Technical Analysis: 100-bar SMA, 38.2% Fibonacci keep AUDUSD buyers in check
Gradual recoveries from 0.6850 fail to cross a confluence of 100-bar SMA and 8.2% Fibonacci retracement of the AUDUSD pair's November-December 2019 upside, around 0.6925/30. As a result, the bear's are looking for the pair's declines below the three-month-old rising trend line and 61.8% Fibonacci retracement, near 0.6860/55, to revisit 0.6835 and 0.6800 numbers to the south.
If the quote rallies well beyond 0.6930 23.6% Fibonacci retracement near 0.6965 and 0.7000 round figure will be on the bull's radar. Furthermore, the price run past-0.7000 will have to surpass December 2019 top near 0.7030 to question July's high near 0.7085.