AUD/USD Technical Analysis: trying to lock in 0.7100 after pushing off from 200-hour MA

The Aussie's intraday action for early Thursday sees a bump higher on a multi-year low for the Aussie Unemployment Rate, but the Participation Rate and Employment change figures leave something to be desired. Despite the mixed reading, AUD bulls are jumping on the opportunity to bid up the Aussie, and the pair is managing to hold onto the early session's intraday gains for the time being.
Long-side traders are piling up support just above the 200-hour moving average, looking to springboard back into the 0.7200 region as this week's high-side moves remain capped by 0.7150.
Despite a determined lift from last week's bottom at 0.7040, the higher candles show the Aussie struggling to maintain bullish momentum, and a failed break will see the pair dip back into the main bearish trend.

Joshua Gibson FXStreet

AUD/USD Chart, 1-Hour

AUD/USD

Overview:
    Last Price: 0.7122
    Daily change: 13 pips
    Daily change: 0.183%
    Daily Open: 0.7109
Trends:
    Daily SMA20: 0.7164
    Daily SMA50: 0.7213
    Daily SMA100: 0.7329
    Daily SMA200: 0.7542
Levels:
    Daily High: 0.7161
    Daily Low: 0.7106
    Weekly High: 0.7141
    Weekly Low: 0.7041
    Monthly High: 0.7316
    Monthly Low: 0.7041
    Daily Fibonacci 38.2%: 0.7127
    Daily Fibonacci 61.8%: 0.714
    Daily Pivot Point S1: 0.709
    Daily Pivot Point S2: 0.7071
    Daily Pivot Point S3: 0.7035
    Daily Pivot Point R1: 0.7145
    Daily Pivot Point R2: 0.718
    Daily Pivot Point R3: 0.7199

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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