• AUD/USD consolidates the heaviest gains in a month below the key short-term hurdle.
  • 50-SMA, 13-day-old resistance line guard immediate upside, bearish Doji keeps sellers hopeful.

AUD/USD fades Friday’s bounce off yearly low, down 0.10% intraday around 0.7520, during Monday’s Asian session. In doing so, the quote justifies the bearish candlestick formation while easing below a convergence of 50-SMA and a short-term key descending trend line.

The quote’s latest pullbacks signal return of the 0.7500 threshold but any further downside will be tested by the previous month’s low around 0.7480-75, not to forget the latest yearly low surrounding 0.7445, flashed on Friday.

It should, however, be noted that August 2020 tops surrounding 0.7415 and the 0.7400 psychological magnet will be tough nuts to crack for AUD/USD bears.

On the flip side, an upside clearance of the 0.7540 resistance confluence will escalate Friday’s recovery moves to late June’s swing high near 0.7620.

In a case where AUD/USD prices remain firm beyond 0.7620, the mid-June lows near 0.7675 and the 0.7800 round figure will lure the bulls afterward.

AUD/USD: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.752
Today Daily Change -0.0008
Today Daily Change % -0.11%
Today daily open 0.7528
 
Trends
Daily SMA20 0.7607
Daily SMA50 0.7697
Daily SMA100 0.7709
Daily SMA200 0.7571
 
Levels
Previous Daily High 0.7535
Previous Daily Low 0.7445
Previous Weekly High 0.7603
Previous Weekly Low 0.7445
Previous Monthly High 0.7794
Previous Monthly Low 0.7477
Daily Fibonacci 38.2% 0.7501
Daily Fibonacci 61.8% 0.7479
Daily Pivot Point S1 0.747
Daily Pivot Point S2 0.7413
Daily Pivot Point S3 0.738
Daily Pivot Point R1 0.756
Daily Pivot Point R2 0.7593
Daily Pivot Point R3 0.765

 

 

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