#AUDUSD @ 0.66814 US Dollar mixed on a relatively quiet Monday. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER 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_level1)]

• US Dollar mixed on a relatively quiet Monday.
• Key events ahead: Australia CPI on Wednesday and US Q1 GDP on Thursday.
• AUD/USD weakens, but losses are limited on low volume.

The pair currently trades last at 0.66814.

The previous day high was 0.6754 while the previous day low was 0.6678. The daily 38.2% Fib levels comes at 0.6707, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6725, expected to provide resistance.

The AUD/USD is falling on Monday for the second day in a row, consolidating below 0.6700. In a quiet session, the US Dollar is mixed and equity prices in Wall Street are falling modestly.

Data released on Monday showed the important Chicago Fed National Activity Index remained unchanged in March at -0.19, and the Dallas Fed Manufacturing Index came in at -23.4 well below the -15.7 of market consensus. The numbers had no significant impact on subdued markets. US yields are falling modestly weighing on the Greenback.

The key event in the US will be on Thursday with growth numbers from the first quarter. No Federal Reserve officials will speak this week ahead of the FOMC May 2-3 meeting.

In Australia, the critical report will be on Wednesday, with Q1 and March Consumer Price Index, the last crucial report ahead of next week’s Reserve Bank of Australia (RBA) meeting. At the moment, the odds favor a new pause from the RBA.

Technically the outlook for the Aussie has worsened after the AUD/USD dropped below the 20-day Simple Moving Average (SMA). The pair bottomed on Monday at 0.6665 and then rebounded modestly. The key support is the 0.6630 area, ahead of the March low at 0.6618. A recovery above 0.6700 should strengthen the Aussie, with the next resistance at 0.6740.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6681 at the time of writing. Pair opened at 0.669 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 @ 0.6704, 50 SMA 0.6727, 100 SMA @ 0.6798 and 200 SMA @ 0.6743.

The previous day high was 0.6754 while the previous day low was 0.6678. The daily 38.2% Fib levels comes at 0.6707, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6725, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6661, 0.6631, 0.6585
• Pivot resistance is noted at 0.6737, 0.6783, 0.6812

[/s2If]
Nehcap EA FIX downloadThe NEHCAP EA is high quality professional trading system geared to generate returns without using GRID or martingales.Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.The system is trading live: LIVE ACCOUNT TRACKING Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group