Chart - Courtesy Trading View
Technical Analysis:
- AUD/USD was trading 0.31% higher on the day at 0.6954 at around 10:40 GMT
- The pair has snapped a three-day downtrend, but bias remains bearish
- 5-DMA is sharply lower, Stochs have rolled over from overbought levels and are biased lower
- Recovery attempts have been capped shy of 200-DMA and the pair has retraced into daily cloud
- MACD confirms bearish crossover on signal line, ADX supports weakness
Support levels:
S1: 0.6921 (50-DMA)
S2: 0.6867 (Lower BB)
Resistance levels:
R1: 0.6979 (55-EMA)
R2: 0.7046 (110-EMA)
Summary: AUD/USD trades with a bearish bias. Break below daily cloud will open downside. Bearish invalidation only above 200-DMA.
