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​Technical Analysis: AUDUSD bulls stay hopeful unless breaking 0.7185

Although 0.7300 acts as the immediate upside cap for AUDUSD, the pair's sustained trading above 100-bar EMA favors the buyers. As a result, threats to the 0.7350 and 0.7400 levels to the north stay on the cards unless the quote stays above 0.7256 immediate support. It should additionally be noted that RSI recovery and repeated bounces off an ascending trend line from August 03, recently joined by 200-bar EMA, offers extra conviction to the pair bulls.

Meanwhile, a downside break of 100-bar EMA level of 0.7256 will take rest near 61.8% Fibonacci retracement, at 0.7200, before attacking the 0.7190/85 support confluence. If at all the sellers manage to conquer 0.7185 rest-point, 0.7135, 0.7110 and 0.7075 will return to the chart. Though, the 0.7030 and the 0.7000 psychological magnet will keep the bears cautious afterward.

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