- AUD / USD hovers within a small range around 0.7650.
- A bearish MACD supports sellers as they attack the multi-day support line.
- The confluence of the 50 and 100 day SMAs defends the immediate rise.
AUD / USD is consolidating its losses around the 0.7660 level, rising 0.10% on the day, during the European session on Friday and after witnessing the strongest drop in three weeks the day before.
The bearish MACD and a clear break to the downside of the 0.7725-20 support confluence, comprising the 50 and 100 day SMA, keep AUD / USD sellers hopeful.
However, a daily close below an uptrend line from December 21, 2020, around 0.7640, is necessary to witness further declines in the pair.
Below that region, the round level of 0.7600 and the February low around 0.7560 may offer intermediate support before challenging the yearly low near 0.7530.
On the other hand, the corrective retracement may test the horizontal line around 0.7675, but recovery hopes remain slim unless the 0.7725 resistance convergence recovers, where key SMAs await.
AUD / USD daily chart
AUD / USD technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
