#AUDUSD @ 0.65407 Australian Dollar rises modestly against the US dollar on a quiet Monday. (Pivot Orderbook analysis)
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- Australian Dollar rises modestly against the US dollar on a quiet Monday.
- Although AUD/USD maintains a negative tone, it gained some support in the short term.
The pair currently trades last at 0.65407.
The previous day high was 0.6544 while the previous day low was 0.649. The daily 38.2% Fib levels comes at 0.6524, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6511, expected to provide support.
On Monday, the AUD/USD made a modest gain, moving away from the six-month low it reached last Friday below 0.6500. In a quiet session, with American markets closed, the pair peaked at 0.6553, the highest level since Wednesday, before pulling back to 0.6530.
The US Dollar is posting mixed results across the board, amid low trading volume. Market participants continue to digest last week’s US consumer inflation data and closely follow developments around the debt ceiling drama.
On Tuesday, Australia is expected to report a 2% increase in Building Permits for April. Next week, the Reserve Bank of Australia will hold its monetary policy meeting.
The pair’s trend continues to be to the downside, but in the short-term, the rebound pushed the price above the 20-period Simple Moving Average (SMA) in the 4-hour charts, currently at 0.6525. While above this level, the Australian Dollar could continue to consolidate, while a slide below, would expose 0.6500 and the recent lows.
If the AUD/USD manages to consolidate above 0.6555, it could strengthen for an extension of the recovery. The next resistance stands at 0.6580, followed by 0.6600.
Technical levels
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6536 at the time of writing. Pair opened at 0.6514 and is trading with a change of 0.34 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6536 |
| 1 | Today Daily Change | 0.0022 |
| 2 | Today Daily Change % | 0.3400 |
| 3 | Today daily open | 0.6514 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.666, 50 SMA 0.6677, 100 SMA @ 0.6774 and 200 SMA @ 0.6704.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6660 |
| 1 | Daily SMA50 | 0.6677 |
| 2 | Daily SMA100 | 0.6774 |
| 3 | Daily SMA200 | 0.6704 |
The previous day high was 0.6544 while the previous day low was 0.649. The daily 38.2% Fib levels comes at 0.6524, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6511, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.6489, 0.6463, 0.6435
- Pivot resistance is noted at 0.6542, 0.657, 0.6596
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6544 |
| Previous Daily Low | 0.6490 |
| Previous Weekly High | 0.6668 |
| Previous Weekly Low | 0.6490 |
| Previous Monthly High | 0.6806 |
| Previous Monthly Low | 0.6574 |
| Daily Fibonacci 38.2% | 0.6524 |
| Daily Fibonacci 61.8% | 0.6511 |
| Daily Pivot Point S1 | 0.6489 |
| Daily Pivot Point S2 | 0.6463 |
| Daily Pivot Point S3 | 0.6435 |
| Daily Pivot Point R1 | 0.6542 |
| Daily Pivot Point R2 | 0.6570 |
| Daily Pivot Point R3 | 0.6596 |
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