- AUD/USD snaps three-day losing streak, picks up bids off-late.
- 50-day SMA, short-term falling trend line test the buyers.
- Ascending trend line from December 21 probe bears.
AUD/USD keeps Friday’s bounce off the 11-week-old support line, currently up 0.23% intraday near 0.7710, during early Monday.
Although strong RSI favors the AUD/USD buyers, a convergence of 50-day SMA and a falling trend line from February 25, near 0.7745, guards the quote’s immediate upside.
Should the pair rallies beyond 0.7745 on a daily closing, the monthly high of 0.7838 and the 0.7900 threshold lure AUD/USD bulls.
Meanwhile, failures to cross the stated resistance may take clues from the US dollar strength and attack the multi-day-old support line, at 0.7637 now.
If at all the AUD/USD bears manage to conquer the key support trend line, the yearly bottom surrounding 0.7560 should be watched closely.
Overall, AUD/USD bears seem to have tired but there is no major support for the bulls’ entries.
AUD/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||0.771|
|Today Daily Change||17 pips|
|Today Daily Change %||0.22%|
|Today daily open||0.7693|
|Previous Daily High||0.7732|
|Previous Daily Low||0.7622|
|Previous Weekly High||0.7838|
|Previous Weekly Low||0.7622|
|Previous Monthly High||0.8008|
|Previous Monthly Low||0.7562|
|Daily Fibonacci 38.2%||0.7664|
|Daily Fibonacci 61.8%||0.769|
|Daily Pivot Point S1||0.7632|
|Daily Pivot Point S2||0.7572|
|Daily Pivot Point S3||0.7522|
|Daily Pivot Point R1||0.7743|
|Daily Pivot Point R2||0.7793|
|Daily Pivot Point R3||0.7853|
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.