AUD/USD Price Analysis: 100-DMA challenges the recovery from 2021 lows


  • AUD/USD stages an impressive recovery from multi-month lows.
  • The aussie is struggling to recapture 100-DMA as RSI stays bearish.
  • All eyes remain on the NFP data amid a quiet Good Friday.

AUD/USD remains on the front foot for the third straight session, having recovered Thursday’s sell-off to four-month lows of 0.7531.

The 100-daily moving average (DMA) at 0.7635 is offering strong resistance to the AUD bulls, as they look to build on to the recovery moves beyond the 0.7600 barrier.

A firm break above the latter could expose the downward-sloping 21-DMA at 0.7685, with the next upside target aligned at 0.7700.

However, with the relative strength index (RSI) still trending below the midline, the recovery is likely to remain short-lived, as the sellers could regain control.

AUD/USD: Daily chart

A drop back towards the yearly lows cannot be ruled if the 100-DMA barrier fails to give way.

Further south, the 0.7500 support could be challenged, opening floors for a test of the December 21 low of 0.7461

AUD/USD: Additional levels

AUD/USD

Overview
Today last price 0.7630
Today Daily Change 0.0011
Today Daily Change % 0.14
Today daily open 0.7618
 
Trends
Daily SMA20 0.7687
Daily SMA50 0.7722
Daily SMA100 0.7634
Daily SMA200 0.7389
 
Levels
Previous Daily High 0.7621
Previous Daily Low 0.7531
Previous Weekly High 0.7758
Previous Weekly Low 0.7562
Previous Monthly High 0.785
Previous Monthly Low 0.7562
Daily Fibonacci 38.2% 0.7587
Daily Fibonacci 61.8% 0.7565
Daily Pivot Point S1 0.7559
Daily Pivot Point S2 0.75
Daily Pivot Point S3 0.7469
Daily Pivot Point R1 0.7649
Daily Pivot Point R2 0.768
Daily Pivot Point R3 0.7739

 

 

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