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.

Anil Panchal FXStreet

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

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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