AUD/USD Price Analysis: Further downside hinges on 0.7500 breakdown

AUD/USD takes offers to snap three-day uptrend, sellers attack monthly support line.
Hidden bullish divergence keeps buyers hopeful, 100-DMA adds to the downside filters.

Anil Panchal FXStreet

AUD/USD refreshes intraday low with 0.7502 marking the first negative daily performance in four during Thursday’s Asian session. In doing so, the Aussie pair sellers battle with an ascending support line from September 30.

In addition to the stated trend line support, a hidden bullish divergence, a condition where prices make lower high but the RSI prints higher high, also challenges the bear’s return around the 0.7500 threshold.

While a clear downside break of the 0.7500 round figure will direct the AUD/USD prices towards the 100-DMA near 0.7390, September’s peak around 0.7480-75 acts as an extra challenge for the pair sellers.

Should AUD/USD sellers dominate past 100-DMA, the late September’s wing top around 0.7315 will be in focus.

Meanwhile, the corrective pullback will aim for the monthly high, also the highest since July, around 0.7550 before highlighting the 200-DMA hurdle near 0.7565.

During the AUD/USD run-up beyond 0.7565, the late June’s swing high close to 0.7620 may lure the bulls.

AUD/USD: Daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.7506
Today Daily Change	0.0006
Today Daily Change %	0.08%
Today daily open	0.75

Trends
Daily SMA20	0.7368
Daily SMA50	0.7326
Daily SMA100	0.7395
Daily SMA200	0.7561

Levels
Previous Daily High	0.7526
Previous Daily Low	0.7484
Previous Weekly High	0.7547
Previous Weekly Low	0.7378
Previous Monthly High	0.7478
Previous Monthly Low	0.717
Daily Fibonacci 38.2%	0.751
Daily Fibonacci 61.8%	0.75
Daily Pivot Point S1	0.748
Daily Pivot Point S2	0.7461
Daily Pivot Point S3	0.7438
Daily Pivot Point R1	0.7523
Daily Pivot Point R2	0.7546
Daily Pivot Point R3	0.7565

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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