• AUD/USD remains pressured below short-term resistance, fails to extend Friday’s run-up.
  • RSI, MACD lure bulls as the quote stays beyond previous resistance line, 100-SMA.
  • 50-SMA adds to the downside filters, 0.7275 acts as important resistance.

AUD/USD struggles to extend the previous day’s upside momentum, down 0.13% around 0.7160 during Monday’s Asian session.

Even so, AUD/USD trades successfully past the five-week-old descending trend line and 50-SMA, taking rounds to 100-SMA recently. However, a fortnight-long horizontal area challenges the bulls as MACD shows traders’ indecision and RSI nears the overbought region, suggesting the need for a strong push to the north if buyers want to keep the reins.

Following that, a convergence of 200-SMA and 50% Fibonacci retracement (Fibo.) November-December fall, around 0.7270-75, will be in focus. During the run-up, November 19 swing lows near 0.7225-30 can act as a buffer.

On the downside, the resistance-turned-support line and 50-SMA, respectively close to 0.7120 and the 0.7100 threshold, could stop the sellers during a pullback.

Adding to the supports are 0.7060 and 0.7030 levels, a break of which will shift the market’s attention towards the key 0.7000-0.6990 area comprising lows marked during November 2020 and so far during December 2021.

AUD/USD: Four-hour chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 0.7166
Today Daily Change -0.0006
Today Daily Change % -0.08%
Today daily open 0.7172
 
Trends
Daily SMA20 0.7175
Daily SMA50 0.7315
Daily SMA100 0.7315
Daily SMA200 0.7484
 
Levels
Previous Daily High 0.7184
Previous Daily Low 0.7131
Previous Weekly High 0.7188
Previous Weekly Low 0.6995
Previous Monthly High 0.7537
Previous Monthly Low 0.7063
Daily Fibonacci 38.2% 0.7164
Daily Fibonacci 61.8% 0.7152
Daily Pivot Point S1 0.7141
Daily Pivot Point S2 0.711
Daily Pivot Point S3 0.7089
Daily Pivot Point R1 0.7194
Daily Pivot Point R2 0.7215
Daily Pivot Point R3 0.7246

 

 

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