Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Daily - major and minor trend is bearish
- Hourly - major and minor trend are neutral
Ichimoku Analysis
- Daily charts, price action is well below daily cloud
- Price action is consolidating break below weekly chart
Oscillators
- RSI is on verge of rollover from oversold levels
- Stochs are at oversold levels
Bollinger Bands
- Bollinger bands are spread wide apart
- Volatility is high
Major Support Levels: 0.7060 (trendline support), 0.7051 (38.2% Fib)
Major Resistance Levels: 0.7185 (200H MA), 0.7251 (21-EMA)
Summary: AUD/USD has bounced off major trendline support with a Spinning Top formation. Price action has edged above 5-DMA. Major trend is bearish, but oscillators are showing a bullish rollover from oversold levels, raising scope for some upside.
