AUD/USD Technical Analysis: Aussie retakes 0.71 after bull RSI divergence on hourly
The AUD/USD pair is currently trading at 0.7108, having hit a three-week low of 0.7076. The uptick in the Asian stocks is likely boding well for the Aussie dollar.
Hourly chart
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- As seen above, the previous hourly candle closed just above 0.71, confirming a bullish divergence of the relative strength index (RSI).
- A break above 0.7115 would further bolster the bull RSI divergence and allow a rally to 0.7140.
- However, forcing a convincing break above 0.7115 is easier said than done for the bulls, given the rising odds of RBA rate cut.
Trend: neutral-to-bearish
AUD/USD
Overview:
Today Last Price: 0.7109
Today Daily change: 0.0016 pips
Today Daily change %: 0.23%
Today Daily Open: 0.7093
Trends:
Daily SMA20: 0.7128
Daily SMA50: 0.7175
Daily SMA100: 0.7169
Daily SMA200: 0.7304
Levels:
Previous Daily High: 0.7167
Previous Daily Low: 0.708
Previous Weekly High: 0.7226
Previous Weekly Low: 0.7146
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Daily Fibonacci 38.2%: 0.7113
Daily Fibonacci 61.8%: 0.7134
Daily Pivot Point S1: 0.706
Daily Pivot Point S2: 0.7026
Daily Pivot Point S3: 0.6973
Daily Pivot Point R1: 0.7147
Daily Pivot Point R2: 0.72
Daily Pivot Point R3: 0.7234