AUD/USD Price Analysis: Rebound from yearly low clings to 200-DMA


  • AUD/USD remains range-bound below 0.7565, eases from intraday high of late.
  • Failures to stay below 200-DMA, Momentum rebound backs recovery hopes.
  • Six-month-old horizontal line guards immediate upside, bears need a clear break of 0.7520.

AUD/USD remains sidelined around 0.7550, edges lower of late, during Friday’s Asian session. In doing so, the Aussie pair portrays a corrective pullback from the yearly low while taking rounds to 200-day SMA (DMA).

Given the U-turn of the Momentum line from oversold territory, the latest recovery is likely to last longer if the quote manages to secure a daily closing beyond the 200-DMA level of 0.7555.

Following that, the 0.7600 round figure and multiple levels marked since late December 2020 around 0.7640-45 may test AUD/USD buyers before directing them to a downward sloping trend line from February 25, close to 0.7765.

On the flip side, the 0.7531-19 area comprising multiple lows marked since December 11, 2020 tests the pair bears targeting the August-September 2020 tops near 0.7420.

During the quote’s weakness past 0.7420, highs marked in October and early November of 2020, close to 0.7340-45, becomes the key.

Overall, AUD/USD sellers seem tiring around the key SMA support, suggesting the bounce off important support zone.

AUD/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 0.7554
Today Daily Change 0.0001
Today Daily Change % 0.01%
Today daily open 0.7553
 
Trends
Daily SMA20 0.7716
Daily SMA50 0.7735
Daily SMA100 0.7725
Daily SMA200 0.7554
 
Levels
Previous Daily High 0.7647
Previous Daily Low 0.7539
Previous Weekly High 0.7794
Previous Weekly Low 0.7687
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.758
Daily Fibonacci 61.8% 0.7606
Daily Pivot Point S1 0.7512
Daily Pivot Point S2 0.7472
Daily Pivot Point S3 0.7405
Daily Pivot Point R1 0.762
Daily Pivot Point R2 0.7687
Daily Pivot Point R3 0.7728

 

 

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