Chart - Courtesy Trading View
AUD/USD was trading 0.11% lower on the day at 0.7474 at around 05:55 GMT.
The pair is extending previous session's weakness, slips lower from session highs at 0.7500.
Price action has slipped below 5-DMA and 200H MA, scope for further downside.
GMMA indicator has turned bearish on the intraday charts, both major and minor trends are bearish.
The pair is struggling to hold break above weekly cloud. Decisive break above required for upside continuation.
5-DMA has turned, Chikou span is biased lower, MACD is on verge of bearish crossover on signal line.
Major Support Levels:
S1: 0.7405 (21-EMA)
S2: 0.7392 (20-DMA)
S3: 0.7318 (55-week EMA)
Major Resistance Levels:
R1: 0.7489 (200H MA)
R2: 0.7492 (5-DMA)
R3: 0.7500
Summary: AUD/USD is poised for some weakness. Dip till 21-EMA at 0.74 likely. Bullish invalidation only below 200-DMA.
