#AUDUSD @ 0.67833 remains firmer at the highest levels in seven weeks, mildly bid of late., @nehcap view: Limited upside expected (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• AUD/USD remains firmer at the highest levels in seven weeks, mildly bid of late.
• 1.5-month-old ascending trend line, 200-EMA challenges Aussie buyers.
• Pullback moves can aim for 100-EMA but ascending support line from March becomes crucial for bear’s conviction.

The pair currently trades last at 0.67833.

The previous day high was 0.6797 while the previous day low was 0.6685. The daily 38.2% Fib levels comes at 0.6754, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6728, expected to provide support.

AUD/USD clings to mild gains at the highest level in seven weeks, marked the previous day, making rounds to 0.6780-90 during early Friday. In doing so, the Aussie pair prints a four-day winning streak while justifying the bullish signals from the MACD indicator.

However, an upward-sloping resistance line from early March, near the 0.6800 round figure, guards the immediate run-up of the AUD/USD pair.

Following that, the 200-day Exponential Moving Average (EMA) level of around 0.6810 will be crucial for the Aussie buyers to tackle if they wish to keep the reins.

It’s worth noting that the RSI (14) line still has some gap before it hits the overbought territory, which in turn suggests the AUD/USD pair’s limited upside room.

In a case where the quote rises past 0.6810, the 0.7000 round figure and a mid-February high of around 0.7030 will be in the spotlight.

On the contrary, the 100-EMA level of 0.6760 can restrict pullback moves of the AUD/USD pair, a break of which can recall the 0.6700 psychological magnet to the chart.

Even so, the Aussie pair buyers should remain hopeful unless the quote offers a daily closing below a five-week-old ascending support line, close to 0.66303 at the latest.

Trend: Limited upside expected

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6789 at the time of writing. Pair opened at 0.678 and is trading with a change of 0.13% % .

The pair is trading above its 20 Daily moving average @ 0.6695, above its 50 Daily moving average @ 0.6752 , below its 100 Daily moving average @ 0.68 and above its 200 Daily moving average @ 0.6745

The previous day high was 0.6797 while the previous day low was 0.6685. The daily 38.2% Fib levels comes at 0.6754, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6728, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6711, 0.6643, 0.66
• Pivot resistance is noted at 0.6823, 0.6865, 0.6934

[/s2If]
Join Our Telegram Group