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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

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

 

 

 

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