AUD/USD Price Analysis: 200-SMA challenges bounce from monthly low


  • AUD/USD struggles to keep rebound from two-week low amid RSI recovery from oversold region.
  • Weekly resistance line adds to the upside filters.

AUD/USD stays depressed around monthly low, up 0.05% intraday around 0.7320, despite the latest corrective pullback during early Wednesday.

Although nearly oversold RSI conditions triggered the AUD/USD bounce, 200-SMA around 0.7330 guards the quote’s immediate upside.

Even if the AUD/USD prices cross the 0.7330 hurdle, a descending resistance line from September 07 near 0.7360 will be the key watch as it holds the gate for the further recovery moves to target the monthly peak of 0.7478.

Meanwhile, 50% and 61.8% Fibonacci retracement levels of late August to early September upside, respectively around 0.7290 and 0.7245, could lure the AUD/USD sellers during fresh selling below the latest trough near the 0.7300 threshold.

In a case where AUD/USD remains pressured below 0.7245, the August 22 low near 0.7220 acts as an extra filter during the fall to the August month’s bottom close to 0.7100.

AUD/USD: Four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.7321
Today Daily Change 0.0002
Today Daily Change % 0.03%
Today daily open 0.7319
 
Trends
Daily SMA20 0.7313
Daily SMA50 0.7355
Daily SMA100 0.7521
Daily SMA200 0.7608
 
Levels
Previous Daily High 0.7374
Previous Daily Low 0.7312
Previous Weekly High 0.7469
Previous Weekly Low 0.7345
Previous Monthly High 0.7427
Previous Monthly Low 0.7106
Daily Fibonacci 38.2% 0.7336
Daily Fibonacci 61.8% 0.7351
Daily Pivot Point S1 0.7297
Daily Pivot Point S2 0.7274
Daily Pivot Point S3 0.7235
Daily Pivot Point R1 0.7358
Daily Pivot Point R2 0.7397
Daily Pivot Point R3 0.742

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds above 1.1700 but the upside is limited

The EUR/USD pair flirted with 1.1750 but was unable to retain its modest intraday gains. Now trading in the 1.1720 price zone, bears retain control ahead of the US central bank monetary policy decision.

EUR/USD News

GBP/USD: Pressure mounts ahead of central banks’ announcements

The Fed and the BoE will make announcements this week. UK public inflation expectations are up for this year and the upcoming ones. GBP/USD is technically bearish in the near term, poised to retest August monthly low.

GBP/USD News

Gold: Further advances depend on the Fed

A better market mood put pressure on the American currency. The US Federal Reserve will announce its monetary policy decision on Wednesday. Gold advanced for a second day in a row, but additional gains are in doubt.

Gold News

Shiba Inu bulls can't hold SHIB from dropping to $0.000006

Shiba Inu price has fallen -28% over the past four trading sessions. Bears remain in control as bulls fail to complete a breakout above $0.000008. Bulls must hold $0.000007 to prevent a drop towards $0.000006.

Read more

Fed Preview: Three ways in which Powell could down the dollar, and none is the dot-plot

No taper now, but when? That is the main question for the Fed in its all-important September meeting. The bank buys $120B worth of bonds every month and it is set to reduce the pace at some point – the first step toward raising interest rates. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures