AUD/USD Price Analysis: Off 200-SMA to direct bulls towards fortnight-old hurdle

AUD/USD picks up bids from intraday low amid bullish MACD.
Sustained trading above the key SMA favor buyers.
Weekly support line adds to the downside filters.

Anil Panchal FXStreet

AUD/USD keeps Monday’s upside break of 200-SMA, recently picking up bids near 0.7752, during the Asian session on Tuesday.

In addition to the Aussie pair’s breakout of the key SMA, bullish MACD signals also favor the buyers to attack a downward sloping trend line from May 11, around 0.7770.

However, any further upside needs to cross the May 18 swing high near 0.7815 before targeting the monthly top near 0.7890, not to forget the 0.7900 round figure.

Meanwhile, a downside break of 200-SMA near 0.7745 may witness multiple supports around the 0.7700 threshold before dropping back towards the short-term falling support line near 0.7675.

To sum up, AUD/USD remains directed to the short-term key resistance and the odds of the further upside can’t be ruled out.

AUD/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.7752
Today Daily Change	0.0000
Today Daily Change %	0.00%
Today daily open	0.7752

Trends
Daily SMA20	0.7766
Daily SMA50	0.7715
Daily SMA100	0.7729
Daily SMA200	0.7513

Levels
Previous Daily High	0.7759
Previous Daily Low	0.7706
Previous Weekly High	0.7814
Previous Weekly Low	0.771
Previous Monthly High	0.7819
Previous Monthly Low	0.7531
Daily Fibonacci 38.2%	0.7739
Daily Fibonacci 61.8%	0.7726
Daily Pivot Point S1	0.7719
Daily Pivot Point S2	0.7685
Daily Pivot Point S3	0.7665
Daily Pivot Point R1	0.7772
Daily Pivot Point R2	0.7792
Daily Pivot Point R3	0.7826

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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