AUD/USD Price Analysis: Weekly resistance line probes buyers below 0.7000 – FXStreet

AUD/USD Price Analysis: Weekly resistance line probes buyers below 0.7000 – FXStreet

  • AUD/USD dribbles aspherical intraday extreme By way of The primary constructive day in 5.
  • RSI rebound, bullish MACD alerts hint at further restoration from month-to-month low.
  • Descending enchancment line from late Wednesday seems A troublesome nut to crack for consumers.
  • Bears Want to interrupt quick assist to retake administration.

AUD/USD fades rebound from month-to-month low As a Outcome of it retreats to 0.6950 heading into Tuesday’s European session.

In doing so, the Aussie pair jostles with a downward sloping resistance line from Friday, aspherical 0.6970 by the press time.

However, bullish MACD alerts and the RSI (14) restoration from the oversold territory hints On the AUD/USD pair’s further rebound.

That said, the 0.7000 psychological magnet and the 50-HMA diploma shut to 0.7015 Appear to lure the pair consumers.

Following that, a one-week-prolonged resistance line, Near 0.7050 On The latest, Shall be essential for the AUD/USD bulls To watch.

In the meantime, current draw again wants validation from An instantaneous assist line sursphericaling 0.6930, As properly as to the 0.6900 spherical decide, earlier than directing AUD/USD bears in the direction of the yearly low shut to 0.6830, marked in Might.

Ought to the quote reprimarys bearish previous 0.6830, March 2020 extreme shut to 0.6685 will obtain the market’s consideration.

AUD/USD: Hourly chart

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Source: https://www.fxstreet.com/news/aud-usd-price-analysis-weekly-resistance-line-probes-buyers-below-07000-202206140444

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