AUD/USD chart - Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major and minor trend are strongly bearish on the hourly charts
- Daily chart shows major trend is still bullish, while minor trend is bearish
Ichimoku Analysis
- Price action is well above the daily cloud, but has slipped below on the hourly charts
- The Chikou Span on the daily charts has turned South suggesting near-term trend reversal
Oscillators
- Oscillators are in neutral zone and biased lower
- Stochs and RSI have rolled over from overbought levels with further downside scope
Bollinger Bands
- Bollinger bands are narrowing on the daily charts
- Volatility remains high, suggesting the pair could see major price swings
Major Support: 0.6663 (200-DMA)
Major Resistance: 0.6932 (Tenkan Sen)
Summary: AUD/USD has been extending downside after rejection at channel top. Technical indicators have turned bearish and we see scope for dip till channel base at 0.6715. 200-DMA is major support at 0.6663, breach below will open downside. Focus on RBA meeting minutes (Tuesday 01:30 GMT) for direction.
