Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/USD holds marginal gains, broadly weaker US dollar supports

Chart - Courtesy Trading View 

Technical Analysis:

GMMA Indicator

- GMMA indicator shows near-term trend is strongly bearish

- Long-term trend is turning bearish with constriction on long-term moving averages

Ichimoku Analysis

- Price action is consolidating break below daily cloud

Oscillators

- Stochs and RSI are bearishly aligned

- RSI is well below the 50 mark, supporting weakness

Bollinger Bands

- Volatility is high as evidenced by widening Bollinger bands

Major Support and Resistance Levels: 

Support - 0.7250 (trendline), Resistance - 0.7306 (5-DMA)

Summary: AUD/USD trades with a bearish bias. Price action is consolidating break below daily cloud. The pair finds strong support at 0.7250 (trendline), break below will see downside resumption. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.