AUD/USD Price Analysis: Picks up bids inside familiar territory below 0.7800

AUD/USD stays mildly bid inside a short-term triangle formation.
Bullish MACD, sustained trading above 50-day SMA keeps buyers hopeful.
Daily closing beyond 0.7815 becomes necessary to convince buyers.

Anil Panchal FXStreet

AUD/USD keeps late Thursday’s recovery moves from 0.7750 while picking up bids around 0.7775, up 0.10% intraday, during early Friday.

Although the quote defies the previous day’s pullback from the six-week top, a triangle formation established since early March restricts the short-term moves between 0.7745 and 0.7815.

However, the pair’s successful trading beyond 50-day SMA and bullish MACD favor the buyers targeting March month’s peak surrounding 0.7850.

Meanwhile, a downside break of 50-day SMA, around 0.7720 by the press time, should immediately break the 0.7700 threshold but the monthly horizontal support close to 0.7690 may test the AUD/USD bears afterward.

Overall, AUD/USD bears look for the fresh push towards the north, which in turn highlights the latest risk catalysts for a fresh direction.

AUD/USD daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.7776
Today Daily Change	9 pips
Today Daily Change %	0.12%
Today daily open	0.7767

Trends
Daily SMA20	0.7704
Daily SMA50	0.7723
Daily SMA100	0.7701
Daily SMA200	0.7462

Levels
Previous Daily High	0.7819
Previous Daily Low	0.775
Previous Weekly High	0.7817
Previous Weekly Low	0.769
Previous Monthly High	0.785
Previous Monthly Low	0.7562
Daily Fibonacci 38.2%	0.7776
Daily Fibonacci 61.8%	0.7792
Daily Pivot Point S1	0.7738
Daily Pivot Point S2	0.7709
Daily Pivot Point S3	0.7668
Daily Pivot Point R1	0.7807
Daily Pivot Point R2	0.7848
Daily Pivot Point R3	0.7877

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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