Detailed FX Market Outlook and Analysis

AUD/USD Daily Analysis

AUD/USD is trading 0.66% lower to 0.7470 and appears to be heading further lower. The intraday support levels are at 0.7466 and 0.7426. The near-term resistance areas are at 0.7511 and 0.7539.

On the intraday charts, the pair is currently trading near the SMA-14 support line which is at 0.7457. A breach below this level is likely to help the bears drag the price further lower towards 0.7400. The mid-band is at 0.74311 with upper and lower bands at 0.7587 and 0.7274 respectively. The RSI is at 56 and has a downwards curve while the MACD is also indicating a bearish trajectory which makes the pair ideal for selling entries near 0.7485 with a target of 0.7435 and a stop-loss at 0.7518.

Latest Analysis