AUD/USD Price Analysis: Bulls looking to extend momentum beyond 100/200-hour SMA confluence region

  • AUD/USD snaps four straight days of losing streak amid a strong recovery in the risk sentiment.
  • The set-up warrants some caution for bulls amid the prevalent buying interest around the USD.

A strong recovery in the global risk sentiment assisted the AUD/USD pair to catch some fresh bids on Monday and snap four consecutive days of losing streak.

The pair climbed fresh session tops, around the 0.6085 region in the last hour, with bulls now looking to extend the momentum beyond 100/200-hour SMA confluence region. 

Technical indicators on hourly charts have been gaining some positive traction and support prospects for an extension of the pair's intraday appreciating move.

Meanwhile, oscillators on the daily chart are yet to recover fully from the negative territory and warrant some caution before placing any aggressive bullish bets.

The prevalent bullish sentiment surrounding the USD, further supported by a goodish pickup in the US Treasury bond yields, might cap any further move up.

Hence, it will be prudent to wait for some strong follow-through buying, possibly beyond the 0.6100 round-figure mark, to support prospects for additional gains.

AUD/USD 1-hourly chart


Technical levels to watch


Today last price 0.6078
Today Daily Change 0.0081
Today Daily Change % 1.35
Today daily open 0.5997
Daily SMA20 0.6093
Daily SMA50 0.6437
Daily SMA100 0.6654
Daily SMA200 0.6748
Previous Daily High 0.6076
Previous Daily Low 0.598
Previous Weekly High 0.6214
Previous Weekly Low 0.598
Previous Monthly High 0.6686
Previous Monthly Low 0.5509
Daily Fibonacci 38.2% 0.6016
Daily Fibonacci 61.8% 0.6039
Daily Pivot Point S1 0.5959
Daily Pivot Point S2 0.5921
Daily Pivot Point S3 0.5863
Daily Pivot Point R1 0.6056
Daily Pivot Point R2 0.6114
Daily Pivot Point R3 0.6152



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