AUD/USD Price Analysis: Buyers face strong resistance near 0.7550

AUD/USD trades higher on Friday in the early European session.
The pair contiunes to move higher from the lows of 0.7191 in the October series.
A break below 0.7450 could expose more downside risk for AUD/USD.

Rekha Chauhan Independent Analyst

AUD/USD manages to contain the previous day’s decline on Friday. The pair fell from the high of 0.7547 composed of more than 80-pips movement in the overnight session. At the time of writing, AUD/USD is trading at 0.7477, up 0.11% for the day.

AUD/USD daily chart

On the daily chart, the AUD/USD pair has been facing a strong resistance barrier near 0.7550 where the current rally faces downside pressure. The spot has posted strong gains since the beginning of the October series from the lows of 0.7191.

If the price breaks below the intraday low then the first downside target appears at the 0.7410 horizontal support level, followed by the low made on October, 13 at 0.7322.

The Moving Average Convergence Divergence (MACD) trades into the overbought zone. Any downtick in the MACD would open the gates for the 0.7300 horizontal support level.

Alternatively, if the price breaks above the intraday high, it could move back to the previous day’s high of 0.7547. Further, a daily close above the 100-day Simple Moving Average (SMA) at 0.7588 would make the possibility of the psychological 0.7600 level. Next, on the bulls' radars will be the 0.7650 horizontal resistance level.

AUD/USD additional levels

AUD/USD

Overview
Today last price	0.7479
Today Daily Change	0.0012
Today Daily Change %	0.16
Today daily open	0.7467

Trends
Daily SMA20	0.7334
Daily SMA50	0.7316
Daily SMA100	0.7403
Daily SMA200	0.7565

Levels
Previous Daily High	0.7547
Previous Daily Low	0.7458
Previous Weekly High	0.7441
Previous Weekly Low	0.7291
Previous Monthly High	0.7478
Previous Monthly Low	0.717
Daily Fibonacci 38.2%	0.7492
Daily Fibonacci 61.8%	0.7513
Daily Pivot Point S1	0.7434
Daily Pivot Point S2	0.7401
Daily Pivot Point S3	0.7344
Daily Pivot Point R1	0.7523
Daily Pivot Point R2	0.758
Daily Pivot Point R3	0.7613

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 struggles to regain momentum in the low1.1600s

EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.

XRP rises alongside peers as ETFs attract inflows

Ripple (XRP) is gaining upside momentum, trading above $1.40 at the time of writing on Wednesday. The remittance token is rising in tandem with major crypto assets, including Bitcoin (BTC), which has crossed above the pivotal $70,000 level, and Ethereum (ETH), which is holding above $2,000.

First Venezuela, now Iran: The US-China energy war escalates

At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.

Bittensor extends recovery despite retail demand slump

Bittensor, a leading Artificial Intelligence token, is aging up above $190 at the time of writing on Wednesday. Steady price increases characterise the broader crypto market, with Bitcoin holding above $71,000 and Ethereum above $2,000.