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AUD/USD Technical Analysis: defends 61.8% Fib support despite weak data, revisits three-week highs

  • The AUD/USD pair revisited three-week highs near 0.7170 soon before press time, having defended the former resistance-turned-support of 0.7146 (61.8% Fib R of 0.7393/0.6744) earlier today, despite the weaker-than-expected Aussie building approvals figure.
  • A close today above that level would confirm a bearish-to-bullish trend change and open the doors to 0.7247 (Dec. 13 high).
  • Supporting the bullish case is the 14-day relative strength index (RSI) of 54.00 and the positive crossover between the 5- and 10-day moving averages (MAs).
  • Bullish pressures will likely weaken if the AUD violates the higher low of 0.7106.

Hourly Chart

Daily Chart

Trend: Bullish

AUD/USD

Overview:
    Today Last Price: 0.7163
    Today Daily change: 24 pips
    Today Daily change %: 0.336%
    Today Daily Open: 0.7139
Trends:
    Previous Daily SMA20: 0.7099
    Previous Daily SMA50: 0.7187
    Previous Daily SMA100: 0.7181
    Previous Daily SMA200: 0.7338
Levels:
    Previous Daily High: 0.7151
    Previous Daily Low: 0.7116
    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%: 0.7129
    Previous Daily Fibonacci 61.8%: 0.7138
    Previous Daily Pivot Point S1: 0.712
    Previous Daily Pivot Point S2: 0.71
    Previous Daily Pivot Point S3: 0.7085
    Previous Daily Pivot Point R1: 0.7155
    Previous Daily Pivot Point R2: 0.717
    Previous Daily Pivot Point R3: 0.719

 

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