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.

Anil Panchal FXStreet

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 price	0.7511
Today Daily Change	-0.0006
Today Daily Change %	-0.08%
Today daily open	0.7517

Trends
Daily SMA20	0.7414
Daily SMA50	0.7348
Daily SMA100	0.7389
Daily SMA200	0.7558

Levels
Previous Daily High	0.7546
Previous Daily Low	0.75
Previous Weekly High	0.7557
Previous Weekly Low	0.7463
Previous Monthly High	0.7557
Previous Monthly Low	0.7191
Daily Fibonacci 38.2%	0.7518
Daily Fibonacci 61.8%	0.7528
Daily Pivot Point S1	0.7496
Daily Pivot Point S2	0.7475
Daily Pivot Point S3	0.745
Daily Pivot Point R1	0.7542
Daily Pivot Point R2	0.7567
Daily Pivot Point R3	0.7588

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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