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FxWirePro: AUD/USD succumbs to broader US dollar strength, eyes 21-EMA support at 0.7634

AUD/USD chart - Trading View 

Technical Analysis: Bias Bearish

- Price action has closed below 5-DMA and 5-DMA has turned lower

- MACD shows bearish crossover on the signal line

- Stochs and RSI show rollover from overbought levels

- Bearish divergence on Stochs and RSI on the daily charts adds to downside pressure

Support levels - 0.7634 (21-EMA), 0.7573 (78.6% Fib), 0.7475 (55-EMA)

Resistance levels - 0.7723 (200H MA), 0.7743 (5-DMA), 0.7836 (88.6% Fib)

Summary: AUD/USD on a loosing streak for the 4th straight session. Weakness Outlook has turned bearish for the near-term after prices dipped below 5-DMA. Pair now eyes support at 21-EMA. Break below will see more downside.
 

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