AUD/USD Price Analysis: Sellers on the move around mid-0.7300s

AUD/USD fails to extend Friday’s recovery, refreshes intraday low.
Inability to cross 0.7380-85 resistance confluence joins upbeat Momentum to keep sellers hopeful.
Monthly support line on the bears’ radar, five-week-old horizontal resistance offers extra hurdle to the north.

Anil Panchal FXStreet

AUD/USD takes offers around 0.7355, down 0.16% intraday, during Monday morning in Asia.

The Aussie pair defies the previous day’s recovery moves while declining back below the 0.7380-85 resistance convergence, comprising 21-day EMA and a monthly falling trend line.

Given the strong Momentum line backing the downside moves, AUD/USD sellers have higher hopes to extend the pair’s latest fall.

In doing so, an ascending support line from July 21, near 0.7320, gains immediate attention ahead of the 0.7300 threshold. However, July low, also the yearly bottom, near 0.7290-85 will be the key level to watch afterward.

Meanwhile, recovery moves need to stay beyond 0.7385 to regain the 0.7400 round figure. Though, AUD/USD bulls may remain skeptical unless witnessing a daily closing beyond 0.7410, encompassing an upper line of a horizontal area established since July 09.

Overall, AUD/USD remains in the bearish consolidation with China's data dump in focus.

Read: AUD/USD: Recovery remains capped below 0.7400, China data dump eyed

AUD/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.7358
Today Daily Change	-0.0011
Today Daily Change %	-0.15%
Today daily open	0.7369

Trends
Daily SMA20	0.7365
Daily SMA50	0.7482
Daily SMA100	0.7602
Daily SMA200	0.7611

Levels
Previous Daily High	0.7383
Previous Daily Low	0.7332
Previous Weekly High	0.739
Previous Weekly Low	0.7315
Previous Monthly High	0.7599
Previous Monthly Low	0.7288
Daily Fibonacci 38.2%	0.7364
Daily Fibonacci 61.8%	0.7351
Daily Pivot Point S1	0.734
Daily Pivot Point S2	0.731
Daily Pivot Point S3	0.7289
Daily Pivot Point R1	0.7391
Daily Pivot Point R2	0.7412
Daily Pivot Point R3	0.7442

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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