Detailed FX Market Outlook and Analysis

AUD/USD Daily Analysis

AUD/USD is currently trading 0.12% lower to 0.7293. The pair made a low of 0.7262 earlier in the Asian session and is likely to remain under pressure. The intraday support levels are at 0.7261 and 0.7242. The intraday resistance levels are at 0.7316 and 0.7346.

On the intraday charts, the small recovery pattern that started earlier this week has now faded away. The SMA-14 is indicating resistance at 0.7385 and the SMA-50 resistance line is at 0.7356. The RSI is at 39 and the MACD is below the middle line and favors the bears. Following the intraday and 4-hourly price patterns, the pair is presenting further sell opportunities around 0.7300 with a target of 0.7250 and a stop-loss at 0.7326.

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