#AUDUSD @ 0.67539 picks up bids to refresh weekly high during three-day uptrend., @nehcap view: Further upside expected (Pivot Orderbook analysis)

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• AUD/USD picks up bids to refresh weekly high during three-day uptrend.
• A successful break of 50-SMA, one-week-old descending trend line favor buyers.
• Monthly support line, 61.8% Fibonacci Expansion level act as additional trading filters.

The pair currently trades last at 0.67539.

The previous day high was 0.6739 while the previous day low was 0.6634. The daily 38.2% Fib levels comes at 0.6699, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6674, expected to provide support.

AUD/USD takes the bids to renew weekly top around 0.6755 during early Thursday as buyers cheer a three-day uptrend.

In doing so, the Aussie pair cheers the previous day’s upside break of the 50-SMA and a downward-sloping trend line from November 17, respectively near 0.6690 and 0.6620.

Also keeping the pair buyers hopeful is the sustained trading beyond the previous resistance line from late October, as well as the 200-SMA, amid the bullish MACD signals.

That said, the AUD/USD buyers are well-positioned to challenge the monthly high of 0.6792 with eyes on 0.6800.

Following that, the 61.8% Fibonacci Expansion (FE) level surrounding 0.6840 could entertain the bulls before directing them to September’s peak of 0.6916.

Meanwhile, AUD/USD pullback remains elusive unless the quote provides a decisive break below the 50-SMA and the previous resistance line, close to 0.6690 and 0.6620 in that order.

Even so, a one-month-old ascending trend line near 0.6585 can challenge the AUD/USD bears.

In a case where the quote remains bearish past 0.6585, the odds of witnessing a south-run towards the 200-SMA level of 0.6455 can’t be ruled out.

Trend: Further upside expected

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.675 at the time of writing. Pair opened at 0.6739 and is trading with a change of 0.16% % .

The pair is trading above its 20 Daily moving average @ 0.6553, above its 50 Daily moving average @ 0.6487 , above its 100 Daily moving average @ 0.6691 and below its 200 Daily moving average @ 0.694

The previous day high was 0.6739 while the previous day low was 0.6634. The daily 38.2% Fib levels comes at 0.6699, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6674, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6669, 0.6599, 0.6565
• Pivot resistance is noted at 0.6774, 0.6808, 0.6878

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