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  |   Technicals


FxWirePro: AUD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/USD was trading largely unchanged at 0.6404 at around 15:05 GMT

- The pair is forming a Doji on the daily candle at the time of writing

- GMMA indicator shows major and minor trend are strongly bearish

- Momentum is bearish, volatility is high and rising

- Chikou span is biased lower, MACD and ADX support downside in the pair

Support levels - 0.6363 (Yearly low), 0.6304 (Lower BB)

Resistance levels - 0.6461 (5-DMA), 0.6568 (21-EMA)

Summary: AUD/USD trades with a bearish bias. The pair is on track to refresh yearly lows below 0.6363. 

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