AUD/USD Price Analysis: Bulls face rejection near 0.7750


 

  • AUD/USD consolidates gains below 0.7750 in early European session.
  • Pair seeks more downside if price breaks below 0.7710.
  • Momentum oscillator remains on oversold trajectory and warns against aggressive bets.

The AUD/USD pair maintains a muted tone and trades in a range-bound manner in the European session. The pair tracks the previous day’s subdued price action, accumulating 30-pip moves at a time.

At the time of writing, the AUD/USD pair is trading at 0.7744, up 0.019% on the day.

AUD/USD daily chart

On the daily chart, the pair has been consolidating gains above the 0.7730 level. The price is placed just above the 50-day Simple Moving Average (SMA) at 0.7712. If price breaks below the mentioned level, then the first stop would be Thursday's low at 0.7687.

The Moving Average Convergence Divergence (MACD) indicator reads above the midline with  bearish crossover. This suggests the price could correct further toward the 0.7650 horizontal support level followed by the April 14 lows at 0.7633.

Alternatively, if price makes a sustained move above the session’s high at 0.7747, then it could reach the previous day’s high at 0.7768 followed by the 0.7820 horizontal resistance level.

The next area of resistance would be the May 7 high at 0.7853 for bulls.

AUD/USD Additional Levels

AUD/USD

Overview
Today last price 0.7743
Today Daily Change 0.0014
Today Daily Change % 0.18
Today daily open 0.7729
 
Trends
Daily SMA20 0.7761
Daily SMA50 0.771
Daily SMA100 0.7721
Daily SMA200 0.7492
 
Levels
Previous Daily High 0.7769
Previous Daily Low 0.7688
Previous Weekly High 0.7863
Previous Weekly Low 0.7674
Previous Monthly High 0.7819
Previous Monthly Low 0.7531
Daily Fibonacci 38.2% 0.7738
Daily Fibonacci 61.8% 0.7719
Daily Pivot Point S1 0.7688
Daily Pivot Point S2 0.7647
Daily Pivot Point S3 0.7607
Daily Pivot Point R1 0.7769
Daily Pivot Point R2 0.781
Daily Pivot Point R3 0.785

 

 

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