Chart - Courtesy Trading View
Technical Analysis:
GMMA Indicator
- Major and minor trend are bearish
Ichimoku Analysis
- Price action is capped at daily cloud
- Chikou span is biased higher
Oscillators
- RSI is flat, below the 50 mark
- Stochs are biased lower
Bollinger Bands
- Bollinger bands show constriction
- Volatility is shrinking
Major Support Levels: 0.7170 (200-week MA), 0.7113 (Lower BB)
Major Resistance Levels: 0.7197 (21-EMA), 0.7213 (200H MA)
Summary: AUD/USD struggles for direction at 21-EMA and daily cloud resistance. Technical indicators show a bearish tilt. Break out above 21-EMA could change near-term bias. Focus on US inflation data and Fed speech for impetus.
