AUD/USD is trading 0.38% lower to 0.7440 ahead of the European session. The intraday support levels are at 0.7423 and 0.7385. The near-term resistance areas are at 0.7471 and 0.7494.
On the intraday charts, yesterday’s brief uptick hasn’t helped the bulls to build a strong upwards momentum. The pair is once again below the SMA-14 which is at 0.7480 while the SMA-50 is indicating support way below at 0.7362. The mid-Band is at 0.7444 with upper and lower and bands at 0.7572 and 0.7315 respectively. The RSI is at 52 and has a downwards curve. The intraday price pattern is bearish and with the nearby resistance areas the pair is good for intraday selling entries near 0.7465 with a take profit at 0.7415 and stop-loss at 0.7500
