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FxWirePro: AUD/USD trades in narrow range, recovery capped at 1H 200-SMA

AUD/USD chart - Trading View 

AUD/USD edged higher overnight on improved risk sentiment and weaker USD amid poor U.S. data.

Recovery in the pair is capped at 1H 200-SMA, bias remains bearish.

The pair is trading 0.19% lower on the day at 0.6885 at 05:45 GMT.

Price action hovers around 5-DMA, break above could see gains till 21-EMA.

Major trend remains bearish. Breakout above 200-DMA required for bearish invalidation.

On the downside, strong support is seen at 0.6845 (trendline). Break below will accentuate downside.

Support levels - 0.6845 (trendline), 0.6807 (88.6% Fib), 0.6744 (Jan 3rd low)

Resistance levels - 0.69, 0.6954 (61.8% Fib), 0.70

For details on FxWirePro's Currency Strength Index, visit

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