AUD/USD Technical Analysis: 100-day SMA acts as important support inside ascending triangle

100-day simple moving average (SMA) level of 0.7135 again proves itself as an important support for the AUD/USD pair during early Monday.

The quote has been struggling near the said SMA but fails to dip beneath the same while nearly two-month-old ascending triangle seems to limit the pair moves between the 0.7085 support and 0.7210 resistance.

It should be noted that 0.7100 may offer an intermediate halt of the quote slid beneath 0.7135 whereas 23.6% Fibonacci retracement of January month upside at 0.7165 and 200-day SMA level of 0.7190 might act as upside buffers during the pullback.

In a case where prices rally past-0.7210, 0.7235 and 0.7275 could entertain buyers ahead of renewing the hops to revisit January highs near 0.7300.

On the flipside, 0.7050, 0.7010 and 0.6980 are likely crucial supports for the bears to watch past-0.7085.

AUD/USD daily chart

Trend: Sideways