AUD/USD Price Analysis: Eases from intraday top below 0.7700

AUD/USD trims intraday gains, stays below key hurdles.
Fortnight-old horizontal area, monthly resistance line test recovery moves.
Bears need to break 0.7557 for confirmation, monthly top adds to the upside barriers.

Anil Panchal FXStreet

AUD/USD steps back from 0.7664 while trimming intraday gains to 0.24% ahead of Tuesday’s European session. In doing so, the quote fades upside momentum before hitting the key barriers to the north.

Among them, a horizontal area between 0.7690 and 0.7705, comprising 100-SMA, becomes the first challenge to the AUD/USD buyers.

Following that, a one-month-long falling resistance line and the monthly top, respectively around 0.7765 and 0.7850 will be important to watch.

On the contrary, the early month lows surrounding 0.7620 and the 0.7600 round-figure can entertain AUD/USD sellers during the fresh pullback.

However, any further weakness will have to break a horizontal region comprising lows marked since December 28, around 0.7562-57.

Overall, AUD/USD remains in the consolidation mode and hence short-term sellers are welcomed.

AUD/USD four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.7654
Today Daily Change	20 pips
Today Daily Change %	0.26%
Today daily open	0.7634

Trends
Daily SMA20	0.7714
Daily SMA50	0.773
Daily SMA100	0.7624
Daily SMA200	0.7378

Levels
Previous Daily High	0.7694
Previous Daily Low	0.7614
Previous Weekly High	0.7758
Previous Weekly Low	0.7562
Previous Monthly High	0.8008
Previous Monthly Low	0.7562
Daily Fibonacci 38.2%	0.7644
Daily Fibonacci 61.8%	0.7663
Daily Pivot Point S1	0.7601
Daily Pivot Point S2	0.7568
Daily Pivot Point S3	0.7522
Daily Pivot Point R1	0.7681
Daily Pivot Point R2	0.7727
Daily Pivot Point R3	0.776

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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