AUD/USD Price Analysis: Eyes 0.7475 as sell-off extends below 200-DMA

  • AUD/USD extends sell-off after opening Friday below 200-DMA.
  • The next downside target is seen at 0.7475, descending trendline support.
  • RSI pokes the oversold territory, with extra room for additional losses.  

After a brief bounce in the Asian trades, AUD/USD has resumed the downside towards 0.7550, reaching the lowest levels since December 2020.

The aussie shrugs off Westpac’s expectations of the RBA raising the Official Cash Rate (OCR) in early 2023, as the renewed uptick in the US dollar weighs on the spot.

The hawkish Fed’s surprise continues to keep the buoyant tone intact around the greenback while exerting relentless downward pressure on the most majors, including the aussie dollar.

From a near tern technical perspective, the pain in the aussie is exacerbating on a sustained weakness below the 200-Daily Moving Average (DMA) at 0.7554.

The next downside target is seen at the four-month-old descending trendline support at 0.7475.

The Relative Strength Index (RSI) points south, probing the oversold territory, currently at 30.92, which suggests there is room for the bears to flex their muscles.

AUD/USD: Daily chart

Only a daily closing above the 200-DMA could call for a temporary reversal, with the bulls likely to face stiff resistance at the horizontal (orange) trendline hurdle at 0.7589.

The aussie will then look to recapture the 0.7600 mark.

AUD/USD: Additional levels


Today last price 0.7541
Today Daily Change -0.0012
Today Daily Change % -0.16
Today daily open 0.7553
Daily SMA20 0.7716
Daily SMA50 0.7735
Daily SMA100 0.7725
Daily SMA200 0.7554
Previous Daily High 0.7647
Previous Daily Low 0.7539
Previous Weekly High 0.7794
Previous Weekly Low 0.7687
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.758
Daily Fibonacci 61.8% 0.7606
Daily Pivot Point S1 0.7512
Daily Pivot Point S2 0.7472
Daily Pivot Point S3 0.7405
Daily Pivot Point R1 0.762
Daily Pivot Point R2 0.7687
Daily Pivot Point R3 0.7728



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hovers around 1.1900, retains weekly gains

The EUR/USD pair trades around the 1.19 mark after the Eurozone Q2 Prelim GDP beat estimates with 2% while US PCE inflation rose by less than anticipated in June, printing at 3.5% YoY. Risk-on mood persists.


GBP/USD retreats after flirting with 1.4000

GBP/USD retreated from near the 1.4000 level, but the greenback remains away from investors' radar. Optimism over the Brexit issue and the declining trend in new COVID-19 cases in the UK offers support to the pound.


XAU/USD slides to $1,820 area, downside seems limited

Gold traded with a mild negative bias around the $1,825 region, or daily lows, during the early North American session, albeit lacked any follow-through selling.

Gold News

Shiba gets listed on eToro as demand for SHIB skyrockets

Leading investment platform eToro has been adding cryptocurrency assets on popular demand from users. The Dogecoin killer recently amassed 600,000 holders despite range-bound price action. 

Read more

NIO shares rise again as Wall Street shrugs off recent China woes

NYSE:NIO added 1.86% as EV and China stocks bounced back again. Nio rides higher as industry leader Tesla gets some major upgrades. Nio rival XPeng releases a refreshed look for its compact SUV.

Read more