#AUDUSD @ 0.68141 grinds higher after refreshing multi-day top, firmer during three-day uptrend., @nehcap view: Further upside expected (Pivot Orderbook analysis)

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• AUD/USD grinds higher after refreshing multi-day top, firmer during three-day uptrend.
• Convergence of previous resistance line, 61.8% Fibonacci retracement restricts downside.
• September’s high, 200-DMA lure buyers amid firmer oscillators.

The pair currently trades last at 0.68141.

The previous day high was 0.6801 while the previous day low was 0.667. The daily 38.2% Fib levels comes at 0.6751, expected to provide support. Similarly, the daily 61.8% fib level is at 0.672, expected to provide support.

AUD/USD juggles around 0.6810 heading into Thursday’s European session, after rising to the highest levels since September 13 earlier in the day.

That said, the Aussie pair prints a three-day uptrend as bulls cheer the previous day’s run-up beyond the downward-sloping resistance line from the mid-September, as well as the 61.8% Fibonacci retracement level of the pair’s August-October upside, surrounding 0.6770.

Also keeping the buyers hopeful are the bullish MACD signals and the firmer RSI (14), not overbought.

As a result, the AUD/USD bulls are on the way to approaching the next key hurdle to the north, namely September’s high surrounding 0.6915.

However, the RSI line is near the overbought conditions and may challenge the bull’s upside past 0.6915, if not then the 200-DMA resistance of 0.6925 could restrict the Aussie pair’s further advances.

Meanwhile, a downside break of the 0.6770 support confluence isn’t an open welcome to the AUD/USD bears as a three-week-old horizontal support zone near 0.6580 could restrict the pair’s further declines.

In a case where the quote drops below 0.6580, an ascending trend line from October 13, near 0.6410 acts as the last defense of the bulls.

Trend: Further upside expected

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6808 at the time of writing. Pair opened at 0.6788 and is trading with a change of 0.29% % .

The pair is trading above its 20 Daily moving average @ 0.6634, above its 50 Daily moving average @ 0.6491 , above its 100 Daily moving average @ 0.6687 and below its 200 Daily moving average @ 0.6928

The previous day high was 0.6801 while the previous day low was 0.667. The daily 38.2% Fib levels comes at 0.6751, expected to provide support. Similarly, the daily 61.8% fib level is at 0.672, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6705, 0.6622, 0.6575
• Pivot resistance is noted at 0.6836, 0.6884, 0.6966

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