AUD/USD Technical Analysis: dips below 0.72, repeated rejection at 100-day EMA is cause for concern
The AUD/USD pair is currently reporting marginal losses below 0.72, having faced rejection at the 100-day exponential moving average (EMA) in the last three trading days.
Daily chart
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As seen above, the pair failed to close above the 100-day EMA line for the third straight day on Tuesday. The immediate bullish outlook, therefore, stands neutralized. Moreover, a break below Monday's low of 0.7174 would validate the signs of bullish exhaustion (rejection at 100-day EMA) and allow a deeper pullback to 0.71 (psychological hurdle).
A daily close above that MA resistance, currently at 0.7214, would signal a resumption of the rally from the Jan. 3 low of 0.6744 and open up upside toward 0.73.
Trend: Bullish above 100-day EMA
AUD/USD
Overview:
Today Last Price: 0.7196
Today Daily change: -4.0 pips
Today Daily change %: -0.0556%
Today Daily Open: 0.72
Trends:
Previous Daily SMA20: 0.7098
Previous Daily SMA50: 0.7188
Previous Daily SMA100: 0.7174
Previous Daily SMA200: 0.7326
Levels:
Previous Daily High: 0.7226
Previous Daily Low: 0.7179
Previous Weekly High: 0.7236
Previous Weekly Low: 0.7089
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Previous Daily Fibonacci 38.2%: 0.7208
Previous Daily Fibonacci 61.8%: 0.7197
Previous Daily Pivot Point S1: 0.7178
Previous Daily Pivot Point S2: 0.7155
Previous Daily Pivot Point S3: 0.7131
Previous Daily Pivot Point R1: 0.7225
Previous Daily Pivot Point R2: 0.7249
Previous Daily Pivot Point R3: 0.7272