AUD/USD Price Analysis: Bulls battle 0.7745 immediate hurdle

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.

Anil Panchal FXStreet

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

Overview
Today last price	0.771
Today Daily Change	17 pips
Today Daily Change %	0.22%
Today daily open	0.7693

Trends
Daily SMA20	0.7788
Daily SMA50	0.7734
Daily SMA100	0.7532
Daily SMA200	0.7314

Levels
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

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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