Chart - Courtesy Trading View
Technical Analysis:
- AUD/USD was trading 1.13% lower on the day at 0.6783 at around 12:20 GMT
- Recovery in the pair was capped at major trendline resistance
- 5-DMA is sharply lower and Chikou span is bias lower
- Momentum is with the bears, volatility is high
- GMMA indicator shows major and minor trend are strongly bearish
- Price action is below major moving averages which are trending lower
Support levels - 0.6752 (Lower BB), 0.6648 (June 2020 low)
Resistance levels - 0.68, 0.6844 (5-DMA)
Summary: AUD/USD trades with a bearish bias. Scope for fresh multi-month lows.
