• AUD/USD retreats from intraday top, stays up for the third consecutive day.
  • 100-SMA, previous support restricts short-term upside amid sluggish MACD.
  • 61.8% Fibonacci retracement lures sellers, bulls have multiple hurdles below 0.7300.

AUD/USD steps back from intraday high to 0.7185 heading into Tuesday’s European session. Even so, the Aussie pair prints a three-day uptrend by the press time.

AUD/USD portrays a Break-Pullback-Continuation (BPC) chart pattern on the four-hour play while observing Thursday’s rising wedge confirmation, followed by a corrective pullback from 50% Fibonacci retracement of December’s advances.

Given the recent U-turn from the previous resistance, the Aussie pair eyes further losses below the 0.7200 round figure, backed by receding bullish bias of the MACD signals.

That said, the latest swing low around 0.7140 acts as immediate support before the 61.8% Fibonacci retracement level around the 0.7100 threshold.

Adding to the downside filter is the December 20 bottom surrounding 0.7080, a break of which will make the quote vulnerable to aim for 2021 bottom near 0.6993.

It’s worth noting, however, that buyers will gain confidence on a clear upside break of the 0.7200 mark, comprising the 100-SMA and bearish wedge’s support line, now resistance.

Following that, the last monthly peak near 0.7275 and an upward sloping trend line from mid-December, close to 0.7315, will be in focus.

AUD/USD: Four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.719
Today Daily Change 0.0013
Today Daily Change % 0.18%
Today daily open 0.7177
 
Trends
Daily SMA20 0.7198
Daily SMA50 0.722
Daily SMA100 0.7287
Daily SMA200 0.7433
 
Levels
Previous Daily High 0.7203
Previous Daily Low 0.7148
Previous Weekly High 0.7278
Previous Weekly Low 0.713
Previous Monthly High 0.7278
Previous Monthly Low 0.6993
Daily Fibonacci 38.2% 0.7182
Daily Fibonacci 61.8% 0.7169
Daily Pivot Point S1 0.7149
Daily Pivot Point S2 0.7121
Daily Pivot Point S3 0.7094
Daily Pivot Point R1 0.7204
Daily Pivot Point R2 0.7231
Daily Pivot Point R3 0.7259

 

 

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