- 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
|Today last price||0.7554|
|Today Daily Change||0.0001|
|Today Daily Change %||0.01%|
|Today daily open||0.7553|
|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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