#AUDUSD @ 0.68170 consolidates last week’s gains above 0.6800. (Pivot Orderbook analysis)

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• AUD/USD consolidates last week’s gains above 0.6800.
• A quiet session across financial markets, Wall Street is closed.
• Key events ahead: FOMC minutes on Wednesday and NFP on Friday.

The pair currently trades last at 0.68170.

The previous day high was 0.6821 while the previous day low was 0.6753. The daily 38.2% Fib levels comes at 0.6795, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6779, expected to provide support.

The AUD/USD up marginally on Monday after posting on Friday, the highest daily close in almost three weeks above 0.6800. Price action remains limited on a quiet session for FX.

The pair is moving sideways on a small range amid low volume. It is trading at daily highs at 0.6818, slightly below last week’s high of 0.6820. Earlier it bottomed at 0.6792.

Risks look biased to the upside in the short term. The Aussie faces initial resistance at 0.6820 and then at 0.6845. On the flip side, the first support stands at 0.6770. A key dynamic support stands at 0.6705, a short-term uptrend line; a break lower would point to further losses.

Wall Street is closed on Monday. Markets will return to normal on Tuesday after two weeks of subdue action.

On Tuesday the S&P Global Manufacturing PMI for December is due in Australia and in the US. On Wednesday the US will release the ISM Manufacturing and the Federal Reserve the FOMC December meeting minutes. The key report of the week will be on Friday, the US official employment report. Non-farm payrolls are expected to slow down to 200K in December from 263K of November.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6813 at the time of writing. Pair opened at 0.6808 and is trading with a change of 0.07 % .

The pair is trading above its 20 Daily moving average @ 0.6738, above its 50 Daily moving average @ 0.6645 , above its 100 Daily moving average @ 0.6642 and below its 200 Daily moving average @ 0.6863

The previous day high was 0.6821 while the previous day low was 0.6753. The daily 38.2% Fib levels comes at 0.6795, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6779, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6767, 0.6726, 0.6698
• Pivot resistance is noted at 0.6835, 0.6863, 0.6904

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