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AUD/USD Technical Evaluation: 0.7070 good points sellers consideration

AUD/USD each day chart

  • The AUD/USD pair trades close to 0.7110 round early Asian classes on Friday.
  • The quote took a U-turn from 50-day and 100-day easy shifting averages (SMA) on Thursday.
  • Whereas a number of lows from mid-February to March begin affords fast assist to the pair at 0.7070, 50% Fibonacci retracement of its December – January drop, at 0.7060, might problem sellers then after.
  • Given the extra declines beneath 0.7060, 0.7030, 0.7000 and a descending trend-line becoming a member of 38.2% Fibonacci at 0.6980 appear essential for bears.
  • In the meantime, 50-day SMA stage of 0.7130 and 100-day SMA stage of 0.7160 can restrict the pair’s near-term upside.
  • Ought to the pair clears 0.7160, 0.7200 might turn out to be patrons’ favourite forward of pushing them in the direction of 200-day SMA stage of 0.7220.

 

AUD/USD 4-Hour chart

  • Quick-term symmetrical triangle confines the pair strikes between 0.7070 and 0.7165 with further support-line at 0.7060 performing as small follow-on relaxation.
  • 50% Fibonacci retracement of January 31 to March 08 downturn at 0.7150 can present an intermediate halt between 0.7130 and 0.7150.

 

AUD/USD hourly chart

  • A horizontal line close to 0.7120 might limit the pair’s adjoining rise whereas 0.7095 appears the closest assist.

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