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FxWirePro: AUD/USD retraces above 0.65 mark, Doji at lows raises scope for some pullback

Chart - Courtesy Trading View 

AUD/USD was trading 0.20% lower on the day at 0.6515 at around 09:30 GMT.

The pair has edged higher from fresh 2-year lows, retraced above 0.65 mark.

Doji formation at lows raises scope for some pullback in the pair.

Major trend remains bearish as evidenced by GMMA indicator which is sharply lower.

ADX and MACD support downside in the pair. Chikou span is biased lower.

Oscillators are in highly oversold levels and Volatility is high and rising.

Major Support Levels: 

S1: 0.6372 (May 2020 low)

S2: 0.63

Major Resistance Levels: 

R1: 0.6597 (5-DMA)

R2: 0.6669 (200H MA)

Summary: AUD/USD trades with a bearish bias. Doji formation may cause some pause in downside. Downside bias intact as long as pair holds below 55-EMA. 

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