AUD/USD Price Analysis: Eases from weekly resistance below 0.7300

• AUD/USD reverses intraday gains, with eyes on daily low.
• Descending RSI line hints at pullback from short-term resistance line.
• Bulls need validation from monthly high, 200-HMA adds to the downside filters.

AUD/USD drops back towards intraday low surrounding 0.7270 as European traders brace for Thursday’s bell.

In doing so, the Aussie pair reverses from a one-week-old resistance line amid a downward sloping RSI line.

The same signals the quote’s further weakness towards the 200-HMA level of 0.7253. However, any further weakness will be challenged by an ascending support line from September 23, close to 0.7248.

The latest swing low, marked the previous day around 0.7225, will act as additional supports for the AUD/USD prices.

On the contrary, an upside clearance of the stated resistance line, near 0.7290, may wait for confirmation from the 0.7300 threshold and the monthly high near 0.7320 before recalling the buyers.

Following that, the late September peak surrounding 0.7410 and the last month’s high of 0.7478 will be in focus.

AUD/USD: Hourly chart

Trend: Pullback expected