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AUD/USD Price Analysis: 10-DMA probes bears around 0.7500

  • AUD/USD struggles to keep the rebound after confirming rising wedge bearish formation.
  • MACD signals ease bullish bias, September’s top add to downside filters.

AUD/USD bears take a breather following Friday’s Rising Wedge confirmation, down 0.10% intraday around 0.7510 heading into Monday’s European session.

Although the receding bullish MACD signals joined rising wedge breakdown to favor the Aussie pair the previous day, the 10-DMA level of 0.7500 challenges the quote’s immediate downside.

Hence, the quote remains sidelined until breaking either the previous support line, near 0.7545, or the 10-DMA level of 0.7500.

However, market sentiment improves of late, suggesting the further intraday recovery moves of the AUD/USD prices, due to its risk barometer status.

Meanwhile, a downside break of the 0.7500 DMA support needs validation from September’s peak surrounding 0.7475-80 to convince the Aussie bears.

To sum up, AUD/USD bulls seemed to have tired and the bears are ready to retake controls but a daily closing below 10-DMA becomes necessary for the clear south-run.

AUD/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price0.7511
Today Daily Change-0.0006
Today Daily Change %-0.08%
Today daily open0.7517
 
Trends
Daily SMA200.7414
Daily SMA500.7348
Daily SMA1000.7389
Daily SMA2000.7558
 
Levels
Previous Daily High0.7546
Previous Daily Low0.75
Previous Weekly High0.7557
Previous Weekly Low0.7463
Previous Monthly High0.7557
Previous Monthly Low0.7191
Daily Fibonacci 38.2%0.7518
Daily Fibonacci 61.8%0.7528
Daily Pivot Point S10.7496
Daily Pivot Point S20.7475
Daily Pivot Point S30.745
Daily Pivot Point R10.7542
Daily Pivot Point R20.7567
Daily Pivot Point R30.7588

Author

Anil Panchal

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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