AUD/USD Price Analysis: Teases intraday low near 0.7550, monthly support line defends bulls

AUD/USD wavers around intraday low, fades bounces off short-term support line.
Normal RSI conditions, failure to cross three-day-old resistance line keep sellers hopeful.

Anil Panchal FXStreet

AUD/USD drops to 0.7560, down 0.28% intraday, while heading into Tuesday’s European session. The aussie pair took a U-turn from an upward sloping trend line from November 23 the previous day.

However, the corrective recovery cools off-late, amid normal RSI conditions, which in turn suggests another attempt to break the stated support line, at 0.7515 now.

Although AUD/USD buyers are likely to return around the 0.7500 threshold, any mistakes will recall the early-month peak surrounding 0.7450.

Meanwhile, a downward slopping trend line from last Thursday, currently around the 0.7600 round-figure, guards the pair’s immediate upside.

Should AUD/USD bulls manage to conquer the 0.7600 hurdle, the monthly peak of 0.7640 holds the key to a fresh high since June 2018, around 0.7680.

AUD/USD four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.7562
Today Daily Change	-21 pips
Today Daily Change %	-0.28%
Today daily open	0.7583

Trends
Daily SMA20	0.7465
Daily SMA50	0.7294
Daily SMA100	0.7252
Daily SMA200	0.6936

Levels
Previous Daily High	0.7615
Previous Daily Low	0.7461
Previous Weekly High	0.764
Previous Weekly Low	0.7506
Previous Monthly High	0.7438
Previous Monthly Low	0.699
Daily Fibonacci 38.2%	0.752
Daily Fibonacci 61.8%	0.7556
Daily Pivot Point S1	0.7491
Daily Pivot Point S2	0.7399
Daily Pivot Point S3	0.7337
Daily Pivot Point R1	0.7646
Daily Pivot Point R2	0.7708
Daily Pivot Point R3	0.78

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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