FxWirePro: AUD/USD Daily Outlook

AUD/USD chart - Trading View 

AUD/USD was trading 0.48% lower on the day at 0.6384 at around 04:40 GMT, outlook bearish.

The pair is extending losses for the 3rd straight session as the Aussie remains depressed amid fresh US-China trade woes.

Technical indicators are turning bearish. RSI has turned lower and Stochs are on verge of rollover from overbought levels.

The pair is currently holding support at 55-EMA at 0.6380, break below will see further downside.

Next major support lies at daily cloud at 0.6220. Breach below cloud will see downside resumption.

Major Support Levels: 0.6371 (20-DMA), 0.6220 (cloud top), 0.6190 (Lower BB)

Major Resistance Levels: 0.6471 (5-DMA), 0.6503 (110-EMA), 0.6569 (Apr 30 high)