been finding decent support near 100-hour SMA since the beginning of this week, albeit once again failed to build on the momentum beyond mid-0.7100s.

• Technical indicators on the mentioned chart are yet to catch up with the recent positive move and haven't been supportive of a possible short-term bullish break-out.

• Hence, it would be prudent to wait for a strong follow-through buying, beyond mid-0.7100s, before traders start positioning for any further near-term appreciating move.

• Alternatively, a convincing break through 100-hour SMA currently near the 0.7125 region, might turn the pair vulnerable to resume with its prior/well-established bearish trend.

AUD/USD 1-hourly chart

AUD/USD

Overview:
    Last Price: 0.7137
    Daily change: -4.0 pips
    Daily change: -0.0560%
    Daily Open: 0.7141
Trends:
    Daily SMA20: 0.7171
    Daily SMA50: 0.722
    Daily SMA100: 0.7333
    Daily SMA200: 0.7546
Levels:
    Daily High: 0.7152
    Daily Low: 0.7111
    Weekly High: 0.7141
    Weekly Low: 0.7041
    Monthly High: 0.7316
    Monthly Low: 0.7041
    Daily Fibonacci 38.2%: 0.7137
    Daily Fibonacci 61.8%: 0.7127
    Daily Pivot Point S1: 0.7118
    Daily Pivot Point S2: 0.7094
    Daily Pivot Point S3: 0.7077
    Daily Pivot Point R1: 0.7158
    Daily Pivot Point R2: 0.7175
    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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