AUD/USD Price Analysis: Defends 0.7700 amid impending bearish cross on D1


  • AUD/USD wobbles in a choppy range around 0.7700.
  • Normal RSI, bear cross favor sellers, weekly support line restricts immediate downside.
  • 0.7800 becomes the tough nut to crack for bulls.

AUD/USD pokes intraday high of 0.7711 amid a quiet Asian session, due to off in Australia and China, on Monday. Even so, a looming bearish cross-over of the 50-day SMA to 21-day SMA keeps sellers hopeful.

Given the absence of oversold RSI, coupled with the bear cross, the quote may drop back towards the one-week-old support line, near 0.7700. However, any further weakness will be tested by an ascending trend line from April 01, close to 0.7660.

Although the AUD/USD sellers need a strong back-up to break 0.7660 support, a clear downside will not refrain from refreshing the monthly low, currently around 0.7645.

On the contrary, a corrective pullback should offer a daily closing beyond 0.7735-40 area, comprising 50-day and 21-day SMA, to recall the AUD/USD buyers.

Even so, multiple upside hurdles around the 0.7800 round figure and 0.7820 could test the pair bulls ahead of directing them to May’s top of 0.7892.

AUD/USD daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.7707
Today Daily Change -0.0001
Today Daily Change % -0.01%
Today daily open 0.7708
 
Trends
Daily SMA20 0.7741
Daily SMA50 0.7735
Daily SMA100 0.7727
Daily SMA200 0.7546
 
Levels
Previous Daily High 0.7776
Previous Daily Low 0.7687
Previous Weekly High 0.7794
Previous Weekly Low 0.7687
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.7721
Daily Fibonacci 61.8% 0.7742
Daily Pivot Point S1 0.7671
Daily Pivot Point S2 0.7635
Daily Pivot Point S3 0.7582
Daily Pivot Point R1 0.776
Daily Pivot Point R2 0.7813
Daily Pivot Point R3 0.7849

 

 

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