Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Urban studies: Doing research when every city is different 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Iran Unrest Sparks Oil Rally — Bounce Off EMA, Buy Dips to $66.40 Glory 
FxWirePro-Major European Indices 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
AUD/USD chart on Trading View used for analysis
- AUD/USD recovery attempts were capped below 5-DMA at 0.7148 on Thursday's trade.
- The major has formed a Doji candle on Thursday and is currently trading at 0.7110, up 0.05% at the time of writing.
- Technical indicators support downside and we do not see any major signs of reversal.
- Price action hovers around 78.6% Fib and further weakness to see dip till 0.7021 (Oct 26 low).
- Momentum indicators are at oversold levels and we could see some consolidation before the next leg lower.
- Long-term trend remains bearish and recovery was capped at 200-DMA after which the pair has resumed weakness.
- Any bearish invalidation only above 200-DMA. Downside scope till 0.6827 (Jan 2016 low).
Support levels - 0.71, 0.7063 (88.6% Fib)
Resistance levels - 0.7136 (5-DMA), 0.7163 (61.8% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
