#AUDUSD @ 0.67865 renews three-week high inside two-month-old ascending trend channel., @nehcap view: Further upside expected (Pivot Orderbook analysis)

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• AUD/USD renews three-week high inside two-month-old ascending trend channel.
• Bullish MACD signals, upbeat RSI keeps buyers hopeful of crossing 100-DMA hurdle.
• Sellers remain off the table unless witnessing daily close beyond 0.6600.

The pair currently trades last at 0.67865.

The previous day high was 0.6757 while the previous day low was 0.6689. The daily 38.2% Fib levels comes at 0.6731, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6715, expected to provide support.

AUD/USD stays on the bids for the sixth consecutive day as it refreshes a three-week high near 0.6785 during early Monday in Europe. In doing so, the Aussie pair prods the 100-DMA hurdle inside an upward-sloping trend channel comprising multiple levels marked since March.

Given the bullish MACD signals and upbeat RSI (14) line, not overbought, the AUD/USD buyers are likely to cross the immediate hurdle surrounding 0.6790, comprising the 100-DMA.

However, likely overbought conditions around the 0.6800 round figure and the top line of the stated bullish channel, close to 0.6810 at the latest, can challenge the AUD/USD bulls afterward.

Should the Aussie pair buyers keep the reins past 0.6810, 0.6855 and 0.6900 will precede the mid-February’s peak of around 0.7030 to challenge the pair buyers.

On the contrary, the 50% Fibonacci retracement level of the pair’s run-up from October 2022 to February 2023, near 0.6660, can challenge the AUD/USD bears.

Following that, the stated channel’s bottom line of around 0.6600 and the 61.8% Fibonacci retracement level of near 0.6545, also known as the golden Fibonacci ratio, may prod the Aussie pair sellers before giving them control.

Overall, AUD/USD remains on the bull’s radar even if the upside remains long and bumpy.

Trend: Further upside expected

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6782 at the time of writing. Pair opened at 0.6749 and is trading with a change of 0.49% % .

The pair is trading above its 20 Daily moving average @ 0.6681, above its 50 Daily moving average @ 0.6684 , below its 100 Daily moving average @ 0.6788 and above its 200 Daily moving average @ 0.6729

The previous day high was 0.6757 while the previous day low was 0.6689. The daily 38.2% Fib levels comes at 0.6731, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6715, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6707, 0.6664, 0.6639
• Pivot resistance is noted at 0.6774, 0.6799, 0.6842

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