AUD/USD Price Analysis: Extends pullback from 200-SMA to attack weekly support line

AUD/USD takes affords to refresh intraday low, snaps four-day uptrend.
Repeated disasters to move the key SMA, MACD stipulations trace at the bearish move.
Late-September’s swing excessive provides to the upside filters.
AUD/USD dealers assault a non permanent assist line, standing on slippery grounds close to 0.7265, down 0.34% intraday, at some point of early Wednesday.

In doing so, the Aussie pair extends the preceding day’s pullback from the 200-SMA to refresh the day by day low, no longer to overlook marking the first loss in 5 days.

Given the more than one rejections from the 200-SMA and MACD line that teases the bearish cross, AUD/USD is in all likelihood to triumph over the instant guide surrounding 0.7265, such as a one-week-old rising vogue line.

However, the quote’s weak point previous 0.7265 will be examined through the 23.6% Fibonacci retracement (Fibo.) of the closing month’s downfall and the September 20 low, respectively round 0.7240 and 0.7220.

In a case the place AUD/USD bears hold reins previous 0.7220, the odds of witnessing a clean low underneath the cutting-edge 0.7171 can’t be dominated out.

On the flip side, a clear go of the 200-SMA degree of 0.7300 wants validation from the September 23 excessive of 0.7317 to goal for the five-week-old horizontal location close to 0.7345.


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