#AUDUSD @ 0.63292 renews intraday high while reversing the pullback from two-week top., @nehcap view: Further upside expected (Pivot Orderbook analysis)
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- AUD/USD renews intraday high while reversing the pullback from two-week top.
- Firmer MACD, RSI joins a sustained bounce off 200-HMA to favor bulls.
- Sellers need validation from 0.6250 to retake control.
The pair currently trades last at 0.63292.
The previous day high was 0.6393 while the previous day low was 0.621. The daily 38.2% Fib levels comes at 0.6323, expected to provide support. Similarly, the daily 61.8% fib level is at 0.628, expected to provide support.
AUD/USD picks up bids to refresh intraday high near 0.6330 during Tuesday’s Asian session. In doing so, the Aussie pair extends the previous day’s bounce off the 200-HMA while staying firmer inside a weekly bullish channel.
That said, the AUD/USD pair’s latest run-up aims for the 50% Fibonacci retracement level of October 04-13 downside, near 0.6360.
However, a convergence of the stated channel’s upper line and the 61.8% Fibonacci retracement, also known as the golden ratio, around 0.6410, appears a tough nut to crack for the pair buyers.
Should the quote rises past 0.6410, the 0.6500 round figure may act as a buffer during the anticipated run-up toward the monthly high of 0.6547.
Alternatively, pullback moves need to conquer the 200-HMA support of 0.6288 to convince intraday sellers of the AUD/USD.
Even so, the aforementioned bullish channel can challenge the bears unless the quote stays beyond 0.6250.
Following that, the yearly low of 0.6170 and the April 2020 bottom around 0.5980 will gain the market’s attention.
Overall, AUD/USD remains on the buyer’s radar unless breaking 0.6250. However, the upside room appears limited.
Trend: Further upside expected
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6329 at the time of writing. Pair opened at 0.6378 and is trading with a change of -0.77 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6329 |
| 1 | Today Daily Change | -0.0049 |
| 2 | Today Daily Change % | -0.7700 |
| 3 | Today daily open | 0.6378 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6373, 50 SMA 0.6639, 100 SMA @ 0.6789 and 200 SMA @ 0.701.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6373 |
| 1 | Daily SMA50 | 0.6639 |
| 2 | Daily SMA100 | 0.6789 |
| 3 | Daily SMA200 | 0.7010 |
The previous day high was 0.6393 while the previous day low was 0.621. The daily 38.2% Fib levels comes at 0.6323, expected to provide support. Similarly, the daily 61.8% fib level is at 0.628, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.6261, 0.6144, 0.6078
- Pivot resistance is noted at 0.6444, 0.651, 0.6627
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6393 |
| Previous Daily Low | 0.6210 |
| Previous Weekly High | 0.6393 |
| Previous Weekly Low | 0.6197 |
| Previous Monthly High | 0.6916 |
| Previous Monthly Low | 0.6363 |
| Daily Fibonacci 38.2% | 0.6323 |
| Daily Fibonacci 61.8% | 0.6280 |
| Daily Pivot Point S1 | 0.6261 |
| Daily Pivot Point S2 | 0.6144 |
| Daily Pivot Point S3 | 0.6078 |
| Daily Pivot Point R1 | 0.6444 |
| Daily Pivot Point R2 | 0.6510 |
| Daily Pivot Point R3 | 0.6627 |
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