AUD/USD Price Analysis: Mildly bid above 200-HMA

• AUD/USD remains firmer inside a choppy range below 0.7600.
• Upbeat Momentum line, sustained break of 200-HMA favor buyers.
• Weekly horizontal line, immediate rising trend line add to the downside filters.

AUD/USD stays high around the intraday peak of 0.7595, up 0.12% on a day, while heading into Friday’s European session. Even so, the Aussie pair’s sustained break of 200-HMA keeps buyers hopeful amid an upward sloping Momentum line.

That said, the 50% Fibonacci retracement of June 16–18 downside, around the 0.7600 threshold, guards immediate upside before June 17 top near 0.7650.

It should, however, be noted that a clear upside beyond 0.7650 will aim for the previous month’s low near 0.7675-80.

On the contrary, a downside break of 200-HMA level of 0.7584 may take rest near one-week-old horizontal support surrounding 0.7565-60.

Also acting as important support is an upward sloping trend line from Monday, around 0.7535, a break of which will confirm the AUD/USD sellers’ entry targeting the monthly low of 0.7477.

AUD/USD hourly chart

Trend: Bullish