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AUD/USD chart - Trading View
AUD/USD hits new 3-week lows below 0.69 handle, bearish momentum intact.
Aussie depressed amid heightened expectations of RBA rate cuts and escalating geopolitical tensions between the US and Iran.
National Australia Bank forecasts RBA to cut cash rate to 0.75% in November.
Major trend in the pair has been bearish and upside correction was capped at 55-EMA.
Technical indicators on the daily charts have turned bearish with RSI and Stochs are sharply lower.
5-DMA has turned and MACD is on verge of a bearish crossover on signal line.
Minor support seen at 0.6885 (trendline), break below eyes next major support at 0.6858 (Lower BB) ahead of 0.6815 (trendline).
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
