“¢ The pair edged lower for the fourth consecutive session and extended last week’s rejection slide from the very important 200-day SMA and a subsequent break through a short-term ascending trend-channel. “¢ The downward momentum has now dragged the pair closer to the 0.7100 round figure mark, which coincides with a support marked by a short-term ascending trend-line extending from early March swing lows. “¢ Meanwhile, technical indicators on the daily chart have just started gaining negative momentum but are already pointing to slightly oversold conditions on hourly charts and thus, warrant some near-term consolidation. “¢ However, sustained weakness below the mentioned trend-line support would mark a bearish breakdown and pave the way for an extension of the ongoing slide towards the 0.7070-65 horizontal support area. AUD/USD daily chart 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 Japan to shares its progressive crypto guidelines with G20 members FX Street 4 years "¢ The pair edged lower for the fourth consecutive session and extended last week's rejection slide from the very important 200-day SMA and a subsequent break through a short-term ascending trend-channel. "¢ The downward momentum has now dragged the pair closer to the 0.7100 round figure mark, which coincides with a support marked by a short-term ascending trend-line extending from early March swing lows. "¢ Meanwhile, technical indicators on the daily chart have just started gaining negative momentum but are already pointing to slightly oversold conditions on hourly charts and thus, warrant some near-term… 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.
