Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/USD was trading 0.34% lower on the day at 0.7366 at around 10:45 GMT
- The pair is extending weakness for the 4th consecutive session, bias bearish
- Upside remains capped at 5-DMA which is trending lower
- MACD shows bearish crossover on signal line, ADX supports downside
- Price action is below 200H MA, GMMA indicator shows near-term trend has turned bearish
- Momentum is bearish, Stochs and RSI are sharply lower
Support levels - 0.7338 (50-DMA), 0.7319 (110-EMA), 0.7293 (200-DMA and Cloud top)
Resistance levels - 0.7415 (5-DMA), 0.7430 (21-EMA), 0.7476 (20-DMA)
Summary: AUD/USD trades with a bearish bias. 55-EMA is minor support at 0.7358, decisive break below will plummet prices.
