AUD/USD chart - Trading View
AUD/USD was trading 0.19% lower on the day at 0.7855 at around 04:10 GMT, edges slightly higher from session lows at 0.7823.
Rising risk-off and poor data keep the Australian dollar depressed. The bonds in Australia also poked multi-month top earlier in the day in sync with global treasury yield rally.
RBA bought 3-year government bonds worth three billion Australian dollars to tame the Treasury yields that spiked to the highest in 22 months, adding bearish pressure on the AUD.
On the data front, Australia’s Private Sector Credit for January eased below 0.3% to 0.2% MoM whereas the YoY reading also fell to 1.7% from 1.8% prior.
Price action has slipped below 5-DMA and 200H MA. Stochs and RSI have rolled over from overbought levels.
Major trend in the pair is bullish. Overbought oscillators may cause some pullbacks. GMMA indicator on the hourly charts shows minor trend is bearish and major trend is turning bearish.
The pair is showing a potential 'Inverted Hammer' formation on the weekly charts. As bearish signs build, watch out for breach at 50-DMA support for major weakness.


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