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AUD/USD tests bear flag base, holds for now

AUD/USD overnight slide hits new short-term trend low Bear flag base tested & holds for now, pair lifts to short-term resistance near 0.7740/45 Diverging RSI & slightly wider yield spreads aid the bounce, market short >0…

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  • AUD/USD overnight slide hits new short-term trend low

  • Bear flag base tested & holds for now, pair lifts to short-term resistance near 0.7740/45

  • Diverging RSI & slightly wider yield spreads aid the bounce, market short 

  • >0.7745 puts bigger 0.7780/90 resistance (hourly high mar 6, 10&21 DMAs) in play

  • Longer-term bears likely there; >0.7860 would ease short-term bear pressure

  • Long-Term outlook still bearish 

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Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560