• Aussie bulls are facing barricades around 50% Fibo retracement at 0.6983.
  • The asset is expected to remain sideways in the 0.6890-0.7045 range.
  • The 200-EMA has turned flat while the 50-EMA is overlapping with the asset prices.

The AUD/USD pair is displaying back and forth moves in a narrow range of 0.6945-0.6976 in the Asian session. The asset has turned sideways after a responsive buying action from a cushion below 0.6900. Usually, a responsive buying action indicates the initiation of significant longs by the market participants as they find the asset price a value bet.

On a four-hour scale, the aussie bulls are facing barricades around the 50% Fibonacci retracement (which is placed from June high at 0.7283 to July 14 low at 0.6707) at 0.6983. This has pushed the asset into a charted territory. The asset will consolidate in a 0.6890-0.7045 range ahead.

The 200-period Exponential Moving Average (EMA) at 0.6930. Also, the 50-EMA at 0.6952 is overlapping with the asset prices, which signals a consolidation ahead.

Adding to that, the Relative Strength Index (RSI) (14) has shifted into the 40.00-60.00 range, which indicates that the asset is awaiting a potential trigger for a meaningful move.

A decisive move above the six-week high at 0.7047 will send the major towards the round-level resistance of 0.7100, followed by May 31 high at 0.7204.

Alternatively, a downside break of the above-mentioned consolidation, which is in a 0.6890-0.7045 range will drag the asset towards a 23.6% Fibo retracement at 0.6823. A slippage below 23.6% Fibo retracement will trigger the downside risk to July 5 low at 0.6761.

AUD/USD four-hour chart


Today last price 0.6958
Today Daily Change -0.0012
Today Daily Change % -0.17
Today daily open 0.697
Daily SMA20 0.6892
Daily SMA50 0.696
Daily SMA100 0.7111
Daily SMA200 0.7164
Previous Daily High 0.6991
Previous Daily Low 0.6934
Previous Weekly High 0.7033
Previous Weekly Low 0.6879
Previous Monthly High 0.7033
Previous Monthly Low 0.668
Daily Fibonacci 38.2% 0.6969
Daily Fibonacci 61.8% 0.6956
Daily Pivot Point S1 0.6939
Daily Pivot Point S2 0.6909
Daily Pivot Point S3 0.6883
Daily Pivot Point R1 0.6996
Daily Pivot Point R2 0.7022
Daily Pivot Point R3 0.7052



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