FxWirePro: USD/JPY holds gains above 5-DMA amid souring risk sentiment, BoJ keeps policy steady, revises up inflation forecasts
FxWirePro: AUD/USD Daily Outlook
Chart - Courtesy Trading View
- Near and long term moving averages are biased lower on the daily charts
- Major and minor trend is strongly bearish
- Price action is below daily and weekly cloud
- Chikou span is biased lower on the weekly charts
- Stochs and RSI are sharply lower, momentum is strongly bearish
- Oscillators are in oversold territory and may cause some pullbacks
- Volatility is high as evidenced by widely spread Bollinger bands
Major Support Levels: 0.7193 (200-week MA), 0.7153 (Lower W BB)
Major Resistance Levels: 0.7214 (5-DMA)0.7268 (200H MA)
Summary: AUD/USD pivotal at 200-week MA support. Technical indicators are biased lower, but decisive break below 200-week MA required for further downside.
Oversold conditions warrant some caution. Pullbacks if any are likely to be shallow. Break above 21-EMA could change near-term trend. Bearish invalidation only above 200-DMA.