- The AUD/USD pair charted a bearish lower-high at 0.72 yesterday, validating the bear flag breakdown, witnessed on Dec. 13.
- The pair, therefore, looks set to test the psychological support of 0.70 (pole height subtracted from breakdown price).
- The drop to 0.70, however, may not happen immediately, as the RSI on the 4-hour chart is reporting oversold conditions. Moreover, a minor bounce cannot be ruled out, but the outlook would remain bearish as long as the pair is trading below the downward sloping 10-day MA, currently at 0.7178.
4-hour chart
-636808743769836623.png)
Trend: bearish
AUD/USD
Overview:
Today Last Price: 0.7104
Today Daily change: -2.0 pips
Today Daily change %: -0.0281%
Today Daily Open: 0.7106
Trends:
Previous Daily SMA20: 0.7238
Previous Daily SMA50: 0.7197
Previous Daily SMA100: 0.7219
Previous Daily SMA200: 0.7385
Levels:
Previous Daily High: 0.7201
Previous Daily Low: 0.7087
Previous Weekly High: 0.7247
Previous Weekly Low: 0.7151
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7131
Previous Daily Fibonacci 61.8%: 0.7157
Previous Daily Pivot Point S1: 0.7062
Previous Daily Pivot Point S2: 0.7017
Previous Daily Pivot Point S3: 0.6948
Previous Daily Pivot Point R1: 0.7176
Previous Daily Pivot Point R2: 0.7245
Previous Daily Pivot Point R3: 0.729
Share
