Chart - Courtesy Trading View
Technical Analysis:
- AUD/USD was trading 0.38% lower on the day at 0.6901 at around 03:30 GMT
- Recovery attempts in the pair on Tuesday were capped at 21-EMA resistance
- Momentum is with the bears, RSI is below the 50 mark and biased lower
- Price action is within the daily cloud and Chikou span is biased lower
- The pair is currently holding support at 5-DMA
Support levels:
S1: 0.6898 (5-DMA)
S2: 0.6836 (Cloud base)
Resistance levels:
R1: 0.6947 (21-EMA)
R2: 0.6967 (55-EMA)
Summary: AUD/USD trades with a bearish bias. Watch out for break below 5-DMA for more weakness.
