• AUD/USD remains indecisive after bouncing off three-week low the previous day.
  • Bearish MACD signals, sustained trading below 50-DMA keeps sellers hopeful.
  • 23.6% Fibonacci retracement limits immediate downside, 100-DMA acts as an extra hurdle to the north.

AUD/USD treads water around 0.7150, fading the bounce off multi-day low during Wednesday’s Asian session.

In doing so, the Aussie pair remains below 50-DMA amid bearish MACD signals, which in turn suggests the quote’s further downside.

However, fresh declines will wait for a clear break of the 23.6% Fibonacci retracement (Fibo.) late June to December 2021 downside, near 0.7140.

Following that, the 0.7080 mark may offer an intermediate halt during the slump to the year 2021 low of 0.6993.

It’s worth noting that the 61.8% Fibonacci Expansion (FE) of the pair’s moves between June 26 to January 13, around 0.6920, will lure the AUD/USD bears after 0.6993.

Alternatively, recovery moves may initially battle the 50-DMA level of 0.7182 before challenging the 38.2% Fibo. of 0.7230.

It should be noted, however, that the 100-DMA level of 0.7270 and the monthly high of 0.7315 act as tough resistance for AUD/USD bulls to watch past 0.7230.

AUD/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Today last price 0.7157
Today Daily Change 0.0001
Today Daily Change % 0.01%
Today daily open 0.7156
Daily SMA20 0.7212
Daily SMA50 0.7185
Daily SMA100 0.7273
Daily SMA200 0.7407
Previous Daily High 0.7177
Previous Daily Low 0.712
Previous Weekly High 0.7277
Previous Weekly Low 0.7169
Previous Monthly High 0.7278
Previous Monthly Low 0.6993
Daily Fibonacci 38.2% 0.7156
Daily Fibonacci 61.8% 0.7142
Daily Pivot Point S1 0.7125
Daily Pivot Point S2 0.7095
Daily Pivot Point S3 0.7069
Daily Pivot Point R1 0.7182
Daily Pivot Point R2 0.7208
Daily Pivot Point R3 0.7239



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