AUD/USD Price Analysis: Consolidates losses around yearly support below 0.7700

• AUD/USD seesaws inside a small range surrounding 0.7650.
• Bearish MACD back sellers attacking multi-day-old support line.
• Confluence of 50-day, 100-day SMA guards immediate upside.

AUD/USD licks its wound around 0.7660, up 0.10% intraday, after witnessing the heaviest fall in three weeks, as European traders brace for Friday’s bell. I

Bearish MACD and a clear downside break of 0.7725-20 support confluence, comprising 50-day and 100-day SMA, keep AUD/USD sellers hopeful.

However, a daily closing below an ascending support line from December 21, 2020, around 0.7640, becomes necessary to witness the quote’s additional south-run.

Following that, the 0.7600 threshold and February low around 0.7560 may offer intermediate halts before challenging the yearly low near 0.7530.

Alternatively, the corrective pullback may attack the monthly horizontal line around 0.7675 but recovery hopes remain light unless crossing the 0.7725 resistance convergence, including the key SMAs.

AUD/USD daily chart

Trend: Bearish