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AUD/USD Technical Analysis: Bulls take breather amid overbought conditions on hourly charts

   •  The pair built on last week's strong recovery from almost a decade low and was now seen grinding higher along an intraday ascending trend-channel formation.

AUD/USD 5-mins. chart

   •  Friday's sustained move beyond 100/200-hour SMAs, followed by a golden cross - 50-hour SMA crossing over the 200-hour SMA, fueled technical buying on Monday.

   •  Meanwhile, technical indicators on the daily chart have just started gaining positive momentum and support prospects for an extension of the positive momentum. 

   •  Meanwhile, oscillators on hourly charts are already pointing to slightly overbought conditions and might turn out to be the only factor keeping a lid on any strong up-move.

1-hourly chart

AUD/USD

Overview:
    Today Last Price: 0.7136
    Today Daily change: 20 pips
    Today Daily change %: 0.281%
    Today Daily Open: 0.7116
Trends:
    Previous Daily SMA20: 0.7104
    Previous Daily SMA50: 0.7184
    Previous Daily SMA100: 0.7185
    Previous Daily SMA200: 0.7344
Levels:
    Previous Daily High: 0.7125
    Previous Daily Low: 0.6993
    Previous Weekly High: 0.7125
    Previous Weekly Low: 0.6684
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Previous Daily Fibonacci 38.2%: 0.7075
    Previous Daily Fibonacci 61.8%: 0.7043
    Previous Daily Pivot Point S1: 0.7031
    Previous Daily Pivot Point S2: 0.6946
    Previous Daily Pivot Point S3: 0.6899
    Previous Daily Pivot Point R1: 0.7163
    Previous Daily Pivot Point R2: 0.721
    Previous Daily Pivot Point R3: 0.7295

 

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