13 Nov 2018
AUD/USD Technical Analysis: Eroding key trendline hurdle on yuan recovery
- The recovery in Chinese yuan has likely put a bid under most majors, including the Aussie dollar, lifting the AUD/USD pair to 0.72.
- The AUD/USD is currently chipping away at the trendline from Nov. 8 highs, as seen in the hourly chart.
- A convincing move above that trendline would mean that the pullback from the recent high of 0.7302 has ended and would open up upside toward 0.73.
- A drop below 0.7164 would signal a resumption of the sell-off from the Nov. 8 high of 0.7302.
Hourly chart
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Trend: Neutral-to-bullish
AUD/USD
Overview:
Last Price: 0.7192
Daily change: 10 pips
Daily change: 0.139%
Daily Open: 0.7182
Trends:
Daily SMA20: 0.7144
Daily SMA50: 0.716
Daily SMA100: 0.7261
Daily SMA200: 0.7466
Levels:
Daily High: 0.7239
Daily Low: 0.7181
Weekly High: 0.7304
Weekly Low: 0.7183
Monthly High: 0.724
Monthly Low: 0.702
Daily Fibonacci 38.2%: 0.7203
Daily Fibonacci 61.8%: 0.7217
Daily Pivot Point S1: 0.7162
Daily Pivot Point S2: 0.7143
Daily Pivot Point S3: 0.7104
Daily Pivot Point R1: 0.722
Daily Pivot Point R2: 0.7258
Daily Pivot Point R3: 0.7278