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Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- GMMA indicator shows major and minor trend are bearish
- Volatility is high, but shrinking
- Recovery attempts were rejected at 21-EMA
- Price action is below daily cloud
- The pair is facing stiff resistance at 200-week MA
Support levels - 0.7110 (200H MA), 0.71, 0.7017 (Lower BB)
Resistance levels - 0.7134 (5-DMA), 0.7166 (21-EMA), 0.7181 (200-week MA)
Summary: AUD/USD has paused a 2-day bearish streak, but bias remains bearish. Bearish invalidation only above 200-week MA.
