#AUDUSD @ 0.68989 -imp levels: Aussie bulls look comfortable after establishing above the 50-EMA at 0.6894.

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• Aussie bulls look comfortable after establishing above the 50-EMA at 0.6894.
• The RSI (14) needs to shift into the bullish territory of 60.00-80.00 for a fresh rally.
• AUD/USD is marching towards the psychological resistance of 0.7000.

The pair currently trades last at 0.68989.

The previous day high was 0.701 while the previous day low was 0.6888. The daily 38.2% Fib levels comes at 0.6934, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6963, expected to provide resistance.

The AUD/USD pair is displaying a balanced profile after a meaningful pullback from Monday’s low near 0.6840. The asset is indicating signs of a squeeze in volatility amid a consolidation phase after failing to overstep the immediate hurdle of 0.6920.

On an hourly scale, the asset is hovering around the 38.2% Fibonacci retracement (placed from Aug 26 high at 0.7009 to Aug 29 low at 0.6841) at 0.6905. Earlier, the asset faced barricades around 50% Fibo retracement, which is placed near 0.6925.

The establishment of the asset above the 50-period Exponential Moving Average (EMA) at 0.6894, is bolstering conviction signs for a sheer upside ahead. However, the 20-EMA near 0.6903 is overlapping with the asset, which indicates a consolidation ahead.

Also, the Relative Strength Index (RSI) (14) is oscillating in a 40.00-60.00 range, which indicates that the asset is awaiting a potential trigger for further upside.

For more upside, a decisive move above 100-EMA at 0.6915 will drive the asset towards 61.8% Fibo retracement at 0.6945, followed by Aug 26 high at 0.7009.

Alternatively, a decline below 23.6% Fibo retracement near 0.6880 will drag the asset towards Aug 29 low at 0.6841. A downside move below the latter may drag the asset towards the round-level support at 0.6800.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6903 at the time of writing. Pair opened at 0.6912 and is trading with a change of -0.13 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.697, 50 SMA 0.6916, 100 SMA @ 0.7028 and 200 SMA @ 0.7133.

The previous day high was 0.701 while the previous day low was 0.6888. The daily 38.2% Fib levels comes at 0.6934, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6963, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6863, 0.6814, 0.6741
• Pivot resistance is noted at 0.6985, 0.7059, 0.7108

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