AUD/USD is under pressure this Wednesday, having so far traded down to a session low of 1.0437 from 1.0455, recording a 0.2% loss so far in Asia.
“The hourly chart shows indicators heading south below their midlines and 20 SMA with a strong bearish slope aiming to cross below the 200 EMA, suggesting a continuation rally to 1.0420 area,” comments Valeria Bednarik, Chief Analyst at FXstreet.com. “Once below this last, the pair has scope for a retest of March low around 1.0340, supported by 4 hours chart, where indicators also gain bearish strength and approach to selling signals.”
If the selloff persists in the hours ahead, support levels lie at 1.0420, 1.0380 and 1.0340, while, to the upside, resistance levels lie at 1.0490, 1.0525 and 1.0550.
“The hourly chart shows indicators heading south below their midlines and 20 SMA with a strong bearish slope aiming to cross below the 200 EMA, suggesting a continuation rally to 1.0420 area,” comments Valeria Bednarik, Chief Analyst at FXstreet.com. “Once below this last, the pair has scope for a retest of March low around 1.0340, supported by 4 hours chart, where indicators also gain bearish strength and approach to selling signals.”
If the selloff persists in the hours ahead, support levels lie at 1.0420, 1.0380 and 1.0340, while, to the upside, resistance levels lie at 1.0490, 1.0525 and 1.0550.
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