Currency Strength Index Bias for AUD/USD: Bearish
FxWirePro's Hourly AUD Spot Index was at -74.6081 (Slightly Bearish)
FxWirePro's Hourly USD Spot Index was at 121.045 (Bullish)
Technical Analysis: Bias bearish
- RSI and Stochs biased lower, RSI below 50
- MACD is on verge of bearish crossover
- -ve DMI crossover on +ve DMI seen, ADX is showing a turn higher
- Price action has slipped below cloud and broken below 100-DMA
Support levels - 0.7756 (38.2% Fib retrace of 0.7160 to 0.8125 rally), 0.77, 0.7694 (200-DMA)
Resistance levels - 0.78, 0.7825 (nearly converged 5, 20 & 100 - DMAs), 0.79
Recommendation: Good to go short on rallies around 0.7785/0.78, SL: 0.7840
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