AUD/USD Price Analysis: Bulls need 18-day-old resistance break to aim for 0.7800


  • AUD/USD struggles to keep previous day’s recovery moves.
  • 200-SMA guards immediate upside, weekly trend line tests bears.
  • Sluggish MACD, Momentum suggest extended sideways grind around mid-0.7700s.

AUD/USD portrays a sluggish move around 0.7750 during Friday’s Asian session. In doing so, the Aussie pair fails to extend Thursday’s run-up beyond 200-SMA and a descending resistance line from May 18. However, lack of Momentum and subdued MACD signals restrict the pair’s immediate moves.

Given the strong hurdles around 0.7755 and 0.7765, represented by the 200-SMA and stated resistance line, coupled with the downbeat oscillators, AUD/USD may witness a pullback towards 0.7700.

During the moves, an ascending support line from June 03, near 0.7725, will precede the latest range support around 0.7675 to restrict short-term declines.

Alternatively, an upside clearance of 0.7765 will quickly propel the quote towards the 0.7800 trheshold.

It’s worth noting that the AUD/USD upside past 0.7800, will have a bumpy road as 0.7820 and 0.7835 will probe the buyers before directing them to early May top near 0.7895 and then to the 0.7900 round-figure.

Overall, AUD/USD struggles for a clear direction and hence traders should wait for a clear break for fresh impetus.

AUD/USD four-hour chart

Trend: Sideways

Additional important levels

Overview
Today last price 0.7753
Today Daily Change -0.0001
Today Daily Change % -0.01%
Today daily open 0.7754
 
Trends
Daily SMA20 0.7744
Daily SMA50 0.7733
Daily SMA100 0.7727
Daily SMA200 0.7544
 
Levels
Previous Daily High 0.7764
Previous Daily Low 0.7718
Previous Weekly High 0.7774
Previous Weekly Low 0.7644
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.7746
Daily Fibonacci 61.8% 0.7736
Daily Pivot Point S1 0.7727
Daily Pivot Point S2 0.7699
Daily Pivot Point S3 0.7681
Daily Pivot Point R1 0.7773
Daily Pivot Point R2 0.7791
Daily Pivot Point R3 0.7819

 

 

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