FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURAUD and EURJPY) for the day)
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (USCAD and EURJPY) for the day)
FxWirePro: AUD/USD Daily Outlook
Chart - Courtesy Trading View
AUD/USD was trading 0.60% lower on the day at 0.6393 at around 11:40 GMT.
The pair is extending weakness for the fourth consecutive session, outlook remains bearish.
GMMA indicator shows major and minor trend are strongly bearish on the daily charts.
Volatility is high as evidenced by wide Bollinger ands and momentum is strongly bearish.
Price action is well below cloud and Chikou span is biased lower. MACD and ADX support weakness in the pair.
Hawkish comments by Fed officials overnight reaffirm the prospects for a more aggressive policy tightening, supporting the US dollar.
Rise in the US Treasury bond yields along with risk-off mood weigh on the pair, further weakness on cards.