AUD/USD Price Analysis: Seesaws inside triangle below 100-HMA

AUD/USD struggles to extend the latest recovery.
100-HMA, triangle’s resistance question the buyers amid bullish MACD.
Sellers look for entry below 23.6% Fibonacci retracement, triangle support.

Anil Panchal FXStreet

Despite bouncing off -1.0% to +2.15% at present, AUD/USD fades the strength above 0.5900 while taking rounds to 0.5870 during the early Friday.

In doing so, the Aussie pair stays inside a short-term symmetrical triangle below the 100-Hour Moving Average (HMA).

Even so, the bullish MACD propels the quote once again to test the waters above 0.5900 while targeting to confront the formation resistance and the 100-HMA confluence around 0.5940.

In a case where the bulls manage to cross 0.5940, 0.6000 and 61.8% Fibonacci retracement of its declines between March 13 and 19, at 0.6015, could return to the charts.

Meanwhile, the pair’s declines below the formation support and 23.6% Fibonacci retracement, around 0.5700 will be important to watch as it can recall the recently fleshed 11-year low close to 0.5510.

AUD/USD hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.5869
Today Daily Change	126 pips
Today Daily Change %	2.19%
Today daily open	0.5743

Trends
Daily SMA20	0.6406
Daily SMA50	0.6626
Daily SMA100	0.6747
Daily SMA200	0.6798

Levels
Previous Daily High	0.5965
Previous Daily Low	0.5509
Previous Weekly High	0.6686
Previous Weekly Low	0.6122
Previous Monthly High	0.6775
Previous Monthly Low	0.6434
Daily Fibonacci 38.2%	0.5683
Daily Fibonacci 61.8%	0.5791
Daily Pivot Point S1	0.5513
Daily Pivot Point S2	0.5283
Daily Pivot Point S3	0.5057
Daily Pivot Point R1	0.5969
Daily Pivot Point R2	0.6195
Daily Pivot Point R3	0.6426

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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