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AUD/USD chart - Trading View
AUD/USD fails at 55-EMA resistance, extends weakness for the 2nd straight session.
The pair is set to extend weakness as bulls unable to break stiff resistance at 55-EMA and daily cloud.
Major trend is neutral and minor trend is turning bearish as evidenced by GMMA indicator.
Parabolic SAR now supports weakness. Stochastics RSI has rolled over from overbought levels.
The pair finds strong support at 21-EMA at 0.6263. Break below will see further weakness.
Next major support lies at 20-DMA at 0.6212 ahead of 38.2% Fib at 0.6098 and then 0.5980 (Apr 3rd low).
55-EMA is major resistance at 0.6359. Breakout above negates any bearish bias.
Support levels - 0.6263 (21-EMA), 0.6098 (38.2% Fib), 0.5980 (Apr 3rd low)
Resistance levels - 0.6359 (55-EMA), 0.6455 (61.8% Fib), 0.6515 (110-EMA)
