AUD/USD Price Analysis: Eases towards 200-HMA retest inside immediate triangle

AUD/USD fails to carry the previous day’s upside momentum.
Bearish MACD, normal RSI suggests further consolidation of recent gains.
Multiple stops around 0.7700 can challenge the bears, monthly high will test the bulls.

Anil Panchal FXStreet

AUD/USD fades repeated bounces off 200-HMA while easing towards 0.7760 during the early Friday.

Although the risk-off mood joins the bearish MACD to direct the quote towards the key HMA, the further downside will be restricted by the support line of a three-day-old symmetrical triangle.

Hence, a downside break of 0.7750 will need to provide a clear break below the triangle’s support of 0.7735 to visit the 0.7700 threshold.

However, there are multiple tops and bottoms marked during the early February that challenge AUD/USD bears around 0.7700, a break of which will need validation from 0.7680 before testing the monthly low of 0.7562.

On the flip side, the pair’s ability to cross the triangle’s resistance line, at 0.7790 now, will have to refresh the monthly high of 0.7806, as well as the yearly top surrounding 0.7820, to convince the AUD/USD bulls.

AUD/USD hourly chart

Trend: Sideways

Additional important levels

Overview
Today last price	0.7764
Today Daily Change	-4 pips
Today Daily Change %	-0.05%
Today daily open	0.7768

Trends
Daily SMA20	0.7701
Daily SMA50	0.7679
Daily SMA100	0.7458
Daily SMA200	0.7246

Levels
Previous Daily High	0.7791
Previous Daily Low	0.773
Previous Weekly High	0.7773
Previous Weekly Low	0.765
Previous Monthly High	0.782
Previous Monthly Low	0.7592
Daily Fibonacci 38.2%	0.7768
Daily Fibonacci 61.8%	0.7754
Daily Pivot Point S1	0.7735
Daily Pivot Point S2	0.7702
Daily Pivot Point S3	0.7674
Daily Pivot Point R1	0.7796
Daily Pivot Point R2	0.7824
Daily Pivot Point R3	0.7856

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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