Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major trend is neutral, while minor trend is bullish
Ichimoku Analysis
- Price action is below the daily cloud
- Chikou span is biased higher, suggests further gains
Oscillators
- Stochs and RSI show momentum is strongly bullish
- Stochs are in overbought zone, scope for bearish rollback
Bollinger Bands
- Widely spread Bollinger bands suggest high and rising volatility
Major Support Levels: 0.7189 (converged 200H MA and 21-EMA), 0.7175 (200-DMA), 0.7153 (20-DMA)
Major Resistance Levels: 0.7237 (55-EMA), 0.7280 (Upper Bollinger band), 0.7306 (110-EMA)
Summary: AUD/USD trades with a bullish bias. Watch out for decisive break above 55-EMA for further upside. Bullish invalidation likely on retrace below 200-week MA.
