AUD/USD Price Analysis: Refreshes intraday low around 0.7550, nears key supports

AUD/USD fails to keep the previous day’s upside momentum.
100-HMA, one-week-old rising trend line offers immediate support.
Bulls need to refresh monthly high to retake the controls.

Anil Panchal FXStreet

AUD/USD drops to the intraday low of 0.7545, currently at 0.7548, while marking a 0.16% decline on a day during early Wednesday. The aussie pair benefited from upbeat market sentiment the previous day but the recent cautious mood ahead of the key US stimulus announcements and Fed decision, coupled with the Aussie-China tussle, weigh on the quote.

However, a joint of 100-HMA and an ascending trend line from December 09, around 0.7530, will restrict the pair’s immediate downside.

Also acting as the key support is an upward sloping trend line from December 07, at 0.7513 now, as well as the 0.7500 round-figure.

If at all the risks remain heavy and weigh the quote past-0.7500, December 09 top near 0.7485 can lure the AUD/USD sellers.

On the contrary, recent tops near 0.7580 can offer nearby resistance to the quote ahead of directing AUD/USD bulls toward the 0.7600 threshold. Though, any further upside will not refrain from challenging June 2018 peak near 0.7680.

AUD/USD hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.7549
Today Daily Change	-11 pips
Today Daily Change %	-0.15%
Today daily open	0.756

Trends
Daily SMA20	0.7404
Daily SMA50	0.7261
Daily SMA100	0.7234
Daily SMA200	0.691

Levels
Previous Daily High	0.7572
Previous Daily Low	0.7506
Previous Weekly High	0.7572
Previous Weekly Low	0.7372
Previous Monthly High	0.7438
Previous Monthly Low	0.699
Daily Fibonacci 38.2%	0.7547
Daily Fibonacci 61.8%	0.7532
Daily Pivot Point S1	0.7521
Daily Pivot Point S2	0.7481
Daily Pivot Point S3	0.7455
Daily Pivot Point R1	0.7586
Daily Pivot Point R2	0.7612
Daily Pivot Point R3	0.7652

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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