- AUD/USD reverses early-Asian gains despite recently picking up the bids.
- Bearish MACD suggests further pullback but 100-HMA, one-week-old support line can challenge the bears.
AUD/USD keeps the latest U-turn from 50-HMA while trading near 0.7535 during early Monday. In doing so, the pair revisits Friday’s closing while eroding the early-day gains.
Although short-term HMA restricts the quote’s immediate downside around 0.7520, bearish MACD directs the AUD/USD sellers toward the last Wednesday’s top near 0.7485.
It should, however, be noted that a confluence of 100-HMA and an upward sloping trend line December 07, around 0.7475/70, will challenge the pair’s further downside.
Meanwhile, 0.7570 and 0.7600 round-figure can lure the AUD/USD bulls during the short-term.
During the quote’s sustained run-up past-0.7600, the mid-2018 peak surrounding 0.7680 will be the key to watch.
AUD/USD hourly chart
Trend: Pullback expected
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