AUD/USD Technical Analysis: Aussie runs into falling channel hurdle
The Reserve Bank of Australia (RBA) sounded relatively optimistic about the labor market, sending the Aussie dollar higher across the board.
As of writing, the AUD/USD pair is chipping away at the falling channel resistance at press time, having gained 60 pips in the last two hours.
4-hour chart
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As seen above, AUD/USD is trading at the channel resistance of 0.7262. A violation there would expose the 200-day moving average (MA), currently at 0.7295.
A repeated failure to beat the channel hurdle would weaken bullish pressures to some extent. The bears, however, would feel emboldened only blow the low of 0.72 seen before the RBA rate decision.
Trend: bullish
AUD/USD
Overview:
Today Last Price: 0.7262
Today Daily change: 37 pips
Today Daily change %: 0.51%
Today Daily Open: 0.7225
Trends:
Daily SMA20: 0.7183
Daily SMA50: 0.7169
Daily SMA100: 0.7174
Daily SMA200: 0.729
Levels:
Previous Daily High: 0.7255
Previous Daily Low: 0.721
Previous Weekly High: 0.7296
Previous Weekly Low: 0.7138
Previous Monthly High: 0.7296
Previous Monthly Low: 0.6684
Daily Fibonacci 38.2%: 0.7227
Daily Fibonacci 61.8%: 0.7238
Daily Pivot Point S1: 0.7205
Daily Pivot Point S2: 0.7185
Daily Pivot Point S3: 0.716
Daily Pivot Point R1: 0.725
Daily Pivot Point R2: 0.7275
Daily Pivot Point R3: 0.7295