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  • AUD/USD snaps three-day losing streak, picks up bids off-late.
  • 50-day SMA, short-term falling trend line test the buyers.
  • Ascending trend line from December 21 probe bears.

AUD/USD keeps Friday’s bounce off the 11-week-old support line, currently up 0.23% intraday near 0.7710, during early Monday.

Although strong RSI favors the AUD/USD buyers, a convergence of 50-day SMA and a falling trend line from February 25, near 0.7745, guards the quote’s immediate upside.

Should the pair rallies beyond 0.7745 on a daily closing, the monthly high of 0.7838 and the 0.7900 threshold lure AUD/USD bulls.

Meanwhile, failures to cross the stated resistance may take clues from the US dollar strength and attack the multi-day-old support line, at 0.7637 now.

If at all the AUD/USD bears manage to conquer the key support trend line, the yearly bottom surrounding 0.7560 should be watched closely.

Overall, AUD/USD bears seem to have tired but there is no major support for the bulls’ entries.

AUD/USD daily chart

Trend: Pullback expected