Chart - Courtesy Trading View
Technical Analysis:
GMMA Indicator
- Major and minor trend are strongly bearish on the daily charts
Ichimoku Analysis
- Price action is extending break below daily cloud
- Chikou span is biased lower, supports further weakness
Oscillators
- Stochs and RSI are sharply lower, RSI is well below 50 mark
- Stochs are at oversold, but no signs of reversal seen
Bollinger Bands
- Bollinger bands are wide and suggest high volatility
Major Support Levels: 0.7022 (Lower W BB), 0.6993 (2021 lows), 0.6865 (Lower M BB)
Major Resistance Levels: 0.7095 (5-DMA), 0.7163 (converged 200-week MA and 200H MA), 0.7180 (20-DMA)
Summary: AUD/USD is extending break below 200-week MA and 38.2% Fib, scope for dip till 0.6993.
