AUD/USD Price Analysis: Nears 100-DMA hurdle after the big technical breakout

  • AUD/USD approaches 0.7400 after symmetrical triangle breakout on the 1D chart.
  • 100-DMA resistance at 0.7416 is the level to beat for the aussie bulls.
  • Daily RSI points north well above the midline, suggesting more gains.

AUD/USD is building onto Wednesday’s rally, as the buying interest around the aussie remains unabated, despite the mixed Australian jobs and Chinese inflation figures.

The major has recaptured the 0.7400 mark, adding 0.33% on the day, quickly approaching the critical descending 100-Daily Moving Average (DMA) at 0.7416.

AUD/USD’s uptrend found additional legs after the bulls yielded a month-long symmetrical triangle breakout on the daily chart on Wednesday.

The 14-day Relative Strength Index (RSI) is edging higher above the midline, allowing room for more upside.

Therefore, acceptance above the 100-DMA barrier will open doors towards the 0.7450 psychological resistance.

Further up, the September highs of 0.7478 could challenge the bearish commitments.

AUD/USD: Daily chart

Alternatively, the triangle resistance-turned-support at 0.7362 will guard the immediate downside.

The next significant goal for the AUD bears will be the horizontal 50-DMA at 0.7305.  More weakness will prompt the sellers to test the mildly bullish 21-DMA at 0.7285.

AUD/USD: Additional levels to consider


Today last price 0.7403
Today Daily Change 0.0026
Today Daily Change % 0.35
Today daily open 0.7378
Daily SMA20 0.7279
Daily SMA50 0.7305
Daily SMA100 0.7419
Daily SMA200 0.7574
Previous Daily High 0.7383
Previous Daily Low 0.7322
Previous Weekly High 0.7339
Previous Weekly Low 0.7226
Previous Monthly High 0.7478
Previous Monthly Low 0.717
Daily Fibonacci 38.2% 0.736
Daily Fibonacci 61.8% 0.7346
Daily Pivot Point S1 0.7339
Daily Pivot Point S2 0.7301
Daily Pivot Point S3 0.7279
Daily Pivot Point R1 0.74
Daily Pivot Point R2 0.7422
Daily Pivot Point R3 0.746



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

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD slides under 1.16 as US Retail Sales smash estimates

EUR/USD is trading under 1.16 after US Retail Sales smashed estimates with 0.7% in September. Treasury yields are rising. The risk-on mood continues to underpin the pair, as the ECB policymaker Wunsch dismisses inflation concerns. 


GBP/USD retreats below 1.3750 after US data

GBP/USD has pared some of its gains after US Retail Sales beat estimates, with the core group hitting 0.8% last month. Earlier, investors shrugged off dovish comments from two BOE members. 


XAU/USD slumps to $1,770 area on upbeat US data, surging US bond yields

Gold started the last day of the week on the back foot and extended its slide to a fresh daily low of $1,770 in the early trading hours of the American session pressured by the dollar's resilience and surging US Treasury bond yields.

Gold News

Crypto bulls on winning streak pushing for more

Bitcoin price favors bulls reaching $60,000 by the end of this week and onwards to new all-time highs by the end of next week. Ethereum price broke a bearish top line and could hit new all-time highs by next week in tandem with Bitcoin. 

Read more

Why is Tesla going up?

Tesla's (TSLA) stock price has finally pushed higher in a series of steady and sure moves. We had nearly given up on our bullish call with Tesla stock as it kept struggling around the $800 level.

Read more