AUD/USD Price Analysis: Bounces off monthly support towards 0.7500

AUD/USD snaps two-day losses, refreshes intraday top of late.
Firmer MACD, sturdy RSI add to the bullish bias.
Convergence of 200-DMA, three-month-old resistance line will become a difficult nut to crack for the bulls.
AUD/USD once more rebounds from a month-to-month help line, snapping a two-day downtrend whilst fresh the every day excessive round 0.7485 in advance of Monday’s European session.

Given the less attackable RSI line, now not overbought, coupled with the bullish MACD signals, AUD/USD fees are probably to continue to be firm, suggesting the 0.7500 threshold smash on hand.

However, the present day swing excessive close to 0.7550, additionally the easiest because early July, will precede the convergence of the 200-DMA and an upward sloping fashion line from July 29 to mission the AUD/USD upside shut to 0.7565.

Should the pair customers skip RSI prerequisites and overcome the 0.7565 hurdle, the late June’s top of 0.7617 will be in focus.

Meanwhile, a every day closing beneath the referred to aid line, close to 0.7455 with the aid of the press time, will purpose for the 100-DMA degree of 0.7397 to probe the AUD/USD bears.

In a case the place the quote stays susceptible previous 100-DMA, July’s low close to 0.7290-85 have to return to the chart.


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