AUD/USD Price Analysis: Rebounds from 100-SMA to approach 0.7200


  • AUD/USD refreshes weekly high during four-day uptrend, reversing early Asian losses.
  • Successful beak of key SMAs, six-week-old trend line favor buyers.
  • 200-SMA becomes a tough nut to crack for bulls, sellers need validation from 0.7060.

AUD/USD keeps a six-week-old resistance break, bouncing off 100-SMA to refresh daily high near 0.7190 during early Thursday morning in Asia.

In addition to the sustained recovery from the key SMA, not to forget a clear break of 50-SMA and descending trend line from October 29, bullish MACD signals also favor AUD/USD buyers.

That said, 38.2% Fibonacci retracement (Fibo.) level of October-December downside near 0.7210, seems an imminent target for the bulls.

However, the 50% Fibo level near 0.7275 and the 200-SMA figure of 0.7300 will challenge the pair’s upside afterward.

Alternatively, sellers need to conquer the 100-SMA level of 0.7160 to take fresh entries but a convergence of the 50-SMA and previous resistance line, around 0.7100 will challenge the further downside.

Following that, 0.7030 may probe the AUD/USD bears before directing them to the 0.7000-6990 key support zone, including lows marked during November 2020 and so far during December 2021.

AUD/USD: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 0.7184
Today Daily Change 0.0008
Today Daily Change % 0.11%
Today daily open 0.7176
 
Trends
Daily SMA20 0.719
Daily SMA50 0.7318
Daily SMA100 0.7319
Daily SMA200 0.7489
 
Levels
Previous Daily High 0.7184
Previous Daily Low 0.7114
Previous Weekly High 0.7174
Previous Weekly Low 0.6993
Previous Monthly High 0.7537
Previous Monthly Low 0.7063
Daily Fibonacci 38.2% 0.7157
Daily Fibonacci 61.8% 0.7141
Daily Pivot Point S1 0.7133
Daily Pivot Point S2 0.7089
Daily Pivot Point S3 0.7063
Daily Pivot Point R1 0.7202
Daily Pivot Point R2 0.7228
Daily Pivot Point R3 0.7272

 

 

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