- AUD / USD remains defensive near the lows the day before.
- A bearish MACD and failures trying to break above the key SMA favor bears.
- The 200 SMA joins the downside filters above the key Fibonacci retracement levels.
AUD / USD remains under pressure around the 0.7720 region at the start of the European session on Monday. In doing so, the pair remains below the 100-period SMA amid a bearish MACD.
However, it should be noted that an ascending trend line from April 1 near 0.7700, followed by the 200 SMA at 0.7687, offers hard-to-break support points for AUD / USD sellers.
Further down, the 50% and 61.8% Fibonacci retracement around 0.7675 and 0.7640 respectively act as key supports.
On the other hand, recovery moves may not catch the bullish attention unless the 100 SMA around 0.7730 is successfully crossed.
Even if the pair manages to stay above this level, Thursday’s low of 0.7749 and high near 0.7785 will continue to limit the pair’s rise before it can target the 0.7820 level.
AUD / USD 4-hour chart
AUD / USD technical levels
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