AUD/USD Technical Analysis: Bears await a sustained break through 0.7070-65 horizontal support
• The pair continued with its struggle to make it through the 50-hour SMA hurdle, albeit the downside remained supported near the 0.7070-65 region.
• Technical indicators on hourly/daily charts have struggled to recover from the negative territory and support prospects for an eventual bearish breakdown.
• Moreover, the fact that pair remains well below important intraday moving averages – 50, 100 & 200-hour SMA, further reinforce the near-term negative outlook.
• Bearish traders, however, are likely to wait for a sustained break through the mentioned support before placing aggressive bets ahead of Wednesday's GDP print.
AUD/USD 1-hourly chart
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AUD/USD
Overview:
Today Last Price: 0.708
Today Daily change %: -0.16%
Today Daily Open: 0.7091
Trends:
Daily SMA20: 0.7124
Daily SMA50: 0.7134
Daily SMA100: 0.7164
Daily SMA200: 0.725
Levels:
Previous Daily High: 0.7118
Previous Daily Low: 0.7074
Previous Weekly High: 0.7199
Previous Weekly Low: 0.7069
Previous Monthly High: 0.7285
Previous Monthly Low: 0.7053
Daily Fibonacci 38.2%: 0.7091
Daily Fibonacci 61.8%: 0.7101
Daily Pivot Point S1: 0.7071
Daily Pivot Point S2: 0.7051
Daily Pivot Point S3: 0.7027
Daily Pivot Point R1: 0.7114
Daily Pivot Point R2: 0.7138
Daily Pivot Point R3: 0.7158