FX.co ★ AUD/USD

AUDUSD 4-Hour Analysis: AUD/USD is now trading at 0.70378, and we can identify the most recent daily resistance by attentively examining the immediate barrier above the 100-day simple moving average at 0.70778, which would suggest a return to buying pressure. Long-term, further increase might support 0.71878 physiological milestones. Additionally, the US dollar index will correct the upside above 105.00 due to overbought circumstances before rebounding to target the lower immediate support level of 103.80. The emphasis will move the bottom above the 61.3% Fibonacci retracement level of 0.71278, which is also the middle line of the Bollinger Bands, and the 25-day and 50-day SMA lines will cross the bridge of the 0.70878 downtrends despite the rebound, preventing the bulls from advancing. An extra strength of 0.72548 is available nearby. With the MACD dropping below its red signal line and heading to the southern zone, and the RSI staying around the 50 neutral level, momentum indicators are not providing any directional clues. However, a downward bottom is more likely to track an upward bottom at 0.73878 as long as prices stay above 0.69878. To support the upper mid-range of the neutral baseline at 0.76878, traders must get a confirmation signal and the potential for more increase. The price may drop toward the 50% Fibonacci retracement level at 0.71178 on the 4-hour time frame, with the support trendline close to 0.70078. As the price declines, the selling pressure may increase in the direction of the inverted head and shoulders pattern's neckline and cross the Bollinger Bands' midline bridge at 0.71778. Traders will also watch the crucial check below the 20-day and 40-day simple moving averages at 0.69858 as the market moves downward. Selling pressure might exacerbate the 23.6% Fibonacci retracement mark at 0.69578 on the downside. Therefore, a new bullish wave to the 200-day simple moving average 0.73218 restricted region might be sparked by a good breakthrough. While further movements in the MACD and Bollinger Band midlines would react lower at 0.67378, the primary focus turns to positive fundamentals.