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AUD/USD Price Analysis: Repeats bounce off 50-day SMA as bulls eye 0.7700

AUD/USD refreshes intraday excessive to 0.7662, presently up 0.25% close to 0.7660, whilst heading into Monday’s European session. The quote regains upside momentum following its jump off 50-day SMA. In doing so, the quote battles a downward sloping style line from the remaining Wednesday.

Considering the bearish MACD alerts and decrease excessive formation, AUD/USD retailers can continue to be hopeful until clearing the immediately resistance line, at 0.7675 now.

Even if the quote rises past-0.7675, the 0.7700 threshold and a descending style line from January 06, presently round 0.7770, will project the AUD/USD bulls.

Meanwhile, a draw back destroy of 50-day SMA, at 0.7600 now, will direct the AUD/USD bears closer to the late-December low close to 0.7460 and the 0.7400 round-figure throughout the similarly weakness.

It should, however, be cited that the 100-day SMA stage of 0.7389 will venture the merchants concentrated on the early November 2020 tops close to 0.7340.

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