AUD/USD struggles to keep bounce off 50-HMA amid bearish MACD. Two-day-old rising channel break also favors sellers, descending trend line from recent tops add to upside filters. AUD/USD trims intraday losses while picking up bids to 0.7735, down 0.25% on a day, amid the early Friday. The pair recently dropped below an upward sloping trend channel formation from Wednesday. However, 50-HMA triggered the latest corrective pullback. Even so, the bearish MACD signals and the pair’s sustained breakdown of the stated bullish chart pattern backs AUD/USD sellers eyeing a downside break of 50-HMA level of 0.7724 to revisit the 0.7700 threshold. It should be noted that the pair’s sustained weakness below the 0.7700 round-figure may not hesitate to challenge the 200-HMA level near 0.7650. Alternatively, corrective pullback beyond the stated channel’s support line, at 0.7745 now, will have to cross a descending resistance line from the previous day, around 0.7755. Though, the channel’s upper line near 0.7785 and March’s top near 0.7850 will be the tough nuts to crack for AUD/USD buyers beyond 0.7755. AUD/USD hourly chart Trend: Further weakness expected 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 Asian Stock Market: Trades mixed even as China Q1 GDP grows at record pace FX Street 2 years AUD/USD struggles to keep bounce off 50-HMA amid bearish MACD. Two-day-old rising channel break also favors sellers, descending trend line from recent tops add to upside filters. AUD/USD trims intraday losses while picking up bids to 0.7735, down 0.25% on a day, amid the early Friday. The pair recently dropped below an upward sloping trend channel formation from Wednesday. However, 50-HMA triggered the latest corrective pullback. Even so, the bearish MACD signals and the pair's sustained breakdown of the stated bullish chart pattern backs AUD/USD sellers eyeing a downside break of 50-HMA level of 0.7724 to revisit the 0.7700 threshold.… 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.
