AUD/USD Price Analysis: Bulls lose control near 0.7500

AUD/USD prints mild losses following the previous day’s decline.
Bulls face rejection near the 0.7500 key psychological mark.
The momentum oscillator throws caution on aggressive bids.

Rekha Chauhan Independent Analyst

AUD/USD extends the previous day’s downside momentum and edges lower in the Asian trading session on Monday. The pair made a high of 0.7490 and retreated quickly to the low of 0.7476.

At the time of writing, AUD/USD is trading at 0.7480, down 0.05% for the day.

AUD/USD 4-hour chart

On the 4-hour chart, the AUD/USD pair has been facing stiff resistance near the descending trendline from the high in the vicinity of the 0.7600 area made on Wednesday.

The Moving Average Convergence Divergence (MACD) trades below the midline with a neutral stance. Any downtick in the MACD would intensify the selling pressure.

In doing so, the bears could capture the 0.7465 and the 0.7445 horizontal support levels.

Next, the low made on Friday at 0.7409 will be on the AUD/USD bears radar.

Alternatively, if price breaks the bearish slope line, then it could reverse the prevailing trend and move north.

The first target for bulls in line will be the 0.7500 key psychological mark.

A close above the 1.2500 would open the gates for the 0.7520 horizontal resistance level, followed by the high of Wednesday at 0.7535.

AUD/USD additional levels

AUD/USD

Overview
Today last price	0.7482
Today Daily Change	-0.0004
Today Daily Change %	-0.05
Today daily open	0.7485

Trends
Daily SMA20	0.7544
Daily SMA50	0.7669
Daily SMA100	0.7694
Daily SMA200	0.758

Levels
Previous Daily High	0.7496
Previous Daily Low	0.7409
Previous Weekly High	0.7599
Previous Weekly Low	0.7409
Previous Monthly High	0.7794
Previous Monthly Low	0.7477
Daily Fibonacci 38.2%	0.7463
Daily Fibonacci 61.8%	0.7442
Daily Pivot Point S1	0.7431
Daily Pivot Point S2	0.7376
Daily Pivot Point S3	0.7344
Daily Pivot Point R1	0.7518
Daily Pivot Point R2	0.755
Daily Pivot Point R3	0.7605

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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