- AUD/USD refreshes intraday low after stepping back from 0.7287.
- 100-HMA, 61.8% Fibonacci retracement can question short-term sellers.
- 200-HMA adds to the upside barriers beyond the 0.7300 threshold.
- Australia’s Consumer Inflation Expectations ease from 3.3% to 3.1% for September.
AUD/USD takes offers around 0.7265, down 0.25% on a day, during the early Thursday. While weakness the latest Aussie data, as well as risk-reset, can be counted as fundamental catalysts behind the quote’s pullback, a short-term falling channel since September 04 plays its technical role.
However, 100-HMA questions the pairs’ further downside around 0.7260 ahead of the 61.8% Fibonacci retracement level of August 25-30 upside, near 0.7250.
Although the bears are likely to recede control around 0.7250, their further dominance will aim for the 0.7200 round-figures ahead of refreshing the monthly low while visiting the channel’s support near 0.7175.
Meanwhile, an upside clearance of the channel resistance of 0.7285 will have to cross the 200-HMA level of 0.7305 before allowing the bulls to retake controls.
In doing so, 0.7340 and 0.7380 could gain market attention before the previous month’s top, also the multi-month peak, surrounding 0.7415.
AUD/USD hourly chart
Trend: Pullback expected
