AUDUSD Stays Beneath 0.7300 Level Despite Selling Bias Around the USD

AUDUSD Price Analysis – September 10

The AUDUSD pair stays beneath the 0.7300 marks bound into the American session in a range during the European session and maintained the positive recovery from two-week lows. The recent Aussie data can be counted as fundamental precursors behind the quote’s pullback, as well as risk-reset.

Key Levels
Resistance Levels: 0.7413, 0.7350, 0.7285
Support Levels: 0.7250, 0.7150, 0.7076
AUDUSD Long term Trend: Bullish
Whereas the bears are expected to dissipate dominance near the 0.7250 marks, their further control will be aimed at the 0.7200 round level ahead of reinforcing the monthly low after reaching support of the channel close to the 0.7175 level.

In the meantime, an upside breakout of the 0.7285 level horizontal resistance may have to reach the 0.7311 main resistance level before enabling the bulls to establish controls. While doing so, before the top of the previous month, the 0.7350 level may gain investor interest, even the multi-month high, reaching 0.7413 level.

AUDUSD Short term Trend: Ranging
Intraday bias in AUDUSD appears to be neutral as consolidation from level 0.7413 is growing. With the 0.7150 support level intact, an increase from 0.5506 level is still in support of restarting from 0.7413 level sooner rather than later.

However, a decisive breach of 0.7150 level may validate short-term topping and transform the downside bias for steeper correction. The exchange rate will continue to edge higher concerning the near future. During the following trading session, the probable aim for the AUDUSD pair will be about the 0.7350 marks.

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