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Chart - Courtesy Trading View
Technical Analysis:
- AUD/USD was trading 0.14% higher on the day at 0.6809 at around 08:40 GMT
- The pair trades with a bearish bias, refreshes 2-year lows below 0.68 handle
- Momentum is strongly bearish, Stochs and RSI are highly at oversold levels
- Price action is below major moving averages which are trending lower
- 'Death Cross' (bearish 50-DMA crossover on 200-DMA) on the daily charts keeps bias lower
Major Support Levels: 0.6768 (Lower BB), 0.67
Major Resistance Levels: 0.6835 (5-DMA), 0.6928 (21-EMA)
Summary: AUD/USD trades with a bearish bias. Scope for further weakness below 0.68 handle.
