AUD/USD Technical Analysis: Poised to surpass the 0.7400 handle and test 200-day SMA
• The pair's intraday retracement found some dip-buying interest near last week's swing high resistance break-point, now turned support, around the 0.7350-45 region.
• Technical indicators on hourly charts have already cooled off from overbought conditions and maintain their bullish bias on the daily chart, pointing to a bullish set-up.
• Hence, the pair seems more likely to aim towards surpassing the 0.7400 handle and test the very important 200-day SMA for the first time since mid-March, nearly nine months.
• Any subsequent up-move is likely to pause near the 0.7450-60 congestion zone, nearing 38.2% Fibonacci retracement level of the 0.8136-0.7021 late-Jan. to late-Oct. downfall.
AUD/USD daily chart
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AUD/USD
Overview:
Today Last Price: 0.738
Today Daily change: 71 pips
Today Daily change %: 0.971%
Today Daily Open: 0.7309
Trends:
Previous Daily SMA20: 0.7255
Previous Daily SMA50: 0.7181
Previous Daily SMA100: 0.7243
Previous Daily SMA200: 0.7423
Levels:
Previous Daily High: 0.7327
Previous Daily Low: 0.7284
Previous Weekly High: 0.7345
Previous Weekly Low: 0.7199
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.73
Previous Daily Fibonacci 61.8%: 0.7311
Previous Daily Pivot Point S1: 0.7286
Previous Daily Pivot Point S2: 0.7264
Previous Daily Pivot Point S3: 0.7243
Previous Daily Pivot Point R1: 0.7329
Previous Daily Pivot Point R2: 0.735
Previous Daily Pivot Point R3: 0.7372