- 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
Additional important levels
|Today last price||0.7753|
|Today Daily Change||-0.0001|
|Today Daily Change %||-0.01%|
|Today daily open||0.7754|
|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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