AUD/USD slips to a fresh multi-month low of 0.7052. The Australian currently has depreciated by over 4% this week. The daily chart shows bearish sentiment is quite strong. FX desks continue to offer Australian dollars, pushing AUD/USD to fresh multi-month lows. AUD/USD is now trading at 0.7052, the lowest level since July 21. The previous two-month low of 0.7068 was set on Wednesday. According to Wednesday’s big red marubozu candle, the bearish sentiment is quite strong. Marubozu occurs when sellers lead the price action from UTC open to close. The pair has also breached the horizontal support of 0.7076 – the low of the Doji candle created on Aug. 3. As such, AUD/USD looks set to test the 100-day simple moving average (SMA), currently located at 0.70. However, readers should note that the hourly and 4-hour chart relative strength indexes are currently reporting oversold conditions with a below-30 print. Hence, a minor bounce of consolidation may be seen before a drop to the 100-day SMA. A close above the descending 10-day SMA, currently at 0.7229, is needed to invalidate the bearish outlook. Daily chart Trend: Bearish Technical 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 EUR/USD options show strongest bearish bias in 3 months, German IFO eyed FX Street 1 year AUD/USD slips to a fresh multi-month low of 0.7052. The Australian currently has depreciated by over 4% this week. The daily chart shows bearish sentiment is quite strong. FX desks continue to offer Australian dollars, pushing AUD/USD to fresh multi-month lows. AUD/USD is now trading at 0.7052, the lowest level since July 21. The previous two-month low of 0.7068 was set on Wednesday. According to Wednesday's big red marubozu candle, the bearish sentiment is quite strong. Marubozu occurs when sellers lead the price action from UTC open to close. The pair has also breached the horizontal support of 0.7076 –… Top 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.
