AUD/USD Price Analysis: Mildly offered between 100-DMA and 61.8% Fibo.

• AUD/USD consolidates the biggest daily run-up since November 2011, sidelined of late.
• 100-DMA guards immediate upside, 61.8% Fibonacci retracement offers nearby support.
• MACD teases buyers but 0.7285 appears strong resistance.

AUD/USD remains sidelined around 0.7250, down 0.25% intraday, after positing the heaviest daily jump in over a decade. In doing so, the Aussie pair seesaws inside a 30-pip trading range during early Thursday, following the post-Fed rally.

The quote’s strong run-up the previous day crossed the 61.8% Fibonacci retracement (Fibo.) of January-April advances, backed by the receding bearish bias of the MACD. However, the 100-DMA caps immediate upside moves around 0.7265.

Even if the AUD/USD prices rally beyond 0.7265, a confluence of the 200-DMA and a monthly resistance line, around 0.7285, appear a tough nut to crack for the bulls, a break of which will propel the pair towards the mid-April low near 0.7340.

Meanwhile, pullback moves remain unimportant beyond the aforementioned key Fibo. level surrounding 0.7230.

Following that, March’s bottom of 0.7165 and lows marked during late February, around 0.7090, could test the AUD/USD bears.

Overall, AUD/USD is a strong contestant for the bullish move but needs validation from 0.7285.

AUD/USD: Daily chart

Trend: Sideways