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FxWirePro: AUD/USD falters at 200-DMA, slips below 5-DMA

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/USD was trading 0.08% lower on the day at 0.7200 at around 05:30 GMT

- The pair is extending weakness for the second straight session, slips below 5-DMA

- Price action has faltered at 200-DMA which is offering stiff resistance at 0.7255

- 'Death Cross' (bearish 50-DMA crossover on 200-DMA) dents upside

- Stochs are at overbought, with scope for bearish reversal

Major Support Levels: 

S1: 0.7180 (55-EMA)

S2: 0.7138 (21-EMA)

Major Resistance Levels: 

R1: 0.7221 (110-EMA)

R2: 0.7255 (200-DMA)

Summary: AUD/USD upside falters at 200-DMA resistance, decisive break above required for upside continuation. On the flipside, break below 55-EMA support will drag the pair lower. 
 

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