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  • AUD/USD is meeting resistance at the 21-hr SMA with bulls supporting at S3.
  • Hourly RSI is holding back above 30.  
  • The price is stalling for the  third time since having broken below the late Feb bullish cloud and the lagging span is en-route to price, pointing to another phase of consolidation.
  • While short-term momentum indicators are overstretched, the daily RSI has further to go as price develops below the trendline resistance est. on 25th Feb with a series of touches on the way down to the cloud.
  • The price is now below the daily bullish cloud although the Senkou Span A has not yet crossed below the Senkou Span B.  
  • However, the bias remains bearish while the price is below the horizontal support line est. on 11th Feb swing lows at 0.7053. A break of 0.7016 26th Dec lows.
  • Weekly S2 is located at 0.6986 and S3 at 0.6903 meeting 22 Aug 2015.  

AUD/USD daily chart