AUD/USD technical analysis: Sellers look for entry below 100-day EMA

AUD/USD slips from five-week high amid mixed comments from the US and China.
100-day EMA acts as immediate key support.
0.6895/6900 and 61.8% Fibonacci retracement holds the gate for further upside to 200-day EMA.

Anil Panchal FXStreet

With the Aussie buyers struggling to hold upside momentum around a monthly high, AUD/USD takes rounds to 0.6865 amid early Monday.

Despite recent pullbacks, overall sentiment remains bullish and hence even short-term sellers await entry only if the pair drops below 100-day Exponential Moving Average (EMA) level of 0.6853.

In doing so, bears could target 38.2% Fibonacci retracement of July-October downside, at 0.6827, whereas 0.6800 will become preferable for short positions then after.

Meanwhile, an area including highs marked since July-end around 0.6895/6900 and 61.8% Fibonacci retracement level of 0.6925 seems nearby crucial resistances to watch during the pair’s further upside.

Should bulls manage to conquer 0.6925, a 200-day EMA level of 0.6953 and July 17 low close to 0.7000 will be in the spotlight.

AUD/USD daily chart

Trend: pullback expected

additional important levels

Overview
Today last price	0.6867
Today Daily Change	0.0001
Today Daily Change %	0.01%
Today daily open	0.6866

Trends
Daily SMA20	0.6765
Daily SMA50	0.6782
Daily SMA100	0.6858
Daily SMA200	0.6969

Levels
Previous Daily High	0.6881
Previous Daily Low	0.684
Previous Weekly High	0.6858
Previous Weekly Low	0.672
Previous Monthly High	0.6895
Previous Monthly Low	0.6687
Daily Fibonacci 38.2%	0.6865
Daily Fibonacci 61.8%	0.6856
Daily Pivot Point S1	0.6844
Daily Pivot Point S2	0.6821
Daily Pivot Point S3	0.6803
Daily Pivot Point R1	0.6885
Daily Pivot Point R2	0.6903
Daily Pivot Point R3	0.6926

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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