AUD/USD Price Analysis: 0.7060/65 support confluence probes pullback to 0.7100

AUD/USD steps back from the key EMAs while attacking the 0.7100 threshold.
Bearish MACD favors sellers to revisit 100-day EMA, an ascending trend line from June.

Anil Panchal FXStreet

AUD/USD drops to 0.7100, down 0.32% intraday, during the early Thursday. In doing so, the pair consolidates the biggest gains in two weeks while taking a U-turn from 21-day and 50-day EMAs amid the bearish MACD signals.

Hence, sellers are likely to revisit the joint of a multi-day-old support line and the key EMA around 0.7065/60 during the further downside.

However, AUD/USD weakness below 0.7060 will direct bears towards the 0.7000 psychological magnet.

Meanwhile, an upside clearance of the 0.7135/45 area comprising the aforementioned EMAs will have to cross a falling trend line from September 01, at 0.7185 now, to recall the bulls.

In doing so, the AUD/USD traders can aim for the monthly top of 0.7244 while also eyeing to clear the 0.7200 round-figure intermediate resistance.

AUD/USD daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.7101
Today Daily Change	-16 pips
Today Daily Change %	-0.22%
Today daily open	0.7117

Trends
Daily SMA20	0.7128
Daily SMA50	0.72
Daily SMA100	0.7103
Daily SMA200	0.6792

Levels
Previous Daily High	0.7137
Previous Daily Low	0.7046
Previous Weekly High	0.7242
Previous Weekly Low	0.7055
Previous Monthly High	0.7414
Previous Monthly Low	0.7004
Daily Fibonacci 38.2%	0.7102
Daily Fibonacci 61.8%	0.7081
Daily Pivot Point S1	0.7063
Daily Pivot Point S2	0.7009
Daily Pivot Point S3	0.6972
Daily Pivot Point R1	0.7154
Daily Pivot Point R2	0.7191
Daily Pivot Point R3	0.7245

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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