AUD/USD Price Analysis: Aussie Bulls Attack 100-DMA Within Bullish Channel
- AUD/USD renews a three-week high inside a two-month-old ascending trend channel.
- Bullish MACD signals and upbeat RSI keeps buyers hopeful of crossing the 100-DMA hurdle.
- Sellers remain off the table unless witnessing daily close beyond 0.6600.
AUD/USD stays on the bids for the sixth consecutive day as it refreshes a three-week high near 0.6785 during early Monday in Europe. The Aussie pair prods the 100-DMA hurdle inside an upward-sloping trend channel comprising multiple levels marked since March.
Given the bullish MACD signals and upbeat RSI (14) line, not overbought, the AUD/USD buyers are likely to cross the immediate hurdle surrounding 0.6790, comprising the 100-DMA.
However, likely overbought conditions around the 0.6800 round figure and the top line of the stated bullish channel, close to 0.6810 at the latest, can challenge the AUD/USD bulls afterward.
Should the Aussie pair buyers keep the reins past 0.6810, 0.6855, and 0.6900 will precede the mid-February’s peak of around 0.7030 to challenge the pair buyers.
On the contrary, the 50% Fibonacci retracement level of the pair’s run-up from October 2022 to February 2023, near 0.6660, can challenge the AUD/USD bears.
Following that, the stated channel’s bottom line of around 0.6600 and the 61.8% Fibonacci retracement level of near 0.6545, also known as the golden Fibonacci ratio, may prod the Aussie pair sellers before giving them control.
AUD/USD remains on the bull’s radar even if the upside remains long and bumpy.
AUD/USD: Daily chart
(Click on image to enlarge)
Trend: Further upside expected
Additional Important Levels
| OVERVIEW | |
|---|---|
| Today last price | 0.6782 |
| Today Daily Change | 0.0033 |
| Today Daily Change % | 0.49% |
| Today daily open | 0.6749 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.6681 |
| Daily SMA50 | 0.6684 |
| Daily SMA100 | 0.6788 |
| Daily SMA200 | 0.6729 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.6757 |
| Previous Daily Low | 0.6689 |
| Previous Weekly High | 0.6757 |
| Previous Weekly Low | 0.6607 |
| Previous Monthly High | 0.6806 |
| Previous Monthly Low | 0.6574 |
| Daily Fibonacci 38.2% | 0.6731 |
| Daily Fibonacci 61.8% | 0.6715 |
| Daily Pivot Point S1 | 0.6707 |
| Daily Pivot Point S2 | 0.6664 |
| Daily Pivot Point S3 | 0.6639 |
| Daily Pivot Point R1 | 0.6774 |
| Daily Pivot Point R2 | 0.6799 |
| Daily Pivot Point R3 | 0.6842 |
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