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Forex

AUD/USD Hits Resistance at 100-Day SMA

Guavy AI Editorial Team
Instruments
USD AUD
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The AUD/USD currency pair has hit resistance at its 100-day simple moving average (SMA) near 0.7050, but this is not a signal to sell.

The SMA serves as a key technical indicator and often acts as dynamic resistance.

Despite the rejection, the AUD/USD remains above both the 20-day and 50-day SMAs, which are trending higher, indicating underlying momentum is still tilted to the upside.

A successful hold above the 0.6950-0.6980 support zone would likely keep the bullish structure intact.

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