Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major and minor trend are strongly bearish on the daily charts
Ichimoku Analysis
- Price action is extending weakness after rejection at daily cloud
Oscillators
- Stochs and RSI show bearish momentum
- RSI has slipped below 50 mark
Bollinger Bands
- Bollinger bands are spread wide apart and show high volatility
Major Support Levels: 0.71, 0.7091 (Lower BB), 0.7051 (38.2% Fib)
Major Resistance Levels: 0.7172 (200-week MA), 0.7192 (converged 5 and 20 MAs), 0.72
Summary: AUD/USD trades with a bearish bias. The pair has slipped lower from session highs at 0.7177 and is on track for further downside. Scope for test of 38.2% Fib.
