AUD/USD Technical Analysis: Trapped in a falling channel on 15-min chart ahead of China trade data

  • Trapped in a falling channel on the 15-minute chart, the AUD/USD is currently trading at 0.7268.
  • A break above the upper edge of the channel would validate yesterday's bullish close above the 100-day exponential moving average (EMA) and could yield a convincing move above 0.73.  
  • A downside break could yield a deeper pullback to the ascending 5-day EMA, currently at 0.7236. The pullback, however, could be short-lived as the 5-, 10-day EMAs are trending north and the 14-day RSI is printing bullish above 50.00.
  • A better-than-expected China trade surplus may boost risk appetite and lift the AUD well above the falling channel resistance. A sustained rally, however, could be seen if the details reveal a sharp rise iron ore and copper imports (two of Australia's top exports).

15-minute chart

Trend: Neutral


    Last Price: 0.7269
    Daily change: -9.0 pips
    Daily change: -0.124%
    Daily Open: 0.7278
    Daily SMA20: 0.7129
    Daily SMA50: 0.716
    Daily SMA100: 0.7267
    Daily SMA200: 0.7478
    Daily High: 0.7302
    Daily Low: 0.7213
    Weekly High: 0.726
    Weekly Low: 0.705
    Monthly High: 0.724
    Monthly Low: 0.702
    Daily Fibonacci 38.2%: 0.7268
    Daily Fibonacci 61.8%: 0.7247
    Daily Pivot Point S1: 0.7227
    Daily Pivot Point S2: 0.7175
    Daily Pivot Point S3: 0.7138
    Daily Pivot Point R1: 0.7316
    Daily Pivot Point R2: 0.7354
    Daily Pivot Point R3: 0.7405


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