FxWirePro: AUD/USD pivotal at 200H MA support, break below will see further weakness

AUD/USD chart - Trading View 

Technical Analysis: Bias Bearish

GMMA Indicator

- Daily chart: Major trend is bullish, minor trend is neutral

- Hourly chart: Major trend is neutral, minor trend is bearish

Ichimoku Analysis

- Price action is above cloud on the daily chart, but, Chikou Span has turned bearish

- On the hourly charts, the pair has slipped below cloud and bearish Tenkan Sen crossover on Kijun Sen adds to the downside bias.

Oscillators

- Stochs and RSI are at overbought levels, on verge of rollback into neutral

Bollinger Bands

- Volatility is high on the daily charts

- Bollinger bands are widening on the hourly charts, suggesting rising volatility

Summary: The pair has slipped below 5-DMA and technical indicators are turning bearish on the intraday charts. Price action is holding support at 200H SMA at 0.6918, break below will see major weakness. 

Major Support Levels: 0.6918 (200H MA), 0.6856 (Tenkan Sen), 0.6663 (200-DMA)

Major Resistance Levels: 0.6973 (5-DMA), 0.7064 (June 10 high), 0.7121 (Upper BB)