#AUDUSD @ 0.67665 snaps two-day winning streak by taking U-turn from three-week-old horizontal resistance., @nehcap view: Limited downside expected (Pivot Orderbook analysis)

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• AUD/USD snaps two-day winning streak by taking U-turn from three-week-old horizontal resistance.
• Firmer RSI, bullish MACD signals join ascending trend channel to keep buyers hopeful.
• 200-SMA, two-month-old ascending support line adds to the downside filters.

The pair currently trades last at 0.67665.

The previous day high was 0.6781 while the previous day low was 0.6698. The daily 38.2% Fib levels comes at 0.6749, expected to provide support. Similarly, the daily 61.8% fib level is at 0.673, expected to provide support.

AUD/USD takes offers to renew intraday low near 0.6765 as traders await the key inflation numbers from China during early Friday.

In doing so, the Aussie pair reverses from a horizontal resistance area comprising multiple levels marked since November 15, between 0.6780 and 0.6790, to print the first daily loss in three. It’s worth noting that the quote is on the way to snapping a two-week uptrend on a weekly basis.

It’s worth noting, however, that the bullish MACD signals and firmer RSI joins a three-week-old ascending trend channel formation to keep AUD/USD buyers hopeful unless the quote stays beyond 0.6675 support.

Following that, the 200-SMA and an upward-sloping trend line from early October, respectively near 0.6610 and 0.6440, may lure the pair sellers.

Alternatively, AUD/USD buyers need a successful break of 0.6790, as well as sustained trading beyond the 0.6800 round figure to retake control.

Even so, the upper line of the stated channel, close to 0.6870 at the latest, will challenge the Aussie pair’s further upside.

Should the AUD/USD bulls manage to keep the reins past 0.6870, September’s high near 0.6915 will flash on their radar.

Trend: Limited downside expected

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.677 at the time of writing. Pair opened at 0.6772 and is trading with a change of -0.03% % .

The pair is trading above its 20 Daily moving average @ 0.672, above its 50 Daily moving average @ 0.6519 , above its 100 Daily moving average @ 0.6682 and below its 200 Daily moving average @ 0.6913

The previous day high was 0.6781 while the previous day low was 0.6698. The daily 38.2% Fib levels comes at 0.6749, expected to provide support. Similarly, the daily 61.8% fib level is at 0.673, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.672, 0.6668, 0.6638
• Pivot resistance is noted at 0.6803, 0.6833, 0.6885

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