AUD/USD chart - Trading View
AUD/USD was trading 0.07% higher on the day at 0.7642 at around 09:45 GMT, bias lower.
The pair is consolidating break below 21-EMA and recovery attempts remain capped below 5-DMA.
Oscillators have turned bearish, RSI is well below the 50 mark and bias is lower. Further, a 'Bearish Divergence' on the daily charts raises downside pressure.
Volatility is rising and short-term moving averages on the GMMA indicator have turned bearish.
Bears now target 55-EMA support at 0.7567. Break below will drag the pair lower to test 38.2% Fib retracement at 0.7503.
On the flipside, the pair finds strong resistance at 21-EMA at 0.7680. Retrace above will negate bearish bias.
Traders now look forward to the release of the US ISM Manufacturing PMI for some short-term opportunities.
