AUD/USD prints the first daily loss in four around 0.6700 during early Tuesday morning in Europe as the 21-day Exponential Moving Average (EMA) challenges the buyers.
Even so, the Aussie pair’s successful trading beyond the previous resistance line from early February, near 0.6625 by the press time, join the bullish MACD signals to keep the buyers hopeful.
That said, a clear upside break of the 21-EMA, around 0.6720 by the press time, could direct the AUD/USD buyers towards the 0.6780-85 resistance confluence including 100-EMA, 50-EMA and 38.2% Fibonacci retracement of October 2022 to February 2023 upside.
Hence, the AUD/USD pair appears to remain sidelined between 0.6780-85 resistance and 0.6625 resistance-turned-support line.
It should be noted that a sustained break of 0.6785 could aim for the mid-February high surrounding 0.7030 wherein the 0.7000 round figure and early February’s low of 0.6855 may act as buffers.
Alternatively, a downside break of the stated trend line support, previous resistance around 0.6625, may aim for the 0.6600 round figure before approaching the monthly low of 0.6564.
Even if the quote drops below 0.6564, the 61.8% Fibonacci retracement, also known as the golden Fibonacci ratio, could challenge the AUD/USD bears around 0.6545.
To sum up, AUD/USD is likely to grind higher despite the latest retreat.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發