AUD/USD Price Analysis: Aussie bulls attack 100-DMA within bullish channel

• AUD/USD renews three-week high inside two-month-old ascending trend channel.
• Bullish MACD signals, upbeat RSI keeps buyers hopeful of crossing 100-DMA hurdle.
• Sellers remain off the table unless witnessing daily close beyond 0.6600.

AUD/USD stays on the bids for the sixth consecutive day as it refreshes a three-week high near 0.6785 during early Monday in Europe. In doing so, the Aussie pair prods the 100-DMA hurdle inside an upward-sloping trend channel comprising multiple levels marked since March.

Given the bullish MACD signals and upbeat RSI (14) line, not overbought, the AUD/USD buyers are likely to cross the immediate hurdle surrounding 0.6790, comprising the 100-DMA.

However, likely overbought conditions around the 0.6800 round figure and the top line of the stated bullish channel, close to 0.6810 at the latest, can challenge the AUD/USD bulls afterward.

Should the Aussie pair buyers keep the reins past 0.6810, 0.6855 and 0.6900 will precede the mid-February’s peak of around 0.7030 to challenge the pair buyers.

On the contrary, the 50% Fibonacci retracement level of the pair’s run-up from October 2022 to February 2023, near 0.6660, can challenge the AUD/USD bears.

Following that, the stated channel’s bottom line of around 0.6600 and the 61.8% Fibonacci retracement level of near 0.6545, also known as the golden Fibonacci ratio, may prod the Aussie pair sellers before giving them control.

Overall, AUD/USD remains on the bull’s radar even if the upside remains long and bumpy.

AUD/USD: Daily chart

Trend: Further upside expected