AUD/USD Price Analysis: Sellers flirt with resistance-turned-support near 0.7150

AUD/USD extends pullback from three-week high towards previous resistance.
Bullish MACD keeps buyers hopeful to aim for 100-DMA, key Fibonacci retracements can test run-up afterward.
Confluence of 50-DMA, monthly descending trend line restricts immediate declines.
Fortnight-long ascending trend line adds to the downside filters.

Anil Panchal FXStreet

AUD/USD remains pressured around intraday low, down 0.20% near 0.7170 during the first negative daily performance amid Thursday’s Asian session.

In doing so, the Aussie pair battles a convergence of the 50-DMA and previous resistance line from January 13, around 0.7160.

Given the bullish MACD signals, AUD/USD buyers remain hopeful until witnessing a clear downside break of the 0.7160 key resistance-turned-support level.

Even if the quote drops below 0.7160, a two-week-old rising support line near 0.7115 will challenge the pair bears before giving them control.

Meanwhile, 38.2% Fibonacci retracement (Fibo.) of October 2021 to January 2022 downside, close to 0.7195, joins the 0.7200 threshold to restrict the AUD/USD pair’s short-term advances.

However, the 100-DMA level of 0.7250 and 50% Fibo. around 0.7265 act as important resistances to watch during the quote’s further upside.

AUD/USD: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.7169
Today Daily Change	-0.0013
Today Daily Change %	-0.18%
Today daily open	0.7182

Trends
Daily SMA20	0.7146
Daily SMA50	0.7165
Daily SMA100	0.725
Daily SMA200	0.7371

Levels
Previous Daily High	0.7195
Previous Daily Low	0.714
Previous Weekly High	0.7168
Previous Weekly Low	0.6985
Previous Monthly High	0.7315
Previous Monthly Low	0.6966
Daily Fibonacci 38.2%	0.7174
Daily Fibonacci 61.8%	0.7161
Daily Pivot Point S1	0.715
Daily Pivot Point S2	0.7118
Daily Pivot Point S3	0.7096
Daily Pivot Point R1	0.7205
Daily Pivot Point R2	0.7227
Daily Pivot Point R3	0.7259

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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