AUD/USD Price Analysis: Bulls struggle to hold 0.7720 near 50-day SMA

AUD/USD gathers momentum in the early European session.
Pair moves near the lower trend line of symmetrical triangle.
Neutral MACD asks for a wait-and-watch approach.

Rekha Chauhan Independent Analyst

The AUD/USD pair started the fresh trading week on a higher note. The pair recovered a part of Friday’s losses, consisting of 30-pips movement.

At the time of writing, the AUD/USD pair trades at 0.7727, up 0.18% on the day.

AUD/USD daily chart

On the daily chart, the AUD/USD pair is accumulating gains inside the symmetrical triangle. The Pair is placed at the 50-day Simple Moving Average (SMA), which also coincides with the rising trendline from the lows of 0.7674.

The pair faces a strong price barrier near 0.7730, with multiple top formations. If price breaks 0.7720, then it would mark the triangle breakout on the downside. In doing so, AUD/USD is expected to travel back to Thursday’s low at 0.7676.

The Moving Average Convergence Divergence (MACD) indicator reads above the midline, with bearish momentum. If MACD slips below the midline, then it would initiate another round of selling toward April 14 low at 0.7633 followed by the 0.7600 horizontal support level.

Alternatively, if price sustained above the session’s high, then AUD/USD bull’s could crawl back to the 0.7750 horizontal resistance level and would next aim at the May 26 high at 0.7797.

The price action would have further potential to recoup the May 12 high at 0.7847.

AUD/USD Additional Levels

AUD/USD

Overview
Today last price	0.7728
Today Daily Change	0.0016
Today Daily Change %	0.21
Today daily open	0.7712

Trends
Daily SMA20	0.7762
Daily SMA50	0.7713
Daily SMA100	0.7727
Daily SMA200	0.7524

Levels
Previous Daily High	0.7749
Previous Daily Low	0.7677
Previous Weekly High	0.7797
Previous Weekly Low	0.7677
Previous Monthly High	0.7819
Previous Monthly Low	0.7531
Daily Fibonacci 38.2%	0.7704
Daily Fibonacci 61.8%	0.7721
Daily Pivot Point S1	0.7676
Daily Pivot Point S2	0.764
Daily Pivot Point S3	0.7604
Daily Pivot Point R1	0.7748
Daily Pivot Point R2	0.7785
Daily Pivot Point R3	0.782

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.

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.