• AUD/USD seesaws inside 20-pip trading range after the biggest daily jump in two weeks.
  • Bearish chart pattern, sluggish oscillators keep sellers hopeful.
  • 200-SMA acts as a validation point for a slump, seven-week-old horizontal area restricts immediate upside.

AUD/USD remains inside the latest 20-pip trading range around 0.7230-50 during Wednesday’s Asian session. The Aussie pair jumped the most since December 22 the previous day while consolidating Monday’s heavy losses.

That said, the AUD/USD pair’s failure to keep the bounce off 100-SMA joins sluggish MACD and RSI to favor sellers. However, confirmation of the monthly rising wedge and a downside break of 200-SMA becomes necessary for the bears to take an entry, which in turn highlights the 0.7170 level as the key support.

Following that, a slump towards the late December swing low near 0.7080 becomes imminent. Given the bear’s ability to keep reins past 0.7080, the 2021 low of 0.7000 will be in focus.

Alternatively, recovery moves may aim for 0.7250 but a seven-week-old horizontal area restricts short-term upside around 0.7280. Adding to the upside filter is the stated wedge’s upper line near 0.7285.

In a case where AUD/USD crosses the 0.7285 hurdle, the 0.7300 threshold and mid-November peak surrounding 0.7370 should return to the charts.

AUD/USD: Four-hour chart

Trend: Pullback expected

Additional important levels

Today last price 0.7238
Today Daily Change -0.0002
Today Daily Change % -0.03%
Today daily open 0.724
Daily SMA20 0.7192
Daily SMA50 0.7248
Daily SMA100 0.7287
Daily SMA200 0.7441
Previous Daily High 0.725
Previous Daily Low 0.7184
Previous Weekly High 0.7278
Previous Weekly Low 0.7204
Previous Monthly High 0.7278
Previous Monthly Low 0.6993
Daily Fibonacci 38.2% 0.7225
Daily Fibonacci 61.8% 0.7209
Daily Pivot Point S1 0.7199
Daily Pivot Point S2 0.7159
Daily Pivot Point S3 0.7133
Daily Pivot Point R1 0.7265
Daily Pivot Point R2 0.7291
Daily Pivot Point R3 0.7331



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