Aussie bears eye lower end of the falling channel at 0.7170. Hourly RSI flatlined, in the bearish region. Downside bias intact while below 21-HMA at 0.7201. The AUD/USD sellers have returned in the European session after the price failed to sustain its uptick above the 21- hourly Simple Moving Average (HMA) at 0.7201. Subsequently, a test of the immediate support of the falling trendline at 0.7170 is likely to be tested. A break below which the horizontal 100-HMA at 0.7160 could likely challenge the bears’ commitment. Note that the spot wavers in a falling channel formation on the hourly chart. The pattern’s natural tendency is to resume the previous uptrend should it be confirmed. Therefore, the bulls will re-attempt the 21-HMA support-turned-resistance if the aforesaid falling trend line (pattern) support is held onto. Acceptance above 21-HMA could open doors towards the falling channel (pattern resistance) at 0.7213. The pattern will get validated on an hourly closing above the latter, with a test of the pattern target above 0.7250 inevitable. AUD/USD: Hourly chart AUD/USD: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BOE’s Bailey: Negative rates are in the toolbox, but that is not the current plan FX Street 2 years Aussie bears eye lower end of the falling channel at 0.7170. Hourly RSI flatlined, in the bearish region. Downside bias intact while below 21-HMA at 0.7201. The AUD/USD sellers have returned in the European session after the price failed to sustain its uptick above the 21- hourly Simple Moving Average (HMA) at 0.7201. Subsequently, a test of the immediate support of the falling trendline at 0.7170 is likely to be tested. A break below which the horizontal 100-HMA at 0.7160 could likely challenge the bears’ commitment. Note that the spot wavers in a falling channel formation on the hourly chart. The pattern’s natural… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
